Notice Requirements. The Servicer shall send the Borrower a letter, not less than 30 days before the commencement of foreclosure proceedings, setting out (i) the nature of the default, (ii) the steps that must be taken by the Borrower to cure the default and (iii) the date when foreclosure proceedings will begin. If the Servicer has reason to believe that the related Mortgaged Property has been abandoned or if the Borrower has displayed an obvious disregard for his obligations under such Mortgage Loan, the foregoing notice shall be forwarded at the earliest possible date following the Borrower's default.
Appears in 76 contracts
Samples: Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-Ar6 Trust), Servicing Agreement (Wells Fargo Alternative Loan 2007-Pa1 Trust), Master Guarantee Agreement (Wells Fargo Asset Securities Corp)
Notice Requirements. The Servicer shall send the Borrower a letter, not less than 30 days before the commencement of foreclosure proceedings, setting out (i) the nature of the default, (ii) the steps that must be taken by the Borrower to cure the default and (iii) the date when foreclosure proceedings will begin. If the Servicer has reason to believe that the related Mortgaged Property has been abandoned or if the Borrower has displayed an obvious disregard for his obligations under such Mortgage Loan, the foregoing notice shall be forwarded at the earliest possible date following the Borrower's ’s default.
Appears in 1 contract
Samples: Servicing Agreement (Wells Fargo Asset Securities Corp)
