Underwriting Agreement of ABFS Mortgage Loan Trust 1999-4 and Prudential Securities Incorporation dated October 21, 1999. 20 pages
The Georgia Underwriting Agreement of ABCs Mortgage Loan Trust 1999-4 is a legally binding agreement between the ABCs Mortgage Loan Trust 1999-4 (the "Trust") and Prudential Securities, Inc. (Prudential). This agreement outlines the terms and conditions that govern the underwriting of mortgage loans by Prudential on behalf of the Trust in the state of Georgia. Under this agreement, Prudential assumes the role of underwriter and agrees to purchase a specified number or dollar amount of mortgage loans from the Trust at a predetermined price. The underwriting process involves conducting due diligence, assessing the creditworthiness of borrowers, and ensuring compliance with relevant laws and regulations. The main objective of this agreement is to mitigate risk for the Trust by transferring it to Prudential. Prudential, in turn, assumes the responsibility of marketing and selling these mortgage loans to investors in the secondary market. By doing so, it helps provide liquidity to the Trust, allowing it to continue originating new mortgages. Different types of Georgia Underwriting Agreements of ABCs Mortgage Loan Trust 1999-4 and Prudential Securities, Inc. may include variations in loan criteria, risk allocation, pricing, and the extent of underwriting services provided. These variations could be specific to different tranches (classes or categories) of mortgage loans, geographical regions within Georgia, or even different issuance dates or series of the Trust. The agreement typically includes key provisions such as representations and warranties made by the Trust, indemnification clauses, conditions for the closing of the transaction, and compensation terms for Prudential's services. Keywords: Georgia Underwriting Agreement, ABCs Mortgage Loan Trust 1999-4, Prudential Securities, Inc., underwriting, mortgage loans, risk mitigation, secondary market, liquidity, due diligence, creditworthiness, compliance, loan criteria, risk allocation, pricing, tranches, representations, warranties, indemnification, closing, compensation.
The Georgia Underwriting Agreement of ABCs Mortgage Loan Trust 1999-4 is a legally binding agreement between the ABCs Mortgage Loan Trust 1999-4 (the "Trust") and Prudential Securities, Inc. (Prudential). This agreement outlines the terms and conditions that govern the underwriting of mortgage loans by Prudential on behalf of the Trust in the state of Georgia. Under this agreement, Prudential assumes the role of underwriter and agrees to purchase a specified number or dollar amount of mortgage loans from the Trust at a predetermined price. The underwriting process involves conducting due diligence, assessing the creditworthiness of borrowers, and ensuring compliance with relevant laws and regulations. The main objective of this agreement is to mitigate risk for the Trust by transferring it to Prudential. Prudential, in turn, assumes the responsibility of marketing and selling these mortgage loans to investors in the secondary market. By doing so, it helps provide liquidity to the Trust, allowing it to continue originating new mortgages. Different types of Georgia Underwriting Agreements of ABCs Mortgage Loan Trust 1999-4 and Prudential Securities, Inc. may include variations in loan criteria, risk allocation, pricing, and the extent of underwriting services provided. These variations could be specific to different tranches (classes or categories) of mortgage loans, geographical regions within Georgia, or even different issuance dates or series of the Trust. The agreement typically includes key provisions such as representations and warranties made by the Trust, indemnification clauses, conditions for the closing of the transaction, and compensation terms for Prudential's services. Keywords: Georgia Underwriting Agreement, ABCs Mortgage Loan Trust 1999-4, Prudential Securities, Inc., underwriting, mortgage loans, risk mitigation, secondary market, liquidity, due diligence, creditworthiness, compliance, loan criteria, risk allocation, pricing, tranches, representations, warranties, indemnification, closing, compensation.