A Kentucky Pooling and Servicing Agreement is a legal document that outlines the responsibilities and obligations of all parties involved in a mortgage-backed securitization transaction. The agreement is specifically between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. This agreement establishes the terms by which IMPACT Secured Assets Corp. transfers a pool of mortgage loans to iMac Funding Corp., who in turn sells interests in the pool to investors. Northwest Bank Minnesota, National Assoc. Acts as the trustee for the securitization, ensuring that the terms of the agreement are adhered to. The main purpose of a Kentucky Pooling and Servicing Agreement is to define the rights and duties of each party. This includes specifics regarding the administration and servicing of the mortgage loans, the distribution of cash flows to investors, and the allocation of losses in the event of default. The agreement also provides guidelines for the handling of any potential disputes. Different types of Kentucky Pooling and Servicing Agreements may exist between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. Depending on the characteristics of the mortgage loans being securitized. For instance, the agreement may differ if the pool consists of residential mortgages, commercial mortgages, or a combination of both. Additionally, the terms and conditions may vary based on the credit quality of the loans and other risk factors. Keywords: Kentucky Pooling and Servicing Agreement, IMPACT Secured Assets Corp., iMac Funding Corp., Northwest Bank Minnesota, National Assoc., mortgage-backed securitization, responsibilities, obligations, terms, mortgage loans, investors, trustee, administration, servicing, cash flows, losses, default, disputes, residential mortgages, commercial mortgages, credit quality, risk factors.
Kentucky Pooling and Servicing Agreement between IMPAC Secured Assets Corp., IMAC Funding Corp. and Northwest Bank Minnesota, National Assoc.
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