Foreclosure Time Lines Sample Clauses
The 'Foreclosure Time Lines' clause defines the specific periods and deadlines that must be followed during the foreclosure process. It typically outlines when notices must be sent, how long a borrower has to respond or cure a default, and the minimum waiting periods before a lender can proceed with foreclosure actions. By establishing clear time frames, this clause ensures that all parties understand their rights and obligations, reducing confusion and helping to prevent disputes over procedural timing.
Foreclosure Time Lines. For Mortgage Loans in foreclosure, the Servicer will meet or improve upon the foreclosure timeline measured in the aggregate on a rolling three month weighted average basis, by loan count across all states. The Servicer will use the more stringent of the ▇▇▇▇▇▇ ▇▇▇ or Freddie Mac foreclosure time lines as may be amended from time to time, in each state, based on the standard with the shortest time lines. Servicer will not be penalized with a reduction in fees for unavoidable delays including bankruptcy filing, missing assignments and necessary collateral documents, contested actions, service of process delays, sheriff sale scheduling delays, court delays in entering judgment or scheduling hearing, and other circumstances agreed to by Owner, provided that Servicer has documented its system accordingly.
Foreclosure Time Lines. 1. For Mortgage Loans in foreclosure, the Servicer will meet or improve upon the foreclosure timeline measured in the aggregate on a rolling three month weighted average basis, by loan count across all states. The Servicer will use the more stringent of the Fannie Mae or Freddie ▇▇▇ ▇▇r▇▇▇osur▇ time lines as may be amended from time to time, in each state, based on the standard with the shortest time lines. Servicer will not be penalized with a reduction in fees for unavoidable delays including bankruptcy filing, missing assignments and necessary collateral documents, contested actions, service of process delays, sheriff sale scheduling delays, court delays in entering judgment or scheduling hearing, and other circumstances agreed to by Owner, provided that Servicer has documented its system accordingly.
Foreclosure Time Lines. 1. For Mortgage Loans in foreclosure, the Servicer will meet or improve upon the foreclosure timeline measured in the aggregate on a rolling three month weighted average basis, by loan count across all states. The Servicer will use the more stringent of the ▇▇▇▇▇▇ ▇▇▇ or ▇▇▇▇▇▇▇ Mac foreclosure time lines as may be amended from time to time, in each state, based on the standard with the shortest time lines. Servicer will not be penalized with a reduction in fees for unavoidable delays including bankruptcy filing, missing assignments and necessary collateral documents, contested actions, service of process delays, sheriff sale scheduling delays, court delays in entering judgment or scheduling hearing, and other circumstances agreed to by Owner, provided that Servicer has documented its system accordingly.