Foreclosure Reports Sample Clauses
The Foreclosure Reports clause requires the preparation and provision of detailed reports regarding foreclosure proceedings on a property. Typically, this clause outlines who is responsible for generating the reports, the frequency or timing of their delivery, and the specific information that must be included, such as the status of the foreclosure, outstanding amounts, and any legal actions taken. Its core practical function is to ensure all relevant parties are kept informed about the progress and status of foreclosure actions, thereby promoting transparency and enabling timely decision-making.
Foreclosure Reports. Each year beginning in 1999 the Servicer shall make any reports of foreclosures and abandonments of any Mortgaged Property required by Section 6050J of the Code. In order to facilitate this reporting process, the Servicer, on or before February 28th of each year, commencing with 1999, shall provide to the Internal Revenue Service, the Trustee and the Certificate Administrator, if any, reports relating to each instance occurring during the previous calendar year in which the Servicer (i) on behalf of the Trustee acquires an interest in a Mortgaged Property through foreclosure or other comparable conversion in full or partial satisfaction of a Loan, or (ii) knows or has reason to know that a Mortgaged Property has been abandoned. The reports from the Servicer shall be in form and substance sufficient to meet the reporting requirements imposed by such Section 6050J.
Foreclosure Reports. Upon the foreclosure sale of any Mortgaged Property or the acquisition thereof by the Purchaser pursuant to a deed in lieu of foreclosure, the Seller shall submit to the Purchaser a report with respect to such Mortgaged Property. The Seller shall notify the Purchaser of an acquired property within twenty-four (24) hours of such sale via e-mail or facsimile.
Foreclosure Reports. Each year beginning in 2004 the Servicer shall make any reports of foreclosures and abandonments of any Mortgaged Property required by Section 6050J of the Code. In order to facilitate this reporting process, the Servicer, on or before February 28th of each year, commencing with 2004, shall provide to the Internal Revenue Service and the Trustee reports relating to each instance occurring during the previous calendar year in which the Servicer (i) on behalf of the Trustee acquires an interest in a Mortgaged Property through foreclosure or other comparable conversion in full or partial satisfaction of a Loan, or (ii) knows or has reason to know that a Mortgaged Property has been abandoned. The reports from the Servicer shall be in form and substance sufficient to meet the reporting requirements imposed by such Section 6050J.
Foreclosure Reports. 81 Section 4.6 ADJUSTMENT OF SERVICING FEES WITH RESPECT TO PAYOFFS OR CURTAILMENTS..................81 Section 4.7
Foreclosure Reports. Procure mortgage foreclosure or title reports. Borrower covenants to pay forthwith to Standard Federal all sums paid for such purposes with interest at the default rate provided for in the Note, and such sums and the interest thereon shall constitute a further lien upon the Project.
Foreclosure Reports. 94 Section 4.6 Adjustment of Servicing Fees with Respect to Payoffs..........94 Section 4.7 Prohibited Transactions Taxes and Other Taxes.................94 Section 4.8
Foreclosure Reports. Upon the foreclosure sale of any Mortgaged Property or the acquisition thereof by the Purchaser pursuant to a deed in lieu of foreclosure, the Seller shall submit to the Purchaser a report with respect to such Mortgaged Property. The Seller shall notify the Purchaser of an acquired property within one Business Day from the date the Seller receives notice of such sale via e-mail or facsimile.
Foreclosure Reports. E-8-15 Upon the foreclosure sale of any Mortgaged Property or the acquisition thereof by the Purchaser pursuant to a deed-in-lieu of foreclosure, Option One shall submit to the Purchaser a foreclosure report with respect to such Mortgaged Property.