Minnesota Pooling and Servicing Agreement of Ameriquest Mortgage Securities, Inc.: A pooling and servicing agreement (PSA) is a legal contract that governs the responsibilities and rights of parties involved in a mortgage-backed securities (MBS) transaction. Specifically, the Minnesota Pooling and Servicing Agreement of Ameriquest Mortgage Securities, Inc. outlines the terms and conditions related to the pooling of mortgage loans and the subsequent servicing of those loans. The agreement allows Ameriquest Mortgage Securities, Inc., a financial institution specializing in mortgage-backed securities, to bundle multiple mortgage loans together and create a securitized pool of assets. These pooled assets are then sold to investors as MBS, where the investors contribute funds in exchange for a share in the cash flows generated from the underlying mortgage loans. The Minnesota Pooling and Servicing Agreement of Ameriquest Mortgage Securities, Inc. includes crucial details about the composition and management of the securitized pool. It outlines the types of mortgage loans that can be included, which may vary depending on the specific agreement. The agreement also determines the eligibility criteria for loans, such as the credit score requirements, debt-to-income ratios, and documentation standards. Furthermore, this agreement specifies the responsibilities of the service, which is the entity responsible for collecting monthly payments from borrowers and distributing them to investors. It outlines the servicing provisions, including loan modification protocols, foreclosure procedures, and default management guidelines. The agreement also describes the compensation structure for the service, typically a portion of the interest collected from the mortgage loans. The Minnesota Pooling and Servicing Agreement of Ameriquest Mortgage Securities, Inc. may also encompass different types of MBS depending on the underlying mortgage loans. For example, it could cover residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMOS), or even asset-backed securities (ABS) involving other types of loans such as auto loans or credit card receivables. Each type of MBS has its own unique characteristics, risk profiles, and regulatory requirements. In conclusion, the Minnesota Pooling and Servicing Agreement of Ameriquest Mortgage Securities, Inc. is a comprehensive contract that governs the process of pooling mortgage loans and issuing mortgage-backed securities. It outlines the eligibility criteria for loans, the responsibilities of the service, and the compensation structure. Given the various types of MBS that Ameriquest Mortgage Securities, Inc. deals with, there may be different agreements tailored to the specific classification of assets, such as RMBS, CMOS, and ABS.
Minnesota Pooling and Servicing Agreement of Ameriquest Mortgage Securities, Inc.
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The Pooling and Servicing Agreement can be a stand-alone document or it can be part of another paper, usually called the ?Prospectus.? If the securitization is public, these documents must be filed with the Securities and Exchange Commission (SEC), and will be available to the public at .sec.gov.
Status: CLOSED. Long Beach was closed by Washington Mutual in 2007. History: Originally a California-based savings and loan, founded in 1979, Long Beach Bank became a federally chartered thrift institution in 1990. In October 1994, it became Long Beach Mortgage Co.
On September 1, 2007, Citigroup completed its acquisition of Argent Mortgage and AMC Mortgage Services, shutting down Ameriquest Mortgage.
Employer Identification No.) 1100 TOWN & COUNTRY ROAD, SUITE 1100 ORANGE, CALIFORNIA 92868 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (714) 541-9960 Item 5.