In Litigation definition

In Litigation means a legal action in foreclosure of a Mortgage Loan, or for a deficiency thereunder, in which the sale of the Mortgaged Property in foreclosure (whether by action, power of sale, or otherwise) has been delayed by reason of the defense of such action by the Mortgagor, or any other action commenced or pending which involves the Mortgage Loan. The term "REO
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In Litigation means a Mortgage Loan with respect to which any action, suit or proceeding before a court, governmental agency or arbitrator has been instituted and is pending.
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In Litigation means a legal action in foreclosure of a Mortgage Loan, or for a deficiency thereunder, in which the sale of the Mortgaged Property in foreclosure (whether by action, power of sale, or otherwise) has been delayed by reason of the defense of such action by the Mortgagor, or any other action commenced or pending which involves the Mortgage Loan, including a formal complaint filed with a federal or state government or regulatory agency.
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Examples of In Litigation in a sentence

  • If You Are Successful In Litigation As mentioned previously, we do not provide legal services in relation to litigation.

  • If You Are Unsuccessful In Litigation As mentioned previously, we do not provide legal services in relation to litigation.

  • No offset, counterclaim or defense exists to Seller's full performance of this Sale Agreement, except as may result from the Mortgages In Litigation, as set forth on Exhibit H.

  • There is no litigation or governmental investigation pending (other than the Mortgages In Litigation described in Exhibit H hereto and such servicer termination events as Seller has disclosed in the Offering Memorandum) or, to the knowledge of Seller, threatened, nor is there any order, injunction or decree outstanding against or relating to Seller, which could have a material adverse effect upon the Servicing or Mortgages, nor does Seller know of any material basis for any such litigation.

  • The amount of the unpaid principal balance for each Mortgage is correct as set forth on Exhibit A as of the date Exhibit A was prepared, and there are no defenses, setoffs or counterclaims against such Mortgages, except the Mortgages In Litigation set forth on Exhibit H.

  • Except as set forth on Schedule 3.1(l)(1) or Schedule 3.1(l)(2), no Mortgage Loan is Delinquent, In Forbearance, In Foreclosure or In Litigation and no Mortgagor is In Bankruptcy.

  • Seller has no knowledge of any mortgagor defense to payment with respect to any Mortgage, other than the Mortgages In Litigation set forth on Exhibit H.


More Definitions of In Litigation

In Litigation means a Mortgage Loan that has been referred to an attorney for collection, or with respect to which any action, suit or proceeding before a court, governmental agency or arbitrator has been instituted and is pending, or has been settled or otherwise finalized in a manner which may materially and adversely affect (1) the Mortgagor's obligations or ability to make all payments to be made under the Mortgage Loan in accordance with the terms thereof, or (2) the enforceability or priority of the Mortgage granted in the residential real property and any other property serving as collateral for the Mortgage Loan.
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