Servicing plan Clause Samples
Servicing plan. The Lender must submit a servicing plan to RHS when the account is 90 days delinquent and a method other than foreclosure is rec- ommended to resolve delinquency. RHS encourages Lenders and delinquent borrowers to explore an acceptable al- ternative to foreclosure to reduce loss and expenses of foreclosure. Although prior approval is not required in all cases, the Agency may reject a plan that does not protect the Government’s interest.
Servicing plan. 2.1 Your vehicle’s Servicing Plan is as selected by you in the Specific Terms.
2.2 Your vehicle’s Servicing Plan runs from the date you enter into this Agreement, being the date of your Customer Confirmation in the Specific Terms.