Pooling and Servicing Agr. btwn Credit Suisse First Boston Mortgage Securities Corp., Wash. Mutual Bank F.A. and Bank One - National Association dated Nov. 1, 1999. 213 pages
The California Pooling and Servicing Agreement (PSA) is a legal contract between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One. This agreement governs the pooling and servicing of mortgage loans in California and outlines the responsibilities and rights of each party involved. Under the PSA, Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One collaborate to create a mortgage-backed security (MBS) by pooling a specified group of residential mortgage loans. These loans are then sold to investors in the form of securities, with the pooled cash flows being distributed among the investors. Keywords: California Pooling and Servicing Agreement, Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., Bank One, mortgage loans, pooling, servicing, legal contract, responsibilities, rights, mortgage-backed security (MBS), residential mortgage loans, investors, securities, pooled cash flows. Different types of California Pooling and Servicing Agreements between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One may include: 1. Standard PSA: This is the typical agreement that establishes the primary terms and conditions for pooling and servicing mortgage loans in California. It includes provisions related to loan origination, payment processing, investor reporting, default management, and loan modification procedures. 2. Enhanced PSA: An enhanced PSA might include additional features or terms tailored to specific types of mortgage loans or investor preferences. It could involve customization of default management procedures, prepayment penalties, or special provisions for non-conforming loans. 3. Seasoned Loan Pool PSA: This type of PSA specifically addresses the pooling and servicing of mortgage loans that have a longer payment history, typically referred to as seasoned loans. The agreement may contain provisions related to loan delinquencies, workout options, and potential loan modifications. 4. Sub-servicing Agreement: In some cases, Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One may enter into a sub-servicing agreement. This agreement allows a designated third-party service to handle loan administration and processing tasks on behalf of the parties involved. The sub-series's responsibilities are outlined in this type of PSA. Each of these agreements serves to provide legal and operational guidelines to ensure the smooth pooling and servicing of mortgage loans in California while protecting the rights and interests of all parties involved.
The California Pooling and Servicing Agreement (PSA) is a legal contract between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One. This agreement governs the pooling and servicing of mortgage loans in California and outlines the responsibilities and rights of each party involved. Under the PSA, Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One collaborate to create a mortgage-backed security (MBS) by pooling a specified group of residential mortgage loans. These loans are then sold to investors in the form of securities, with the pooled cash flows being distributed among the investors. Keywords: California Pooling and Servicing Agreement, Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., Bank One, mortgage loans, pooling, servicing, legal contract, responsibilities, rights, mortgage-backed security (MBS), residential mortgage loans, investors, securities, pooled cash flows. Different types of California Pooling and Servicing Agreements between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One may include: 1. Standard PSA: This is the typical agreement that establishes the primary terms and conditions for pooling and servicing mortgage loans in California. It includes provisions related to loan origination, payment processing, investor reporting, default management, and loan modification procedures. 2. Enhanced PSA: An enhanced PSA might include additional features or terms tailored to specific types of mortgage loans or investor preferences. It could involve customization of default management procedures, prepayment penalties, or special provisions for non-conforming loans. 3. Seasoned Loan Pool PSA: This type of PSA specifically addresses the pooling and servicing of mortgage loans that have a longer payment history, typically referred to as seasoned loans. The agreement may contain provisions related to loan delinquencies, workout options, and potential loan modifications. 4. Sub-servicing Agreement: In some cases, Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One may enter into a sub-servicing agreement. This agreement allows a designated third-party service to handle loan administration and processing tasks on behalf of the parties involved. The sub-series's responsibilities are outlined in this type of PSA. Each of these agreements serves to provide legal and operational guidelines to ensure the smooth pooling and servicing of mortgage loans in California while protecting the rights and interests of all parties involved.