New Mexico Pooling and Servicing Agreement of New Century Mortgage Securities, Inc.

• Category: Corporations - Public - Pooling and Servicing
• State: Multi-State
• Control #: US-EG-9046
• Format: Word; Rich Text

Description

Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. dated 00/00. 166 pages The New Mexico Pooling and Servicing Agreement (PSA) of New Century Mortgage Securities, Inc. is a legal document that outlines the terms and conditions of pooled mortgage loans. These mortgage loans are securitized and sold to investors in the form of mortgage-backed securities (MBS). Below, we will provide a detailed description of the New Mexico Pooling and Servicing Agreement, its purpose, and potential types of this agreement. The New Mexico Pooling and Servicing Agreement serves as a contractual agreement between New Century Mortgage Securities, Inc. (the issuer/sponsor) and the holders/investors of the MBS. It establishes the rights, obligations, and responsibilities of each party involved in the securitization process. This agreement specifies the criteria for selecting and pooling mortgage loans, which are then transferred to a trust. The trust then issues MBS to investors who hold an ownership interest in the pool of mortgage loans. The terms and conditions of the MBS, including payment schedules, interest rates, and prepayment provisions, are governed by the PSA. Additionally, the New Mexico PSA defines the roles and responsibilities of the service, who acts as an intermediary between the issuer and the borrowers. The service is responsible for collecting mortgage loan payments, managing escrow accounts, and maintaining communication with borrowers. In the context of New Century Mortgage Securities, Inc., different types or series of the New Mexico Pooling and Servicing Agreement may exist, each governing a separate pool of mortgage loans. These series or types may be distinguished by different characteristics, such as loan types, geographic regions, credit ratings, or other specific criteria set by the issuer. It is important to note that the New Mexico PSA is based on state-specific laws and regulations, which may vary from other pooling and servicing agreements governed by different states or jurisdictions. These agreements are essential in ensuring transparency, standardization, and legal compliance in the mortgage-backed securities market. In summary, the New Mexico Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. is a legally binding document that establishes the terms and conditions for securitizing mortgage loans into mortgage-backed securities. It outlines the duties of the issuer, the rights of investors, and the responsibilities of the service. Different types or series of this agreement may exist, depending on the characteristics of the mortgage loans pooled.

The New Mexico Pooling and Servicing Agreement (PSA) of New Century Mortgage Securities, Inc. is a legal document that outlines the terms and conditions of pooled mortgage loans. These mortgage loans are securitized and sold to investors in the form of mortgage-backed securities (MBS). Below, we will provide a detailed description of the New Mexico Pooling and Servicing Agreement, its purpose, and potential types of this agreement. The New Mexico Pooling and Servicing Agreement serves as a contractual agreement between New Century Mortgage Securities, Inc. (the issuer/sponsor) and the holders/investors of the MBS. It establishes the rights, obligations, and responsibilities of each party involved in the securitization process. This agreement specifies the criteria for selecting and pooling mortgage loans, which are then transferred to a trust. The trust then issues MBS to investors who hold an ownership interest in the pool of mortgage loans. The terms and conditions of the MBS, including payment schedules, interest rates, and prepayment provisions, are governed by the PSA. Additionally, the New Mexico PSA defines the roles and responsibilities of the service, who acts as an intermediary between the issuer and the borrowers. The service is responsible for collecting mortgage loan payments, managing escrow accounts, and maintaining communication with borrowers. In the context of New Century Mortgage Securities, Inc., different types or series of the New Mexico Pooling and Servicing Agreement may exist, each governing a separate pool of mortgage loans. These series or types may be distinguished by different characteristics, such as loan types, geographic regions, credit ratings, or other specific criteria set by the issuer. It is important to note that the New Mexico PSA is based on state-specific laws and regulations, which may vary from other pooling and servicing agreements governed by different states or jurisdictions. These agreements are essential in ensuring transparency, standardization, and legal compliance in the mortgage-backed securities market. In summary, the New Mexico Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. is a legally binding document that establishes the terms and conditions for securitizing mortgage loans into mortgage-backed securities. It outlines the duties of the issuer, the rights of investors, and the responsibilities of the service. Different types or series of this agreement may exist, depending on the characteristics of the mortgage loans pooled.