A New Jersey Pooling and Servicing Agreement (PSA) is a legal document that governs the creation and management of a mortgage-backed security (MBS) pooling and servicing arrangement. In this particular case, the agreement is between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One. The PSA outlines the rights and obligations of each party involved, establishing the framework for the pooling and servicing of mortgage loans. Key terms and concepts associated with New Jersey PSA include: 1. Mortgage-Backed Securities (MBS): MBS are financial instruments created by pooling many mortgage loans together, which are then sold as securities to investors. These securities are backed by the cash flows generated from the underlying mortgage loans. 2. Pooling: Pooling refers to the process of bringing together a portfolio of mortgage loans, often with similar characteristics, to provide diversification and minimize risk for investors. This diversification helps spread the risk across multiple loans and reduces the exposure to a single default. 3. Servicing: Servicing involves the day-to-day management of the mortgage loans within the pool. The service is responsible for collecting payments from borrowers, handling escrow accounts, managing delinquencies, and ensuring compliance with all applicable laws and regulations. 4. Credit Suisse First Boston Mortgage Securities Corp.: Credit Suisse First Boston Mortgage Securities Corp. (CFB) is a financial institution involved in securitizing mortgage loans and creating mortgage-backed securities. They are a party to this PSA, likely acting as an underwriter or sponsor. 5. Washington Mutual Bank F.A.: Washington Mutual Bank F.A. is a financial institution with expertise in mortgage lending. They may be a seller or seller-servicer of mortgage loans to CFB for inclusion in the MBS pool. 6. Bank One: Bank One is another financial institution involved in this PSA. Their role may include being a buyer of the MBS securities or a party to other aspects of the transaction. Different types of New Jersey Pooling and Servicing Agreements between these entities may exist, depending on various factors such as the specific mortgage loans being pooled, the duration of the agreement, and the rights and responsibilities of each party. These agreements may include variations in servicing fees, loan composition, interest rates, and other contractual terms. It's important to note that this description provides a general overview and should not be considered as comprehensive legal advice. The specific terms and provisions of each PSA can vary and should be reviewed in detail by legal professionals familiar with the specific agreement in question.