Montana Pooling and Servicing Agreement (PSA) is a legal contract entered into between Green point Credit, LLC and Bank One, National Association. This agreement outlines the terms and conditions governing the pooling and servicing of mortgage loans by Green point Credit, LLC and the role played by Bank One, National Association as the trustee. The Montana PSA focuses on the securitization of mortgages and the establishment of a mortgage pool by Green point Credit, LLC. This pooling allows the loans to be sold as mortgage-backed securities to investors in the financial market. Bank One, National Association acts as the trustee, responsible for overseeing the proper administration and distribution of cash flows generated by the mortgage pool to the investors. The agreement sets out various provisions such as loan eligibility criteria, allocation of principal and interest payments, servicing responsibilities, and reporting requirements. It safeguards the interests of both parties and provides a framework for the efficient management of the mortgage pool. There may be different types of Montana PSA agreements between Green point Credit, LLC and Bank One, National Association, which could include variations based on the specific mortgage loans being pooled, the duration of the agreement, and other customized terms to suit specific investor requirements. These different types may be referred to as "Series" or "Classes" within the PSA. Each series or class might have its unique characteristics regarding payment priority, allocation of losses, or credit enhancement provisions. Green point Credit, LLC and Bank One, National Association understand the importance of complying with federal and state regulations, including the Securities and Exchange Commission (SEC) rules, the Dodd-Frank Wall Street Reform and Consumer Protection Act, and the Montana state-specific laws, to ensure the transparency and legality of the securitization process. In summary, the Montana Pooling and Servicing Agreement serves as a crucial legal document that establishes the terms and conditions for the pooling and servicing of mortgage loans by Green point Credit, LLC. Bank One, National Association acts as the trustee, ensuring the smooth administration and distribution of cash flows to investors. Different types or series of agreements may exist to accommodate specific investor requirements. Compliance with relevant regulations is a key priority for both parties involved.
Montana Pooling and Servicing Agreement between Greenpoint Credit, LLC and Bank One, National Association
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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
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.
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...
Status: CLOSED. shut down GreenPoint in the third quarter of 2007.
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...
North Fork Bancorp acquired GreenPoint Financial in October 2004 for $6.3 billion in stock. Parent/subsidiary companies: bought GreenPoint parent company North Fork Bancorp on December 1, 2006. Status: CLOSED.
North Fork Bancorp acquired GreenPoint Financial in October 2004 for $6.3 billion in stock. In December 2006, purchased North Fork. shut down GreenPoint by the third quarter of 2007 at an after-tax loss of $1 billion.
Acquired GreenPoint and its Melville, New York, headquarters for $14.6 billion U.S. dollars. It was only the second bank bought by , and was the larger of two acquisitions comprising 's 2005-06 expansion into retail banking.
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