Georgia Pooling and Servicing Agreement between IMPAC Secured Assets Corp., IMAC Funding Corp. and Northwest Bank Minnesota, National Assoc.

• Category: Corporations - Public - Pooling and Servicing
• State: Multi-State
• Control #: US-EG-9042
• Format: Word; Rich Text

Description

Pooling and Servicing Agr. btwn IMPAC Secured Assets Corporation, IMAC Funding Corporation and Northwest Bank Minnesota, National Association dated Dec. 1, 1999. 142 pages Georgia Pooling and Servicing Agreement refers to a legally binding contract between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. This agreement outlines the terms and conditions regarding the pooling and servicing of mortgage loans in the state of Georgia. It establishes the responsibilities, rights, and obligations of each party involved in the agreement. The agreement covers several important aspects related to mortgage loan pools and servicing operations. It outlines the eligibility criteria for mortgage loans that can be included in the pool, the procedures for loan origination, underwriting standards, and quality control measures. It also addresses the payment terms, responsibilities for collecting and distributing mortgage loan payments, and reporting requirements. One of the key features of this agreement is the pooling of mortgage loans. This means that IMPACT Secured Assets Corp. and iMac Funding Corp., as the coolers, combine multiple mortgage loans into a pool. By pooling these loans, they create mortgage-backed securities, which are then sold to investors in the secondary market. The agreement also establishes Northwest Bank Minnesota, National Assoc. As the service responsible for managing the mortgage loans in the pool. The service is responsible for collecting borrower payments, handling delinquencies and defaults, paying investors, and maintaining accurate records. While the focus of this description is on the general Georgia Pooling and Servicing Agreement between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc., it is worth noting that variations of such agreements may exist depending on the specific terms agreed upon by the parties involved. These variations could include differences in loan criteria, servicing fees, and other specific provisions tailored to meet the needs of the parties or regulatory requirements.

Georgia Pooling and Servicing Agreement refers to a legally binding contract between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. This agreement outlines the terms and conditions regarding the pooling and servicing of mortgage loans in the state of Georgia. It establishes the responsibilities, rights, and obligations of each party involved in the agreement. The agreement covers several important aspects related to mortgage loan pools and servicing operations. It outlines the eligibility criteria for mortgage loans that can be included in the pool, the procedures for loan origination, underwriting standards, and quality control measures. It also addresses the payment terms, responsibilities for collecting and distributing mortgage loan payments, and reporting requirements. One of the key features of this agreement is the pooling of mortgage loans. This means that IMPACT Secured Assets Corp. and iMac Funding Corp., as the coolers, combine multiple mortgage loans into a pool. By pooling these loans, they create mortgage-backed securities, which are then sold to investors in the secondary market. The agreement also establishes Northwest Bank Minnesota, National Assoc. As the service responsible for managing the mortgage loans in the pool. The service is responsible for collecting borrower payments, handling delinquencies and defaults, paying investors, and maintaining accurate records. While the focus of this description is on the general Georgia Pooling and Servicing Agreement between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc., it is worth noting that variations of such agreements may exist depending on the specific terms agreed upon by the parties involved. These variations could include differences in loan criteria, servicing fees, and other specific provisions tailored to meet the needs of the parties or regulatory requirements.