Indiana 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 Indiana Pooling and Servicing Agreements (SAS) serve as legal contracts that govern the sale and transfer of mortgage loans to a designated Trustee for inclusion in a Trust Fund by a company. These agreements are crucial in the securitization process, as they outline the terms, conditions, and rights of all parties involved. SAS pertaining to the sale of mortgage loans in Indiana typically encompass the following key elements: 1. Loan Transfer: The agreement clearly defines the process by which mortgage loans are transferred from the originating lender to the designated Trustee. It outlines the necessary documents, timing, and specific requirements for a valid loan transfer. 2. Trust Fund: The PSA establishes a Trust Fund into which the mortgage loans are placed. This fund is often organized as a trust or special purpose vehicle (SPV) and serves as a repository for the bundled mortgage loans. The agreement outlines the responsibilities, duties, and limitations of the Trustee in managing the Trust Fund and administering the mortgage loans on behalf of investors. 3. Payment Distribution: The PSA elucidates the manner and frequency of distributing payments received from the mortgage loans to investors who hold securities backed by the Trust Fund. It delineates the priority of payments, waterfall structures, and applicable interest rates. 4. Investor Protection: The agreement includes provisions aimed at protecting investors, such as representations and warranties made by the company about the quality and accuracy of the mortgage loans being transferred. It may also include certain recourse mechanisms in case of default or breach of contract. 5. Servicing Rights: SAS may address the issue of servicing rights, specifying whether the originating lender retains the right to service the mortgage loans or if they are transferred to a separate servicing entity. It outlines the responsibilities of the service and the compensation they receive for managing the loans. These are some key aspects covered by Indiana Pooling and Servicing Agreements contemplating the sale of mortgage loans to a Trustee for inclusion in the Trust Fund. While variations in the terms and specific provisions might exist across different agreements, the core purpose remains the same: to facilitate the securitization process while establishing clear guidelines for all involved parties.

Indiana Pooling and Servicing Agreements (SAS) serve as legal contracts that govern the sale and transfer of mortgage loans to a designated Trustee for inclusion in a Trust Fund by a company. These agreements are crucial in the securitization process, as they outline the terms, conditions, and rights of all parties involved. SAS pertaining to the sale of mortgage loans in Indiana typically encompass the following key elements: 1. Loan Transfer: The agreement clearly defines the process by which mortgage loans are transferred from the originating lender to the designated Trustee. It outlines the necessary documents, timing, and specific requirements for a valid loan transfer. 2. Trust Fund: The PSA establishes a Trust Fund into which the mortgage loans are placed. This fund is often organized as a trust or special purpose vehicle (SPV) and serves as a repository for the bundled mortgage loans. The agreement outlines the responsibilities, duties, and limitations of the Trustee in managing the Trust Fund and administering the mortgage loans on behalf of investors. 3. Payment Distribution: The PSA elucidates the manner and frequency of distributing payments received from the mortgage loans to investors who hold securities backed by the Trust Fund. It delineates the priority of payments, waterfall structures, and applicable interest rates. 4. Investor Protection: The agreement includes provisions aimed at protecting investors, such as representations and warranties made by the company about the quality and accuracy of the mortgage loans being transferred. It may also include certain recourse mechanisms in case of default or breach of contract. 5. Servicing Rights: SAS may address the issue of servicing rights, specifying whether the originating lender retains the right to service the mortgage loans or if they are transferred to a separate servicing entity. It outlines the responsibilities of the service and the compensation they receive for managing the loans. These are some key aspects covered by Indiana Pooling and Servicing Agreements contemplating the sale of mortgage loans to a Trustee for inclusion in the Trust Fund. While variations in the terms and specific provisions might exist across different agreements, the core purpose remains the same: to facilitate the securitization process while establishing clear guidelines for all involved parties.