Delaware Pooling and Servicing Agreement between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A. and Bank One

• Category: Corporations - Public - Pooling and Servicing
• State: Multi-State
• Control #: US-EG-9080
• Format: Word; Rich Text

Description

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 A Delaware Pooling and Servicing Agreement is a legally binding contract between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One. This agreement governs the pooling of mortgage assets and the servicing of these assets within the state of Delaware. The agreement outlines the terms and conditions regarding the pooling of mortgage loans from various sources. It includes provisions for the creation of mortgage-backed securities (MBS) and specifies the responsibilities and obligations of each party involved in the agreement. Under this agreement, Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One pool their mortgage assets to create a larger investment portfolio. These assets can include residential, commercial, or other types of mortgage loans. By pooling these assets, the entities aim to diversify their risk and increase liquidity. The agreement also establishes the responsibilities of the entities involved in servicing the mortgage assets. This includes tasks such as collecting monthly mortgage payments, disbursing principal and interest payments to investors, handling delinquencies, and managing the foreclosure process if necessary. In addition to the standard Delaware Pooling and Servicing Agreement, there may be different types or variations specific to the involved parties. Some possible types of agreements between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One could include: 1. Master Pooling and Servicing Agreement: This agreement outlines the general terms and conditions for pooling and servicing mortgage assets between the parties. It serves as a template for subsequent agreements and may be used as a framework for multiple transactions. 2. Securitization Pooling and Servicing Agreement: This type of agreement is specific to the securitization process, where the pooled mortgage assets are transformed into MBS and offered to investors. It includes provisions for the issuance and distribution of the MBS and outlines the rights and responsibilities of the involved parties throughout the securitization process. 3. Subservicing Agreement: In some cases, one of the parties involved may subcontract the servicing responsibilities to another entity. In this scenario, a subservicing agreement is established between one of the entities (such as Washington Mutual Bank F.A. or Bank One) and a third-party service. This agreement defines the scope of the subscriber's responsibilities and obligations. It is important for all parties involved to carefully review and understand the specific terms and conditions of the Delaware Pooling and Servicing Agreement(s) they are entering into. Consulting legal and financial professionals is strongly advised to ensure compliance with applicable laws and regulations in Delaware.

A Delaware Pooling and Servicing Agreement is a legally binding contract between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One. This agreement governs the pooling of mortgage assets and the servicing of these assets within the state of Delaware. The agreement outlines the terms and conditions regarding the pooling of mortgage loans from various sources. It includes provisions for the creation of mortgage-backed securities (MBS) and specifies the responsibilities and obligations of each party involved in the agreement. Under this agreement, Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One pool their mortgage assets to create a larger investment portfolio. These assets can include residential, commercial, or other types of mortgage loans. By pooling these assets, the entities aim to diversify their risk and increase liquidity. The agreement also establishes the responsibilities of the entities involved in servicing the mortgage assets. This includes tasks such as collecting monthly mortgage payments, disbursing principal and interest payments to investors, handling delinquencies, and managing the foreclosure process if necessary. In addition to the standard Delaware Pooling and Servicing Agreement, there may be different types or variations specific to the involved parties. Some possible types of agreements between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One could include: 1. Master Pooling and Servicing Agreement: This agreement outlines the general terms and conditions for pooling and servicing mortgage assets between the parties. It serves as a template for subsequent agreements and may be used as a framework for multiple transactions. 2. Securitization Pooling and Servicing Agreement: This type of agreement is specific to the securitization process, where the pooled mortgage assets are transformed into MBS and offered to investors. It includes provisions for the issuance and distribution of the MBS and outlines the rights and responsibilities of the involved parties throughout the securitization process. 3. Subservicing Agreement: In some cases, one of the parties involved may subcontract the servicing responsibilities to another entity. In this scenario, a subservicing agreement is established between one of the entities (such as Washington Mutual Bank F.A. or Bank One) and a third-party service. This agreement defines the scope of the subscriber's responsibilities and obligations. It is important for all parties involved to carefully review and understand the specific terms and conditions of the Delaware Pooling and Servicing Agreement(s) they are entering into. Consulting legal and financial professionals is strongly advised to ensure compliance with applicable laws and regulations in Delaware.