761 CMR 20.06 - Changes in Servicer's Organization; Event of Default
Seller or Servicer shall immediately notify MHMFA of any contemplated major changes in its organization, including, but not limited to, resignation of key personnel assigned to originate or service Mortgage Loans in which MHMFA purchases Loan Participations, mergers or consolidations, changes of name or corporate charter or, if Seller or Servicer is a corporation with less than 100 stockholders, a change of ownership of one-third or more of the stock of Seller or Servicer or of any parent corporation if Seller or Servicer is a wholly owned subsidiary of another corporation. Seller or Servicer shall immediately notify MHMFA of any event of default, as described in the Loan Servicing Agreement and Loan Participation Agreement.
Notes
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