A Mecklenburg North Carolina Pooling and Servicing Agreement is a contractual agreement between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. This agreement outlines the terms and conditions for the pooling and servicing of mortgage loans within Mecklenburg County, North Carolina. It is a comprehensive legal document that governs the responsibilities, rights, and obligations of all parties involved. Key aspects addressed within the Mecklenburg North Carolina Pooling and Servicing Agreement include loan origination, mortgage loan pools, servicing rights and responsibilities, loan payments and distributions, default and foreclosure procedures, accounting and reporting requirements, and indemnification provisions. It aims to ensure compliance with applicable laws and regulations while facilitating efficient mortgage loan operations. Different types of Mecklenburg North Carolina Pooling and Servicing Agreements between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. May exist based on specific loan characteristics or financing arrangements. Some potential variations may include: 1. Residential Pooling and Servicing Agreement: This type of agreement pertains to residential mortgage loans within Mecklenburg County. It outlines the specific terms and conditions related to the pooling and servicing of residential mortgages. 2. Commercial Pooling and Servicing Agreement: This agreement focuses on commercial mortgage loans within Mecklenburg County. It addresses the unique aspects of pooling and servicing commercial mortgages, such as commercial property types and loan structures. 3. Government-Backed Pooling and Servicing Agreement: A specialized agreement designed for pooling and servicing government-backed mortgage loans, such as those insured by the Federal Housing Administration (FHA), guaranteed by the Veterans Administration (VA), or backed by the US Department of Agriculture (USDA). It ensures compliance with the additional regulations and requirements associated with these programs. 4. Subservicing Agreement: In some instances, Northwest Bank Minnesota, National Assoc. May enter into a subservicing agreement with IMPACT Secured Assets Corp. and iMac Funding Corp. This agreement delegates the servicing responsibilities to another entity, typically a specialized mortgage service, while maintaining ownership of the loans within the overall pooling and servicing framework. These are just a few examples of potential variations in Mecklenburg North Carolina Pooling and Servicing Agreements between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. The exact terms, conditions, and types of agreements may vary depending on the specific needs, loan types, and regulatory requirements involved in each arrangement.
Mecklenburg North Carolina Pooling and Servicing Agreement between IMPAC Secured Assets Corp., IMAC Funding Corp. and Northwest Bank Minnesota, National Assoc.
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