Loss Mitigation Activity definition

Loss Mitigation Activity. To the extent not ordinary to the servicing function, an initiative taken by the Servicer (sometimes on cooperation with the Mortgagor), with the prior written consent of Owner if the Servicer reasonably expects the impact to the Owner to be greater than $5,000 (which consent shall be deemed to have been provided if no response from Owner is provided within ten (10) Business Days after written notice to Owner of Servicer’s intent to undertake such initiative), that might result in a less costly alternative to the Owner than foreclosure. Loss Mitigation Activity can include temporary forbearance, pre-sales, loan modifications, loan repayments, accepting a deed-in-lieu and deficiency judgments.
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Related to Loss Mitigation Activity

  • Compensatory mitigation means types of mitigation used to replace project-induced critical area and buffer losses or impacts.

  • School-Sponsored Activity means any activity sponsored, recognized or authorized by the Board and includes activities conducted on or off school property.

  • Mitigation plan means a proposal that includes the process or means to achieve carbon dioxide mitigation through use of mitigation projects or carbon credits.

  • Regulated Activity means any generation, treatment, storage, recycling, transportation, disposal or release of any Hazardous Substances.

  • Commercial sexual activity means any sex act or sexually explicit performance for which anything of value is given, promised to, or received by any person and includes, but is not limited to, prostitution, participation in the production of pornography, and performance in strip clubs.

  • Extracurricular activity means any optional, noncredit, educational or

  • Curricular activity means an activity, course, or program that is:

  • University-sponsored activity means any activity on or off University premises, which is initiated, aided, authorized, or supervised by the University.

  • Co-curricular activity means an activity, course, or program that:

  • Dental laboratory means a person, firm or corporation

  • Mitigation Measures means “mitigation measures” as defined in subsection 2(1) of the Canadian Environmental Assessment Act, 2012.

  • Recall means any measure aimed at achieving the return of a device that has already been made available to the end user;

  • Covered Activity means any activity in which a Covered Person must be engaged when a Covered Accident occurs in order to be eligible for benefits under the Policy. These Covered Activities are listed in the Schedule of Benefits and described in the Hazards section of the Policy.

  • Active duty military means full-time duty status in the active uniformed service of the United States, including members of the National Guard and Reserve on active duty orders pursuant to 10 U.S.C. Section 1209 and 1211.

  • Medical malpractice settlement means any written agreement and release entered into by or on

  • Response activity means evaluation, interim response activity, remedial action, demolition, providing an alternative water supply, or the taking of other actions necessary to protect the public health, safety, or welfare, or the environment or the natural resources. Response activity also includes health assessments or health effect studies carried out under the supervision, or with the approval of, the department of community health and enforcement actions related to any response activity.

  • SEF Activity means business for which a Participant is subject to the BSEF Rules, which is purportedly conducted subject to the BSEF Rules, or which should have been conducted subject to the BSEF Rules including Permitted Transactions and Block Trades.

  • Commercial activity means any activity or employment of the vessel for which a contract or charter party is in force and includes the carriage of any cargo or persons for reward;

  • Medical malpractice insurance means insurance against legal liability incident to the practice and provision of a medical service other than the practice and provision of a dental service.

  • Education program or activity means locations, events, or circumstances for which the school district exercises substantial control over both the respondent and the context in which the sexual harassment occurs and includes school district education programs or activities that occur on or off of school district property.

  • Development Activity means any activity defined as Development which will necessitate a Floodplain Development Permit. This includes buildings, structures, and non-structural items, including (but not limited to) fill, bulkheads, piers, pools, docks, landings, ramps, and erosion control/stabilization measures.

  • member of the work-related activity group means a person who has or is treated as having limited capability for work under either—

  • Reduction in Force means abolition of positions in an agency or part of an agency and the corresponding nondisciplinary removal of affected employees from such positions through separation from employment or through displacement to other positions.

  • Construction activity means any clearing, grading or excavation associated with large construction activity or associated with small construction activity.

  • Commercial cannabis activity means the production, cultivation,

  • Financial Crime Risk Management Activity means any action to meet Compliance Obligations relating to or in connection with the detection, investigation and prevention of Financial Crime that the Bank or members of the HSBC Group may take.