Nebraska Pooling and Servicing Agreement between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A. and Bank One

• Category: Corporations - Public - Pooling and Servicing
• State: Multi-State
• Control #: US-EG-9080
• Format: Word; Rich Text

Description

Pooling and Servicing Agr. btwn Credit Suisse First Boston Mortgage Securities Corp., Wash. Mutual Bank F.A. and Bank One - National Association dated Nov. 1, 1999. 213 pages A Nebraska Pooling and Servicing Agreement is a legal contract between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One that outlines the terms and conditions related to the pooling and servicing of mortgage loans. It is primarily utilized in the mortgage-backed securities market. The agreement establishes the roles and responsibilities of each party involved in the process. Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One are typically categorized as the "parties" or "participating institutions." Key elements of the Nebraska Pooling and Servicing Agreement include: 1. Pooling: The agreement outlines the process of pooling mortgage loans, which essentially involves combining multiple loans into a single package. By pooling the loans, Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One can create mortgage-backed securities for sale to investors. 2. Servicing: The agreement also addresses the servicing aspect of the mortgage loans. This refers to the ongoing administration and management of the loans, including payment collection and distribution, customer support, loan modifications, and foreclosure procedures, if necessary. 3. Cash Flow: The agreement details how the cash flows generated from the pooled loans will be handled. It defines the priority of payments, such as interest payments and principal repayments to investors, as well as any fees or expenses associated with servicing the loans. 4. Representations and Warranties: The agreement will contain representations and warranties made by the parties regarding the quality and legitimacy of the pooled mortgage loans. This ensures that the loans comply with certain standards and are suitable for securitization. 5. Termination Provisions: The agreement specifies the circumstances under which the agreement can be terminated, such as a breach by one of the parties or the occurrence of certain events, and the consequences of termination. It is worth noting that there may be variations or different types of Nebraska Pooling and Servicing Agreements between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One, depending on the specific transaction or arrangement. Each agreement may be tailored to address the unique requirements and preferences of the parties involved.

A Nebraska Pooling and Servicing Agreement is a legal contract between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One that outlines the terms and conditions related to the pooling and servicing of mortgage loans. It is primarily utilized in the mortgage-backed securities market. The agreement establishes the roles and responsibilities of each party involved in the process. Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One are typically categorized as the "parties" or "participating institutions." Key elements of the Nebraska Pooling and Servicing Agreement include: 1. Pooling: The agreement outlines the process of pooling mortgage loans, which essentially involves combining multiple loans into a single package. By pooling the loans, Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One can create mortgage-backed securities for sale to investors. 2. Servicing: The agreement also addresses the servicing aspect of the mortgage loans. This refers to the ongoing administration and management of the loans, including payment collection and distribution, customer support, loan modifications, and foreclosure procedures, if necessary. 3. Cash Flow: The agreement details how the cash flows generated from the pooled loans will be handled. It defines the priority of payments, such as interest payments and principal repayments to investors, as well as any fees or expenses associated with servicing the loans. 4. Representations and Warranties: The agreement will contain representations and warranties made by the parties regarding the quality and legitimacy of the pooled mortgage loans. This ensures that the loans comply with certain standards and are suitable for securitization. 5. Termination Provisions: The agreement specifies the circumstances under which the agreement can be terminated, such as a breach by one of the parties or the occurrence of certain events, and the consequences of termination. It is worth noting that there may be variations or different types of Nebraska Pooling and Servicing Agreements between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One, depending on the specific transaction or arrangement. Each agreement may be tailored to address the unique requirements and preferences of the parties involved.