Realization Upon Defaulted Mortgage Loans; REO Property. (a) The WF Master Servicer shall cause each WF 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 WF Master Serviced 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 4 contracts
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-1 Trust), Pooling and Servicing Agreement (Banc of America Funding Corp. Mortgage Pass-Through Certificates Series 2004-D), Pooling and Servicing Agreement (Banc of America Funding 2007-3 Trust)
