Realization Upon Defaulted Mortgage Loans; REO Property. (a) The Master Servicer shall cause each Servicer (to the extent required under the related Servicing Agreement) to foreclose upon or otherwise comparably convert the ownership of Mortgaged Properties securing such of the Mortgage Loans as come into and continue in default and as to which no satisfactory arrangements can be made for collection of delinquent payments, all in accordance with the applicable Servicing Agreement.
Appears in 40 contracts
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp), Pooling and Servicing Agreement (Banc of America Funding 2006-2 Trust), Pooling and Servicing Agreement (Banc of America Funding Corp)
Realization Upon Defaulted Mortgage Loans; REO Property. (a) The Master Servicer shall cause each the Servicer (to the extent required under the related Servicing Agreement) to foreclose upon or otherwise comparably convert the ownership of Mortgaged Properties securing such of the Mortgage Loans as come into and continue in default and as to which no satisfactory arrangements can be made for collection of delinquent payments, all in accordance with the applicable Servicing Agreement.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-D Trust), Pooling and Servicing Agreement (Banc of America Funding Corp), Custodial Agreement (SunTrust Alternative Loan Trust, Series 2005-1f)
Realization Upon Defaulted Mortgage Loans; REO Property. (a) The Master Servicer shall cause each Servicer (to the extent required under the related Servicing Agreement) to foreclose upon or otherwise comparably convert the ownership of Mortgaged Properties securing such of the Mortgage Loans serviced by such Servicer as come into and continue in default and as to which no satisfactory arrangements can be made for collection of delinquent payments, all in accordance with the applicable Servicing Agreement.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (ABFC Asset-Backed Certificates, Series 2004-He1), Pooling and Servicing Agreement (ABFC Asset-Backed Certificates, Series 2005-He1)
Realization Upon Defaulted Mortgage Loans; REO Property. (a) The Master Servicer shall cause enforce the obligation of each Servicer (to the extent required under the related Servicing Agreement) to foreclose upon or otherwise comparably convert the ownership of Mortgaged Properties securing such of the Mortgage Loans as come into and continue in default and as to which no satisfactory arrangements can be made for collection of delinquent payments, all in accordance with the applicable Servicing Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp)
