Colorado Trust Agreement of Ameriquest Mortgage Securities, Inc. is a legal arrangement that governs the formation and operation of a trust established by Ameriquest Mortgage Securities, Inc. in the state of Colorado. This trust is established to securitize mortgage loans originated by Ameriquest and create mortgage-backed securities (MBS) for investors. Ameriquest Mortgage Securities, Inc. is a prominent financial institution engaged in the business of acquiring mortgages and bundling them into MBS. These MBS are then sold on the secondary market to investors who seek to invest in the mortgage industry. The Colorado Trust Agreement of Ameriquest Mortgage Securities, Inc. outlines the terms and conditions under which mortgage loans are pooled together, forming a trust. This trust issues certificates, representing ownership interests in the underlying mortgage loans, to investors. The certificates have different classes, also known as tranches, which have varying degrees of risk and expected returns. One of the important provisions in the Colorado Trust Agreement is the establishment of a trustee. The trustee, an independent third party, is responsible for ensuring that the terms of the agreement are followed, collecting payments from the mortgage loans, and distributing them to the certificate holders according to the agreed-upon priority of payments. The Colorado Trust Agreement also includes provisions for the service, who is responsible for managing the mortgage loans on behalf of the trust and for servicing activities such as collecting payments, handling delinquencies, and foreclosures if necessary. There may be different types of Colorado Trust Agreements issued by Ameriquest Mortgage Securities, Inc., depending on various factors such as the assets backing the trust, the characteristics of the mortgage loans, and the specific requirements of investors. These types may include agreements pertaining to prime mortgage loans, subprime mortgage loans, adjustable-rate mortgage loans, or fixed-rate mortgage loans. In conclusion, the Colorado Trust Agreement of Ameriquest Mortgage Securities, Inc. is an essential legal document that governs the creation and operation of a trust formed by Ameriquest to securitize mortgage loans. It outlines the roles and responsibilities of the trustee and service, and provides a framework for issuing certificates representing ownership interests to investors. By securitizing mortgage loans, Ameriquest can efficiently raise funds for further lending while providing an avenue for investors to participate in the mortgage market.
Colorado Trust Agreement of Ameriquest Mortgage Securities, Inc.
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Employer Identification No.) 1100 TOWN & COUNTRY ROAD, SUITE 1100 ORANGE, CALIFORNIA 92868 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (714) 541-9960 Item 5.
The "lender" is the financial institution that loaned you the money. The lender owns the loan and is also called the "note holder" or "holder." Sometime later, the lender might sell the mortgage debt to another entity, which then becomes the new loan owner (holder).
Status: CLOSED. Long Beach was closed by Washington Mutual in 2007. History: Originally a California-based savings and loan, founded in 1979, Long Beach Bank became a federally chartered thrift institution in 1990. In October 1994, it became Long Beach Mortgage Co.
?The mortgage will be transferred to another bank if the first bank experiences problems and fails, and you will need to start making payments to the new lender. You might need to refinance your mortgage with the new bank, depending on the details of the transfer.?
On September 1, 2007, Citigroup completed its acquisition of Argent Mortgage and AMC Mortgage Services, shutting down Ameriquest Mortgage.