Ohio Pooling and Servicing Agreement between IMPAC Secured Assets Corp., IMAC Funding Corp. and Northwest Bank Minnesota, National Assoc.

• Category: Corporations - Public - Pooling and Servicing
• State: Multi-State
• Control #: US-EG-9042
• Format: Word; Rich Text

Description

Pooling and Servicing Agr. btwn IMPAC Secured Assets Corporation, IMAC Funding Corporation and Northwest Bank Minnesota, National Association dated Dec. 1, 1999. 142 pages Ohio Pooling and servicing Agreement is a legal contract between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc., that governs the pooling and servicing of mortgage loans. This agreement outlines the rights, responsibilities, and obligations of all parties involved in the process. Keywords: Ohio Pooling and Servicing Agreement, IMPACT Secured Assets Corp., iMac Funding Corp., Northwest Bank Minnesota, National Assoc. There are several types of Ohio Pooling and Servicing Agreements between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc., depending on the specific terms and conditions agreed upon. Some common variations include: 1. Standard Ohio Pooling and Servicing Agreement: This type of agreement establishes the basic framework for the pooling and servicing of mortgage loans in Ohio. It covers essential aspects such as payment remittance, transaction procedures, loan modifications, and foreclosure proceedings. 2. Sub-servicing Ohio Pooling and Servicing Agreement: In this agreement, Northwest Bank Minnesota, National Assoc. Acts as a sub-series on behalf of IMPACT Secured Assets Corp. and iMac Funding Corp. Under this arrangement, the sub-series is responsible for performing certain loan servicing duties such as collecting payments, managing escrow accounts, and handling borrower inquiries. 3. Special Servicing Ohio Pooling and Servicing Agreement: This type of agreement comes into play when a mortgage loan becomes delinquent or faces financial distress. The special service, which could be Northwest Bank Minnesota, National Assoc., takes over the loan to implement loan workout strategies, negotiate modifications, or initiate foreclosure proceedings if necessary. 4. Master Ohio Pooling and Servicing Agreement: This comprehensive agreement encompasses a broader scope, typically involving multiple parties, loan types, and geographic regions. It serves as an overarching framework for various individual agreements and provides guidelines for the pool composition, servicing transfers, and other related matters. In conclusion, the Ohio Pooling and Servicing Agreement between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. Is a significant legal document that governs the pooling and servicing of mortgage loans in Ohio. The agreement type may vary depending on the specific terms and roles assigned to each party involved.

Ohio Pooling and servicing Agreement is a legal contract between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc., that governs the pooling and servicing of mortgage loans. This agreement outlines the rights, responsibilities, and obligations of all parties involved in the process. Keywords: Ohio Pooling and Servicing Agreement, IMPACT Secured Assets Corp., iMac Funding Corp., Northwest Bank Minnesota, National Assoc. There are several types of Ohio Pooling and Servicing Agreements between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc., depending on the specific terms and conditions agreed upon. Some common variations include: 1. Standard Ohio Pooling and Servicing Agreement: This type of agreement establishes the basic framework for the pooling and servicing of mortgage loans in Ohio. It covers essential aspects such as payment remittance, transaction procedures, loan modifications, and foreclosure proceedings. 2. Sub-servicing Ohio Pooling and Servicing Agreement: In this agreement, Northwest Bank Minnesota, National Assoc. Acts as a sub-series on behalf of IMPACT Secured Assets Corp. and iMac Funding Corp. Under this arrangement, the sub-series is responsible for performing certain loan servicing duties such as collecting payments, managing escrow accounts, and handling borrower inquiries. 3. Special Servicing Ohio Pooling and Servicing Agreement: This type of agreement comes into play when a mortgage loan becomes delinquent or faces financial distress. The special service, which could be Northwest Bank Minnesota, National Assoc., takes over the loan to implement loan workout strategies, negotiate modifications, or initiate foreclosure proceedings if necessary. 4. Master Ohio Pooling and Servicing Agreement: This comprehensive agreement encompasses a broader scope, typically involving multiple parties, loan types, and geographic regions. It serves as an overarching framework for various individual agreements and provides guidelines for the pool composition, servicing transfers, and other related matters. In conclusion, the Ohio Pooling and Servicing Agreement between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. Is a significant legal document that governs the pooling and servicing of mortgage loans in Ohio. The agreement type may vary depending on the specific terms and roles assigned to each party involved.