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To put simply, the deed is the legal document that proves who holds title to a property, while a mortgage is an agreement between a financial lender and borrower to repay the amount borrowed to purchase a home.
A Pooling and Servicing Agreement (PSA) is a legal document that contains all of the rights and responsibilities of a servicer, a trustee, and any others presiding over a pool of mortgage loans.
A loan servicing agreement is a legal agreement between a lender and a third party, the servicer, that outlines the terms and conditions for which that third party will provide loan servicing services.
While "mortgage-backed security" is a broad term describing asset-backed securities, a collateralized mortgage obligation is a more specific class of mortgage-backed security. A CMO is one type of MBS that is divided into categories based on risk and maturity dates.
A mortgage pool is a form of alternative investment that provides mortgages to those who may not be approved through usual methods. Essentially, a group of investors pool their money together and invest in projects that range from commercial to residential property.
Mortgage securitization is the process of bundling many mortgages into a pool, and then selling shares of that pool as bonds.
If your circumstances change any you are no longer able to make your payments, your Trust Deed may fail and you will still be liable for your debts or even forced into bankruptcy.
What is the advantage of a deed of trust over a mortgage? A deed of trust has a crucial advantage over a mortgage from the lender's point of view. If the borrower defaults on the loan, then the trustee has the power to foreclose on the property on behalf of the beneficiary.
Once a lender completes a mortgage transaction, it usually sells the mortgage to another entity, such as Fannie Mae or Freddie Mac. Those entities then package the mortgages together into a mortgage pool and the mortgage pool then acts as collateral for a mortgage-backed security. 1.
A mortgage involves only two parties: the borrower and the lender. A deed of trust has a borrower, lender and a ?trustee.? The trustee is a neutral third party that holds the title to a property until the loan is completely paid off by the borrower.