Code of Massachusetts Regulations
761 CMR - MASSACHUSETTS HOME MORTGAGE FINANCE AGENCY
Title 761 CMR 22.00 - Servicer's Guide
LOAN SERVICING
Section 22.14 - Notice of Liens; Bankruptcies; Probate Proceedings, etc

Universal Citation: 761 CMR 22.00 MA Code of Regs 22.14
Current through Register 1531, September 27, 2024

Servicer shall promptly notify MHMFA upon becoming aware that any lien prior to the mortgage securing any Mortgage Loan has attached or will attach. Notice shall promptly be given to MHMFA of any state insolvency or federal bankruptcy proceedings in which any Borrower is seeking relief or is a defendant debtor, of the death of any Borrower or guarantor, of the sale, transfer or vacancy of the property or the occurrence of waste, deterioration, or lack of repair of the property or of the occurrence of any other default under the terms of the Mortgage Loan as to which Servicer ha s knowledge. In the event that MHMFA directs, Servicer shall take such actions as it deems to be prudent and MHMFA shall reimburse Servicer for reasonable fees and expenses, including reasonable attorneys' fees, incurred by Servicer. Accurate records of the aforesaid matters shall be maintained by Servicer.

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