Examples of REO Disposition Proceeds in a sentence
Careful review of the definition is helpful:[A] Mortgage Loan includes without limitation the Mortgage File, the servicing file, the Monthly Payments, Principal Prepayments, Liquidation Proceeds,8 Condemnation Proceeds, Insurance Proceeds, REO Disposition Proceeds, any escrow accounts related to the Mortgage Loan, the Servicing Rights and all other rights, benefits, proceeds and obligations arising from or in connection with such Mortgage Loan, excluding replaced or repurchased mortgage loans.
REO Disposition Proceeds: Amounts received by the Servicer in connection with a related REO Disposition.
The Servicer's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the final disposition or liquidation of the Mortgaged Property, unless the Servicer deems such advance to be nonrecoverable from Liquidation Proceeds, REO Disposition Proceeds or Insurance Proceeds with respect to the applicable Mortgage Loan.
With respect to any REO Property, upon a REO Disposition, the Servicer shall be entitled to retain from REO Disposition Proceeds a disposition fee equal to $1,500.
REO Disposition Proceeds: All amounts received with respect to an REO Disposition pursuant to Subsection 11.13.