REO Disposition. As to any REO Property, a determination by the Servicer that it has received all Insurance Proceeds, Liquidation Proceeds, REO Proceeds and other payments and recoveries (including proceeds of a final sale) which the Servicer expects to be finally recoverable from the sale or other disposition of the REO Property. REO Proceeds: Proceeds, net of expenses, received in respect of any REO Property. REO Property: A Mortgaged Property acquired in the name of the Trust, for the benefit of Certificateholders, by foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2007-Ar4), Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2007-Ar4), Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2007-Ar5)
