A New Hampshire Pooling and Servicing Agreement (PSA) is a legal document that outlines the terms and conditions of the securitization of mortgage loans by Green point Credit, LLC and Bank One, National Association. This agreement establishes the guidelines for pooling the mortgage loans into a mortgage-backed security (MBS) and the servicing of the loans once they are securitized. The main purpose of the New Hampshire PSA is to define the roles, responsibilities, and rights of both the issuer (Green point Credit, LLC) and the service (Bank One, National Association). It sets forth the procedures for the transfer and delivery of the mortgage loans to the trustee responsible for managing the MBS. Some important keywords relevant to the New Hampshire PSA between Green point Credit, LLC and Bank One, National Association include: 1. Pooling: This refers to the process of combining multiple mortgage loans into a single pool that backs the MBS. 2. Servicing: It involves managing the day-to-day administration of the mortgage loans such as collecting payments, handling delinquencies, and disbursing funds to investors. 3. Securitization: The process of transforming illiquid assets (mortgage loans) into marketable securities (MBS) that can be traded. 4. Trustee: A designated entity responsible for overseeing the operations of the MBS and ensuring compliance with the terms of the PSA. 5. Mortgage-backed security (MBS): A financial instrument backed by a pool of mortgage loans, where investors receive periodic payments based on the principal and interest payments made by the borrowers. Different types of New Hampshire Pooling and Servicing Agreements between Green point Credit, LLC and Bank One, National Association may be distinguished based on specific characteristics, such as the types of mortgage loans included in the pool (e.g., fixed-rate, adjustable-rate), maturity dates, interest rates, or geographical location. These variations tailor the agreement to address the specific needs and risk considerations of the parties involved. It is important to consult the specific New Hampshire Pooling and Servicing Agreement executed between Green point Credit, LLC and Bank One, National Association for a detailed understanding of its provisions and variations from the standard terms.
New Hampshire Pooling and Servicing Agreement between Greenpoint Credit, LLC and Bank One, National Association
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Company overview shut down GreenPoint in the third quarter of 2007. History: Originally a community bank in Brooklyn, New York, GreenPoint Savings Bank was first chartered in 1868.
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...
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
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
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...