Description: The Indiana Pooling and Servicing Agreement serves as a contractual agreement between Green point Credit, LLC and Bank One, National Association. This agreement outlines the terms and conditions for pooling and servicing mortgage loans within the state of Indiana. Under this agreement, Green point Credit, LLC (the originator of the loans) transfers a designated pool of mortgage loans to Bank One, National Association (the service). Bank One then assumes the responsibility of administering and servicing these mortgage loans on behalf of the investors. The Indiana Pooling and Servicing Agreement encompasses various aspects related to the mortgage loan pool, including loan origination, loan servicing, investor distributions, and default management. It outlines the obligations and responsibilities of both Green point Credit, LLC and Bank One, National Association to ensure compliance with relevant legal and regulatory requirements. This agreement specifies the criteria for loan eligibility within the pool, such as loan-to-value ratio, creditworthiness of borrowers, and property type. It also defines the pricing mechanism for the mortgage loans and the terms for loan repayment, including interest rates and payment schedules. In addition to the general Indiana Pooling and Servicing Agreement, there may be different types or variations of this agreement based on specific loan characteristics or investor requirements. These may include: 1. Fixed-Rate Mortgage Pooling and Servicing Agreement: This type of agreement typically pertains to mortgage loans with fixed interest rates throughout the loan term. It outlines the specifics of managing and servicing this particular type of mortgage pool. 2. Adjustable-Rate Mortgage Pooling and Servicing Agreement: This agreement focuses on mortgage loans with adjustable interest rates, where the interest rate may vary periodically based on a predetermined index. It addresses the unique considerations and requirements for servicing these adjustable-rate mortgage loans. 3. Jumbo Mortgage Pooling and Servicing Agreement: In cases where the mortgage loans within the pool exceed the conventional loan limits, a jumbo mortgage pooling and servicing agreement may be established. This agreement addresses the specific nuances associated with jumbo loans, including underwriting criteria and risk management. These are just a few examples of potential types of Indiana Pooling and Servicing Agreements that may exist between Green point Credit, LLC and Bank One, National Association. The specific terms and conditions outlined in these agreements may vary depending on the nature of the mortgage loans being pooled and serviced.
Indiana Pooling and Servicing Agreement between Greenpoint Credit, LLC and Bank One, National Association
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What is a Pooling Agreement? A pooling agreement is a type of contract where corporate shareholders create a voting trust by pooling their voting rights and transferring them to a trustee. This is also called a voting agreement or shareholder-control agreement since it is used to control the affairs of the corporation. Pooling Agreement: Definition & Sample - Contracts Counsel contractscounsel.com ? pooling-agreement contractscounsel.com ? pooling-agreement
North Fork Bancorp acquired GreenPoint Financial in October 2004 for $6.3 billion in stock. In December 2006, purchased North Fork. shut down GreenPoint by the third quarter of 2007 at an after-tax loss of $1 billion.
An MBS is made up of a pool of mortgages purchased from issuing banks and then sold to investors. An MBS allows investors to benefit from the mortgage business without needing to buy or sell home loans themselves. What Are Mortgage-Backed Securities? rocketmortgage.com ? learn ? mortgage-bac... rocketmortgage.com ? learn ? mortgage-bac...
The ?Pooling and Servicing Agreement? is the legal document that contains the responsibilities and rights of the servicer, the trustee, and others over a pool of mortgage loans.
A mortgage pool is a group of home and other real estate loans that have been bundled so they can be sold. A mortgage pool is a group of home and other real estate loans that have been bundled so they can be sold. What Is a Mortgage Pool? - The Balance thebalancemoney.com ? what-is-a-mortgage... thebalancemoney.com ? what-is-a-mortgage...
PSA is used primarily to derive an implied prepayment speed of new production loans. 00% PSA assumes a prepayment rate of 2% per month in the first month following the date of issue, increasing at 2% percentage points per month thereafter until the 30th month. PSA Prepayment Rate Definition - Nasdaq nasdaq.com ? glossary ? psa-prepayment-rate nasdaq.com ? glossary ? psa-prepayment-rate