A District of Columbia Pooling and Servicing Agreement is a legal contract between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. That outlines the terms and conditions of a pooled mortgage loan securitization transaction. This agreement governs the rights and responsibilities of each party involved in the securitization process, ensuring efficient management of the pooled mortgage loans. Keywords: District of Columbia, Pooling and Servicing Agreement, IMPACT Secured Assets Corp., iMac Funding Corp., Northwest Bank Minnesota, National Assoc., mortgage loan securitization, pooled mortgage loans. There may be different types of District of Columbia Pooling and Servicing Agreements between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. These variations could include: 1. Residential Mortgage Pooling and Servicing Agreement: This type of agreement focuses on pooling and servicing residential mortgage loans originated by IMPACT Secured Assets Corp., iMac Funding Corp., and serviced by Northwest Bank Minnesota, National Assoc. It establishes the guidelines for loan collection, distribution of payments, and loan administration. 2. Commercial Mortgage Pooling and Servicing Agreement: This agreement pertains to pooling and servicing commercial mortgage loans originated by IMPACT Secured Assets Corp., iMac Funding Corp., and serviced by Northwest Bank Minnesota, National Assoc. The terms and conditions related to the management of these commercial loans, including payment collection and loan administration, are specified within this agreement. 3. Distressed Mortgage Pooling and Servicing Agreement: In cases where IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. Deal with distressed mortgage loans, this agreement would outline the provisions for managing and servicing such assets. It may include details regarding loan modifications, loss mitigation strategies, and foreclosure procedures. 4. Government-Backed Mortgage Pooling and Servicing Agreement: This type of agreement concerns mortgage loans backed by government-sponsored enterprises (Uses) like Fannie Mae or Freddie Mac. It lays out specific requirements for pooling and servicing these government-backed loans in compliance with relevant laws and regulations. Regardless of the specific type, a District of Columbia Pooling and Servicing Agreement represents a vital agreement between these parties, ensuring the efficient and lawful management of pooled mortgage loans.
District of Columbia Pooling and Servicing Agreement between IMPAC Secured Assets Corp., IMAC Funding Corp. and Northwest Bank Minnesota, National Assoc.
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