District of Columbia Pooling and Servicing Agreement of New Century Mortgage Securities, Inc.
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FAQ
The servicing of your mortgage loan is being transferred, effective [Date]. This means that after this date, a new servicer will be collecting your mortgage loan payments from you. Nothing else about your mortgage loan will change.
The transferee servicer shall provide the notice of transfer to the borrower not more than 15 days after the effective date of the transfer.
A mortgage servicing disclosure provides information from the lender about whether or not the servicing of the loan may be transferred, sold, or assigned to some other person or entity during the life of the loan.
Know your rights under the law You have a 60-day grace period after a transfer to a new servicer.
The term "securitize" refers to the process of pooling financial assets together to create new securities that can be marketed and sold to investors. Mortgages and other forms of contractual debt are often securitized to clear them off the balance sheet of the originating company and free up credit for new lenders.
NOTE: Another way to find a PSA is to go to the SEC EDGAR search index page: .