Certain Assumptions Permitted. The Servicer is authorized, notwithstanding the other provisions of this Article 13, to permit the assumption of a defaulted Mortgage Loan rather than to foreclose or accept a deed-in-lieu of foreclosure if, in the Servicer's judgment, the default is unlikely to be cured and the assuming borrower meets the underwriting guidelines that originally applied to such Mortgage Loan.
Appears in 76 contracts
Samples: Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-1 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-Ar8 Trust), Servicing Agreement (Wells Fargo Alternative Loan 2007-Pa2 Trust)
Certain Assumptions Permitted. The Servicer is authorized, notwithstanding the other provisions of this Article 13, to permit the assumption of a defaulted Mortgage Loan rather than to foreclose or accept a deed-in-lieu of foreclosure if, in the Servicer's ’s judgment, the default is unlikely to be cured and the assuming borrower meets the underwriting guidelines that originally applied to such Mortgage Loan.
Appears in 1 contract
Samples: Servicing Agreement (Wells Fargo Asset Securities Corp)
