Georgia Pooling and Servicing Agreement contemplating the sale of mortgage loans to Trustee for inclusion in the Trust Fund by the company

• Category: Real Estate - Mortgages and Deeds of Trust
• State: Multi-State
• Control #: US-EG-9219
• Format: Word; Rich Text

Description

Pooling and Servicing Agreement between MLCC Mortgage Investors, Inc., Merrill Lynch Credit Corporation and Bankers Trust Company of California, NA contemplating the sale of mortgage loans to Trustee for inclusion in the Trust Fund by the company dated A Georgia Pooling and Servicing Agreement (PSA) is a legal contract that outlines the terms and conditions of the sale and servicing of mortgage loans to a trustee, who includes them in a trust fund. This agreement is essential in the securitization process, where mortgage loans are pooled together and sold as mortgage-backed securities to investors. The Georgia PSA ensures that the mortgage loans meet certain eligibility criteria for inclusion in the trust fund. It covers various aspects such as loan origination, payment collection, default management, and the responsibilities of the trustee and service. The agreement also includes provisions for the allocation of cash flows from the mortgage loans to investors and the rights and obligations of the parties involved. Keywords: Georgia Pooling and Servicing Agreement, sale of mortgage loans, Trustee, inclusion in the Trust Fund, company. Different types of Georgia Pooling and Servicing Agreements include: 1. Residential Mortgage PSA: This agreement specifically pertains to the securitization of residential mortgage loans. It outlines the rules and regulations governing the pooling and servicing of these loans in the trust fund. 2. Commercial Mortgage PSA: This type of agreement focuses on the pooling and servicing of commercial mortgage loans. It addresses the unique considerations and requirements associated with commercial real estate financing. 3. Government-Backed Mortgage PSA: In cases where the mortgage loans are guaranteed or insured by a government entity (such as FHA or VA loans), a specialized PSA is used. This agreement incorporates the additional guidelines and regulations imposed by the government in the securitization process. 4. Non-Performing Loan PSA: When a mortgage loan is in default or is considered non-performing, a distinct PSA may be utilized. This agreement outlines specific procedures for managing and attempting to rehabilitate these troubled loans, maximizing recovery for investors. In each of these cases, the Georgia Pooling and Servicing Agreement serves as a crucial document that protects the rights and interests of the parties involved, ensuring compliance with relevant laws and regulations while facilitating the efficient securitization of mortgage loans.

A Georgia Pooling and Servicing Agreement (PSA) is a legal contract that outlines the terms and conditions of the sale and servicing of mortgage loans to a trustee, who includes them in a trust fund. This agreement is essential in the securitization process, where mortgage loans are pooled together and sold as mortgage-backed securities to investors. The Georgia PSA ensures that the mortgage loans meet certain eligibility criteria for inclusion in the trust fund. It covers various aspects such as loan origination, payment collection, default management, and the responsibilities of the trustee and service. The agreement also includes provisions for the allocation of cash flows from the mortgage loans to investors and the rights and obligations of the parties involved. Keywords: Georgia Pooling and Servicing Agreement, sale of mortgage loans, Trustee, inclusion in the Trust Fund, company. Different types of Georgia Pooling and Servicing Agreements include: 1. Residential Mortgage PSA: This agreement specifically pertains to the securitization of residential mortgage loans. It outlines the rules and regulations governing the pooling and servicing of these loans in the trust fund. 2. Commercial Mortgage PSA: This type of agreement focuses on the pooling and servicing of commercial mortgage loans. It addresses the unique considerations and requirements associated with commercial real estate financing. 3. Government-Backed Mortgage PSA: In cases where the mortgage loans are guaranteed or insured by a government entity (such as FHA or VA loans), a specialized PSA is used. This agreement incorporates the additional guidelines and regulations imposed by the government in the securitization process. 4. Non-Performing Loan PSA: When a mortgage loan is in default or is considered non-performing, a distinct PSA may be utilized. This agreement outlines specific procedures for managing and attempting to rehabilitate these troubled loans, maximizing recovery for investors. In each of these cases, the Georgia Pooling and Servicing Agreement serves as a crucial document that protects the rights and interests of the parties involved, ensuring compliance with relevant laws and regulations while facilitating the efficient securitization of mortgage loans.