Realization Upon Defaulted Mortgages. Xxxxxxx Mac (or its agent) will foreclose upon (or otherwise comparably convert the ownership of) any real property securing a Mortgage which comes into and continues in default and as to which no satisfactory arrangements can be made for collection of delinquent payments. In connection with such foreclosure or conversion, Xxxxxxx Mac (or its agent) will follow such practices or procedures as it deems necessary or advisable and consistent with general mortgage servicing standards.
Appears in 4 contracts
Samples: Mortgage Participation Certificates Agreement, Multifamily Mortgage Participation Certificates Agreement, Mortgage Participation Certificates Agreement
