Arkansas Pooling and Servicing Agreement between Greenpoint Credit, LLC and Bank One, National Association

• Category: Corporations - Public - Pooling and Servicing
• State: Multi-State
• Control #: US-EG-9195
• Format: Word; Rich Text

Description

Pooling and Servicing Agreement between Greenpoint Credit, LLC and Bank One, National Association dated December 1, 1999. 112 pages Arkansas Pooling and Servicing Agreement: Explained The Arkansas Pooling and Servicing Agreement serves as a crucial legal document outlining the terms and conditions agreed upon between Green point Credit, LLC and Bank One, National Association. This agreement is a significant aspect of the securitization process within the mortgage industry and plays a pivotal role in the management of mortgage-backed securities (MBS). In its essence, the Arkansas Pooling and Servicing Agreement devotes attention to the pooling of mortgage loans by Green point Credit, LLC and their subsequent transfer to Bank One, National Association. Green point Credit, LLC acts as the originator of the mortgages, whereas Bank One, National Association assumes the role of trustee on behalf of the investors who own the MBS. This pooling and servicing agreement sets forth numerous crucial provisions that encompass various aspects of the securitization process. It typically covers key areas such as mortgage loan characteristics, cash flow distribution, loan servicing standards, rights and responsibilities of each party, recourse provisions, and resolution of disputes, among others. Different Types of Arkansas Pooling and Servicing Agreements: 1. Traditional Pooled Mortgages: This type of pooling and servicing agreement sees Green point Credit, LLC bundling a variety of individual mortgage loans into a pool, which carries a specific aggregate principal balance. 2. First Lien Mortgage Pools: In such agreements, Green point Credit, LLC consolidates only first lien mortgage loans. This type of pooling includes mortgages that have priority lien rights over any other claims on the property. 3. Second Lien Mortgage Pools: These agreements involve the bundling of second lien mortgage loans by Green point Credit, LLC. Second lien mortgages hold secondary priority claims on the property, subordinate to any first lien positions. 4. Fixed-Rate Mortgage Pools: This type of pooling and servicing agreement is specific to mortgage loans with fixed interest rates. Green point Credit, LLC pools and transfers mortgages that carry a predetermined interest rate over their entire term. 5. Adjustable-Rate Mortgage Pools: Here, Green point Credit, LLC pools and subsequently transfers adjustable-rate mortgages (ARM's) to Bank One, National Association. Such agreements involve mortgage loans with interest rates that may fluctuate based on specific indices and predetermined adjustment periods. 6. Residential Mortgage-Backed Securities (RMBS): This type of agreement involves the pooling and transfer of mortgage loans that are ultimately repackaged into securities and sold to investors for investment purposes. The Arkansas Pooling and Servicing Agreement between Green point Credit, LLC and Bank One, National Association is a crucial mechanism that facilitates the securitization process while outlining the respective roles and responsibilities of the involved parties. It ensures compliance with legal requirements and sets the foundation for the successful management of mortgage-backed securities.

Arkansas Pooling and Servicing Agreement: Explained The Arkansas Pooling and Servicing Agreement serves as a crucial legal document outlining the terms and conditions agreed upon between Green point Credit, LLC and Bank One, National Association. This agreement is a significant aspect of the securitization process within the mortgage industry and plays a pivotal role in the management of mortgage-backed securities (MBS). In its essence, the Arkansas Pooling and Servicing Agreement devotes attention to the pooling of mortgage loans by Green point Credit, LLC and their subsequent transfer to Bank One, National Association. Green point Credit, LLC acts as the originator of the mortgages, whereas Bank One, National Association assumes the role of trustee on behalf of the investors who own the MBS. This pooling and servicing agreement sets forth numerous crucial provisions that encompass various aspects of the securitization process. It typically covers key areas such as mortgage loan characteristics, cash flow distribution, loan servicing standards, rights and responsibilities of each party, recourse provisions, and resolution of disputes, among others. Different Types of Arkansas Pooling and Servicing Agreements: 1. Traditional Pooled Mortgages: This type of pooling and servicing agreement sees Green point Credit, LLC bundling a variety of individual mortgage loans into a pool, which carries a specific aggregate principal balance. 2. First Lien Mortgage Pools: In such agreements, Green point Credit, LLC consolidates only first lien mortgage loans. This type of pooling includes mortgages that have priority lien rights over any other claims on the property. 3. Second Lien Mortgage Pools: These agreements involve the bundling of second lien mortgage loans by Green point Credit, LLC. Second lien mortgages hold secondary priority claims on the property, subordinate to any first lien positions. 4. Fixed-Rate Mortgage Pools: This type of pooling and servicing agreement is specific to mortgage loans with fixed interest rates. Green point Credit, LLC pools and transfers mortgages that carry a predetermined interest rate over their entire term. 5. Adjustable-Rate Mortgage Pools: Here, Green point Credit, LLC pools and subsequently transfers adjustable-rate mortgages (ARM's) to Bank One, National Association. Such agreements involve mortgage loans with interest rates that may fluctuate based on specific indices and predetermined adjustment periods. 6. Residential Mortgage-Backed Securities (RMBS): This type of agreement involves the pooling and transfer of mortgage loans that are ultimately repackaged into securities and sold to investors for investment purposes. The Arkansas Pooling and Servicing Agreement between Green point Credit, LLC and Bank One, National Association is a crucial mechanism that facilitates the securitization process while outlining the respective roles and responsibilities of the involved parties. It ensures compliance with legal requirements and sets the foundation for the successful management of mortgage-backed securities.