The fresh new Assistant shall following bring such as for example action to get since Assistant decides appropriate This new owner of one’s certification could possibly get start property foreclosure procedures (once bringing composed notice of these action toward Assistant) and you can on a final purchase from the judge authorizing foreclosure and submission with the Assistant out-of a state to possess payment under the be certain that, the Assistant will pay to the proprietor of one’s certificate the new pro rata portion of the amount guaranteed (because calculated pursuant so you’re able to subsection (e)) plus sensible costs and you may expenses as the authorized by the Secretary. Brand new Secretary is subrogated into the liberties of your own holder of your own ensure and also the financial manager will assign the duty and you will coverage to the Assistant. Rather than looking to property foreclosure (or perhaps in one situation where a foreclosure proceeding started below clause (i) continues on for a time in excess of one year), the latest manager of your own make certain get submit to this new Secretary a request to designate the duty and safeguards focus into the Assistant in exchange for commission […]