Voluntary Conveyance. The Insured may accept a conveyance of title from the Borrower in lieu of foreclosure or other proceedings if: 1. The ability of the Insured to preserve, transfer and assign to the Company the Insured's rights against the Borrower is not impaired; and 2. The rights of the Company under this Policy against such Borrower are not adversely affected; or if 3. The written approval of the Company has been obtained; provided, however, it is understood that such approval shall not constitute nor be deemed an admission of liability by the Company with respect to coverage for the related Loan.
Appears in 3 contracts
Sources: Mortgage Insurance Agreement, Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2005-He3), Bulk Primary First Lien Master Policy (CWABS Asset-Backed Certificates Trust 2006-6)