A Phoenix Arizona Pooling and Servicing Agreement refers to a legal contract between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc., outlining the terms and conditions of a pool of mortgage loans. This agreement describes the responsibilities and rights of the parties involved in managing and servicing the mortgage loans that are typically securitized into a mortgage-backed security (MBS). Keywords: Phoenix Arizona Pooling and Servicing Agreement, IMPACT Secured Assets Corp., iMac Funding Corp., Northwest Bank Minnesota, National Assoc., mortgage loans, securitized, mortgage-backed security, MBS. 1. Conventional Mortgage Pooling and Servicing Agreement: This type of agreement is established when conventional mortgage loans are pooled and serviced by IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. It includes the terms and conditions associated with these specific types of mortgage loans. 2. Government-Backed Mortgage Pooling and Servicing Agreement: This particular agreement focuses on pooling and servicing government-backed mortgage loans, such as FHA or VA loans. It outlines the specific requirements, regulations, and responsibilities associated with managing this type of mortgage pool. 3. Non-Performing Loan Pooling and Servicing Agreement: In cases where the mortgage loans in the pool are non-performing, meaning the borrowers are not making regular payments, a non-performing loan pooling and servicing agreement is utilized. This agreement outlines the strategies and procedures for managing and attempting to recover these delinquent loans. 4. Subprime Mortgage Pooling and Servicing Agreement: If the mortgage loans in the pool are categorized as subprime, which generally refers to loans granted to borrowers with lower credit scores or significant financial risk, a subprime mortgage pooling and servicing agreement will be established. This agreement addresses the unique considerations and risk management strategies associated with subprime loans. 5. Commercial Mortgage Pooling and Servicing Agreement: In cases where the mortgage pool consists of commercial properties, such as office buildings, retail spaces, or industrial complexes, a commercial mortgage pooling and servicing agreement is employed. This agreement outlines the specific terms and conditions related to commercial mortgage loans, including property valuation, lease agreements, and income generation. It is important to note that the specific terms, conditions, and variations within these agreements may differ based on the individual circumstances, lending practices, and legal requirements.
Phoenix Arizona Pooling and Servicing Agreement between IMPAC Secured Assets Corp., IMAC Funding Corp. and Northwest Bank Minnesota, National Assoc.
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