Pre-foreclosure Resolution definition

Pre-foreclosure Resolution means any of the following:
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Pre-foreclosure Resolution means any of the following: Full reinstatement means any Defaulted Mortgage Loan for which the Mortgagor brings the Mortgage Loan back to a contractually current status either through a lump sum payment or otherwise consistent with the terms of the related Servicing Agreement.
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Pre-foreclosure Resolution. Any of the following: • Reinstatement - means any defaulted Mortgage Loan for which the related Mortgagor brings the Mortgage Loan back to a status no more than sixty (60) days delinquent through a lump sum payment or otherwise consistent with the terms of the Agreement. • Full payoff - means any defaulted Mortgage Loan which is paid in full as defined in the Agreement. • Cash for keys - means a defaulted Mortgage Loan for which the related Mortgagor surrenders the property in exchange for a cash sum to enable foreclosure on a property with imperfect title. • Shortfall payoff- means a defaulted Mortgage Loan for which a final payment in an amount less than the indebtedness owed under the applicable Mortgage Note is made consistent with the terms of the Agreement, and such payment is received by the Servicer in full satisfaction of such indebtedness. • Deed-in-Lieu of Foreclosure - means a defaulted Mortgage Loan for which title to the related Mortgaged Property is taken by the Servicer through deed in lieu of foreclosure and the resulting REO Property is to be liquidated consistent with the terms of the Agreement. • Modification/Deferral (subject to REMIC restrictions) - means a defaulted Mortgage Loan which is modified in a manner consistent with the Agreement and for which the related Mortgagor has made three (3) consecutive payments consistent with the terms of such Mortgage Loan as so modified. •
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Examples of Pre-foreclosure Resolution in a sentence

  • A "Pre-foreclosure Resolution" will be obtained for at least 55% of the Mortgage Loans (by number of Mortgage Loans) for which foreclosure actions have commenced (a "Defaulted Mortgage Loan"), measured on a rolling three month average basis.

  • Welcome Call Attempts Yes N/A 1 – 18 Day Call Attempts Yes Yes 1 – 18 Day Right Party Hits No Yes 18+ Day Call Attempts Yes Yes 18+ Day Right Party Hits No Yes Written Correspondence (All) Yes Yes Pre-foreclosure Resolution Yes Yes Foreclosure Timeline Yes Yes REO Liquidation Rate Yes Yes REO Proceeds Yes Yes Year 1..................


More Definitions of Pre-foreclosure Resolution

Pre-foreclosure Resolution. ▇▇▇▇l mean any of the following:
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Pre-foreclosure Resolution means any of the following: i. Full reinstatement - means any Defaulted Mortgage Loan for which the borrower brings the Mortgage Loan back to a contractually current status either through a lump sum payment or otherwise consistent with the terms of the related Pooling and Servicing Agreement and has made three consecutive timely payments subsequent to bringing such Mortgage Loan's status current. ii. Full payoff - means any Defaulted Mortgage Loan which is paid in full and such payment in full is received by Purchaser in full satisfaction of the indebtedness owed under the applicable Mortgage Note. iii. Shortfall payoff - means a Defaulted Mortgage Loan for which a final payment in an amount less than the indebtedness owed under the applicable Mortgage Note is made consistent with the terms of the related Pooling and Servicing Agreement and such payment is received by Purchaser in full satisfaction of such indebtedness. iv. Deed-in-Lieu of Foreclosure - means a Defaulted Mortgage Loan for which title to the Mortgaged Property is taken back by Purchaser through deed in lieu of foreclosure and the resulting REO Property is liquidated consistent with the terms of the related Pooling and Servicing Agreement. v. Modification (subject to REMIC restrictions) - means a Defaulted Mortgage Loan which is modified in a manner consistent with the related Pooling and Servicing Agreement and for which the Borrower has made three consecutive payments consistent with the terms of such Mortgage Loan as so modified.
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Related to Pre-foreclosure Resolution

  • Supplemental Resolution means any resolution or resolutions of the Trust amending, modifying or supplementing this Bond Resolution, authorizing the issuance of a Series of Refunding Bonds, or any other Supplemental Resolution adopted by the Trust pursuant to the provisions of this Bond Resolution.

  • Initial Resolution Period As defined in Section 2.03(b).

  • resolution action means the decision to place an institution or entity referred to in point (b), (c) or (d) of Article 1(1) under resolution pursuant to Article 32 or 33, the application of a resolution tool, or the exercise of one or more resolution powers;

  • unanimous resolution means, subject to subsection (3), a resolution-

  • Master Resolution means the Amended and Restated Master Resolution Establishing The University of Texas System Revenue Financing System adopted by the Board on February 14, 1991, as amended on October 8, 1993, and August 14, 1997.