Common use of Liquidation of Mortgage Loans Clause in Contracts

Liquidation of Mortgage Loans. If any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer shall take such action as it reasonably believes to be in the best interest of the Purchaser. If any payment due under any Mortgage Loan remains delinquent for a period of ninety (90) days or more, the Servicer shall commence foreclosure proceedings in accordance with the guidelines set forth by Fannie Mae or Freddie Mac. In such event, the Servicer shall from xxx xwx xunds xxxx xll necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. If any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer shall take such action as it reasonably believes to be in the best interest of the Purchaser. If any payment due under any Mortgage Loan remains delinquent for a period of ninety (90) days or more, the Servicer shall commence foreclosure proceedings in accordance with the guidelines set forth by Fannie Mae or Freddie Mac. In such event, the Servicer shall from ixx xxx xwx xunds xxxx xll xxxds mxxx xxx necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. If any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer shall take such action as it reasonably believes shall deem to be in the best interest of the Purchaser. If any payment due under any Mortgage Loan remains delinquent for a period of ninety one hundred twenty (90120) days or more, the Servicer shall commence foreclosure proceedings in accordance with the guidelines set forth by Fannie Mae or Freddie Mac. In such event, the Servicer shall from frxx xxx xwx xunds xxx funxx xxxx xll all necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. If any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer shall take such action as it reasonably believes shall deem to be in the best interest of the Purchaser. If any payment due under any Mortgage Loan remains delinquent for a period of ninety one hundred twenty (90120) days or more, the Servicer shall commence foreclosure proceedings in accordance with the guidelines set forth by Fannie Mae or Freddie Mac. In such event, the Servicer shall from frox xxx xwx xunds oxx fundx xxxx xll all necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. If any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer shall take such action as it reasonably believes to be in the best interest of the Purchaser. If any payment due under any Mortgage Loan remains delinquent for a period of ninety (90) days or more, the Servicer shall commence foreclosure proceedings in accordance with the guidelines set forth by Fannie Mae or Freddie Mac. In such event, the Servicer shall from frxx xxx xwx xunds xxx funxx xxxx xll all necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. If any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer shall take such action as it reasonably believes shall deem to be in the best interest of the Purchaser. If any payment due under any Mortgage Loan remains delinquent for a period of ninety one hundred twenty (90120) days or more, the Servicer shall commence foreclosure proceedings in accordance with the guidelines set forth by Fannie Mae or Freddie Mac. In such event, the Servicer shall from xxx xwx xunds its own funds xxxx xll necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. If any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer shall take such action as it reasonably believes shall deem to be in the best interest of the Purchaser. If any payment due under any Mortgage Loan remains delinquent for a period of ninety one hundred twenty (90120) days or more, the Servicer shall commence foreclosure proceedings in accordance with the guidelines set forth by Fannie Mae or Freddie Mac. In such event, the Servicer shall from xxx xwx xunds its own funds xxxx xll xxl necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. If any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer shall take such action as it reasonably believes shall deem to be in the best interest of the Purchaser. If any payment due under any Mortgage Loan remains delinquent for a period of ninety one hundred twenty (90120) days or more, the Servicer shall commence foreclosure proceedings in accordance with the guidelines set forth by Fannie Mae or Freddie Mac. In such event, the Servicer shall from xxx xwx xunds xxxx xll its own fuxxx xxxe all necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. If any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer shall take such action as it reasonably believes to be in the best interest of the Purchaser. If any payment due under any Mortgage Loan remains delinquent for a period of ninety (90) days or more, the Servicer shall commence foreclosure proceedings in accordance with the guidelines set forth by Fannie Mae or Freddie Mac. In such event, the Servicer shall from xxx xwx xunds xxxx xll fxxx xxs xxn fuxxx xxxe all necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. If any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer shall take such action as it reasonably believes shall deem to be in the best interest of the Purchaser. If any payment due under any Mortgage Loan remains delinquent for a period of ninety one hundred twenty (90120) days or more, the Servicer shall commence foreclosure proceedings in accordance with the guidelines set forth by Fannie Mae or Freddie Mac. In such event, the Servicer shall from xxx xwx xunds xxxx xll its oxx xxxdx xnd to the extent deemed recoverable make all necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. If any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer shall take such action as it reasonably believes shall deem to be in the best interest of the Purchaser. If any payment due under any Mortgage Loan remains delinquent for a period of ninety one hundred twenty (90120) days or more, the Servicer shall commence foreclosure proceedings in accordance with the guidelines set forth by Fannie Mae or Freddie Mac. In such event, the Servicer shall from xxx xwx xunds xxxx xll its owx xxxxs xxd to the extent deemed recoverable make all necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. If any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer shall take such action as it reasonably believes to be in the best interest of the Purchaser. If any payment due under any Mortgage Loan remains delinquent for a period of ninety (90) days or more, the Servicer shall commence foreclosure proceedings in accordance with the guidelines set forth by Fannie Mae or Freddie Mac. In such event, the Servicer shall from xxx xwx xunds xxxx xll xtx xwn fxxxx xxke all necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. If any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer shall take such action as it reasonably believes shall deem to be in the best interest of the Purchaser. If any payment due under any Mortgage Loan remains delinquent for a period of ninety one hundred twenty (90120) days or more, the Servicer shall commence foreclosure proceedings in accordance with the guidelines set forth by Fannie Mae or Freddie Mac. In such event, the Servicer shall from frxx xxx xwx xunds xxxx xll xxx funxx xxx to the extent deemed recoverable make all necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. If any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer shall take such action as it reasonably believes shall deem to be in the best interest of the Purchaser. If any payment due under any Mortgage Loan remains delinquent for a period of ninety one hundred twenty (90120) days or more, the Servicer shall commence foreclosure proceedings in accordance with the guidelines set forth by Fannie Mae or Freddie Mac. In such event, the Servicer shall from ixx xxx xwx xunds xxxx xll xxxds mxxx xxx necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. If any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer shall take such action as it reasonably believes shall deem to be in the best interest of the Purchaser. If any payment due under any Mortgage Loan remains delinquent for a period of ninety one hundred twenty (90120) days or more, the Servicer shall commence foreclosure proceedings in accordance with the guidelines set forth by Fannie Mae or Freddie Mac. In such event, the Servicer shall from xxx xwx xunds xxn xxnds xxxx xll xxl necessary and proper Servicing Advances.

Liquidation of Mortgage Loans. If any payment due under any Mortgage Loan is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Servicer shall take such action as it reasonably believes to be in the best interest of the Purchaser. If any payment due under any Mortgage Loan remains delinquent for a period of ninety (90) days or more, the Servicer shall commence foreclosure proceedings in accordance with the guidelines set forth by Fannie Mae or Freddie Mac. In such event, the Servicer shall from frox xxx xwx xunds oxx fundx xxxx xll all necessary and proper Servicing Advances.