Montana Pooling and Servicing Agreement (PSA) of New Century Mortgage Securities, Inc. is a contractual agreement that governs the pooling of mortgage loans and the servicing of those loans in mortgage-backed securities (MBS). This financial instrument was specifically issued by New Century Mortgage Securities, Inc., and is designed to ensure the smooth operation and management of the mortgage loans included in the securities. The Montana PSA outlines the rights and obligations of various parties involved in the securitization process, such as the issuer, the service, the trustee, and the investors. It serves as a legal framework for the pooling and servicing of mortgage loans, establishing guidelines and procedures to be followed throughout the life of the MBS. Keywords: Montana Pooling and Servicing Agreement, New Century Mortgage Securities, Inc., mortgage-backed securities, securitization process, pooling of mortgage loans, servicing of loans, contractual agreement, trustee, investors, legal framework. Types of Montana Pooling and Servicing Agreement of New Century Mortgage Securities, Inc.: 1. Montana PSA for Residential Mortgage-Backed Securities (RMBS): This type of PSA pertains to mortgage loans that are tied to residential properties. It outlines specific rules and guidelines for the pooling and servicing of residential mortgage loans. 2. Montana PSA for Commercial Mortgage-Backed Securities (CMOS): This type of PSA focuses on commercial properties and the mortgage loans associated with them. It addresses the unique characteristics and considerations related to commercial real estate loans in the pooling and servicing process. 3. Montana PSA for Government-Backed Security (FNMA): This PSA specifically deals with mortgage loans that are backed by governmental entities such as the Government National Mortgage Association (FNMA). It encompasses the pooling and servicing guidelines for these types of loans. 4. Montana PSA for Non-Performing Loans (NPS): This type of PSA is tailored to address the pooling and servicing of non-performing mortgage loans, where borrowers have defaulted or are at risk of default. It outlines special provisions and procedures for managing and servicing these troubled loans.