A Mississippi Pooling and Servicing Agreement (PSA) is a legal contract between Green point Credit, LLC and Bank One, National Association, related to the pooling and servicing of mortgage loans. This agreement outlines the specific terms and conditions under which these entities collaborate to manage the securitization of mortgages and the responsibilities associated with the loan portfolio. The PSA generally encompasses various details such as the mortgage loan origination criteria, servicing rights, cash flow distribution, and risk allocation. This agreement helps to facilitate the pooling of mortgage loans into a mortgage-backed security (MBS), which can then be sold to investors in the secondary market. Different types of Mississippi Pooling and Servicing Agreements may exist between Green point Credit, LLC and Bank One, National Association, depending on the specific characteristics of the mortgage loans being securitized. Some key variants or types of these agreements may include: 1. Fixed-Rate Mortgage PSA: This type of PSA involves pooling and servicing of mortgage loans with a fixed interest rate. The agreement would outline how the cash flows from these mortgages are distributed, typically on a monthly or quarterly basis. 2. Adjustable-Rate Mortgage PSA: In this agreement, Green point Credit, LLC and Bank One, National Association collaborate to pool and service mortgage loans with adjustable interest rates. The terms would specify the adjustments in interest rates, the methodology for calculating the new rates, and how the income from these loans is distributed. 3. Prime Mortgage PSA: This type of PSA is specific to pooling and servicing agreements for prime mortgage loans, which are issued to borrowers with strong credit profiles. The PSA would detail the criteria for qualifying as a "prime" loan, the quality control measures, and how the loans are serviced. 4. Subprime Mortgage PSA: Unlike prime mortgages, subprime mortgage loans involve higher credit risks. The PSA concerning subprime mortgages would outline the specific criteria for these loans, the risk mitigation strategies, and the adjusting interest rates, amongst other relevant factors. 5. Jumbo Mortgage PSA: Jumbo mortgages are loans that exceed the conforming loan limits set by government-sponsored enterprises. A PSA focused on jumbo mortgages would pertain to the pooling and servicing of such loans, including details on the loan amounts, interest rates, and distribution of cash flows. These are some examples of the potential types of Mississippi Pooling and Servicing Agreements between Green point Credit, LLC and Bank One, National Association. It is important to note that the specific terms and conditions within each agreement may vary depending on the goals and strategies of the entities involved and the characteristics of the mortgage loans being securitized.
Mississippi Pooling and Servicing Agreement between Greenpoint Credit, LLC and Bank One, National Association
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What is a Loan Servicing Agreement? A loan servicing agreement is a legal agreement between a lender and a third party, the servicer, that outlines the terms and conditions for which that third party will provide loan servicing services.
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.
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
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...
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