Guam 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 Guam Pooling and Servicing Agreement (PSA) is a legal document that outlines the terms and conditions under which a company will sell mortgage loans to a trustee for inclusion in a trust fund. This agreement is a crucial component of the securitization process, where mortgage loans are packaged together and sold as securities to investors. The Guam PSA sets forth the responsibilities and obligations of the company, also known as the originator or seller, as well as the trustee. It outlines the procedures for transferring the mortgage loans, including the necessary documentation and conveyance of title. The agreement may also cover provisions related to loan servicing, cash flow management, and investor reporting. The structure of a Guam PSA can vary depending on the specific requirements and preferences of the parties involved. Different types of Guam PSA contemplating the sale of mortgage loans to the trustee for inclusion in the trust fund by the company may include: 1. Standard PSA: This is the most common type of agreement used in mortgage securitization. It typically includes provisions regarding loan eligibility criteria, representations and warranties, payment waterfall (how funds are distributed to investors), and other general terms. 2. Master PSA: In cases where multiple mortgage loan originators are involved, a Master PSA may be used. This agreement sets forth the general terms applicable to all loan transfers and serves as a framework for individual loan schedules. 3. Trust Indenture: This type of agreement is typically used in asset-backed securities issuance. It outlines the rights and obligations of the trustee and the investors, as well as the terms of the trust fund and the priority of payments. 4. Co-Issuance Agreement: In certain transactions, mortgage loans may be sold to multiple trustees or issuers simultaneously. A Co-Issuance Agreement establishes the relationship between the parties involved and sets the terms for loan transfers and investor distributions. 5. Supplemental Agreement: Over time, changes or modifications may be needed in the original PSA. A Supplemental Agreement allows the parties to amend specific provisions without re-executing the entire agreement. In conclusion, a Guam Pooling and Servicing Agreement contemplating the sale of mortgage loans to a trustee for inclusion in the trust fund by a company is a vital document in the securitization process. It defines the roles and responsibilities of the originator and trustee, ensuring a smooth transfer of mortgage loans into the trust fund. Understanding the various types of Guam SAS enables parties to choose the most appropriate structure for their specific securitization transaction.

A Guam Pooling and Servicing Agreement (PSA) is a legal document that outlines the terms and conditions under which a company will sell mortgage loans to a trustee for inclusion in a trust fund. This agreement is a crucial component of the securitization process, where mortgage loans are packaged together and sold as securities to investors. The Guam PSA sets forth the responsibilities and obligations of the company, also known as the originator or seller, as well as the trustee. It outlines the procedures for transferring the mortgage loans, including the necessary documentation and conveyance of title. The agreement may also cover provisions related to loan servicing, cash flow management, and investor reporting. The structure of a Guam PSA can vary depending on the specific requirements and preferences of the parties involved. Different types of Guam PSA contemplating the sale of mortgage loans to the trustee for inclusion in the trust fund by the company may include: 1. Standard PSA: This is the most common type of agreement used in mortgage securitization. It typically includes provisions regarding loan eligibility criteria, representations and warranties, payment waterfall (how funds are distributed to investors), and other general terms. 2. Master PSA: In cases where multiple mortgage loan originators are involved, a Master PSA may be used. This agreement sets forth the general terms applicable to all loan transfers and serves as a framework for individual loan schedules. 3. Trust Indenture: This type of agreement is typically used in asset-backed securities issuance. It outlines the rights and obligations of the trustee and the investors, as well as the terms of the trust fund and the priority of payments. 4. Co-Issuance Agreement: In certain transactions, mortgage loans may be sold to multiple trustees or issuers simultaneously. A Co-Issuance Agreement establishes the relationship between the parties involved and sets the terms for loan transfers and investor distributions. 5. Supplemental Agreement: Over time, changes or modifications may be needed in the original PSA. A Supplemental Agreement allows the parties to amend specific provisions without re-executing the entire agreement. In conclusion, a Guam Pooling and Servicing Agreement contemplating the sale of mortgage loans to a trustee for inclusion in the trust fund by a company is a vital document in the securitization process. It defines the roles and responsibilities of the originator and trustee, ensuring a smooth transfer of mortgage loans into the trust fund. Understanding the various types of Guam SAS enables parties to choose the most appropriate structure for their specific securitization transaction.