Oregon Pooling and Servicing Agreement contemplating the sale of mortgage loans to Trustee for inclusion in the Trust Fund by the company

• Category: Real Estate - Mortgages and Deeds of Trust
• State: Multi-State
• Control #: US-EG-9219
• Format: Word; Rich Text

Description

Pooling and Servicing Agreement between MLCC Mortgage Investors, Inc., Merrill Lynch Credit Corporation and Bankers Trust Company of California, NA contemplating the sale of mortgage loans to Trustee for inclusion in the Trust Fund by the company dated The Oregon Pooling and Servicing Agreement is a legal document that outlines the terms and conditions for the sale of mortgage loans by a company to a Trustee, who will then include these loans in a Trust Fund. This agreement serves as a framework for the relationship between the company and the Trustee, ensuring the proper management and servicing of the mortgage loans within the trust. The Oregon Pooling and Servicing Agreement involves several key components. Firstly, it includes a detailed description of the mortgage loans being sold, including their characteristics, terms, and conditions. This information ensures transparency and clarity in the transaction. The agreement also encompasses the responsibilities of the company and the Trustee. It outlines the obligations of the company in terms of providing accurate and complete information about the mortgage loans, maintaining proper documentation, and delivering the loans to the Trustee. On the other hand, the Trustee is responsible for managing the Trust Fund, collecting mortgage payments from borrowers, and distributing the cash flows to the investors. Furthermore, the agreement discusses various provisions related to the servicing of the mortgage loans. This includes guidelines for the calculation and distribution of interest, the handling of escrow accounts, the resolution of borrower defaults or delinquencies, and the foreclosure process if necessary. These provisions ensure that the mortgage loans are serviced and managed appropriately throughout their lifespan. Additionally, the Oregon Pooling and Servicing Agreement may include provisions regarding the termination or amendment of the agreement, the allocation of expenses related to the trust administration, and the rights and remedies available to both the company and the Trustee in case of a breach of contract. It's important to note that Oregon Pooling and Servicing Agreements can vary depending on the specific needs and requirements of the parties involved. There may be different types or variations of the agreement, such as variations for different types of mortgage loans (e.g., fixed-rate or adjustable-rate mortgages) or different types of Trust Funds (e.g., residential or commercial mortgage-backed securities). However, without specific information, it's challenging to mention the exact names of these different types of agreements.

The Oregon Pooling and Servicing Agreement is a legal document that outlines the terms and conditions for the sale of mortgage loans by a company to a Trustee, who will then include these loans in a Trust Fund. This agreement serves as a framework for the relationship between the company and the Trustee, ensuring the proper management and servicing of the mortgage loans within the trust. The Oregon Pooling and Servicing Agreement involves several key components. Firstly, it includes a detailed description of the mortgage loans being sold, including their characteristics, terms, and conditions. This information ensures transparency and clarity in the transaction. The agreement also encompasses the responsibilities of the company and the Trustee. It outlines the obligations of the company in terms of providing accurate and complete information about the mortgage loans, maintaining proper documentation, and delivering the loans to the Trustee. On the other hand, the Trustee is responsible for managing the Trust Fund, collecting mortgage payments from borrowers, and distributing the cash flows to the investors. Furthermore, the agreement discusses various provisions related to the servicing of the mortgage loans. This includes guidelines for the calculation and distribution of interest, the handling of escrow accounts, the resolution of borrower defaults or delinquencies, and the foreclosure process if necessary. These provisions ensure that the mortgage loans are serviced and managed appropriately throughout their lifespan. Additionally, the Oregon Pooling and Servicing Agreement may include provisions regarding the termination or amendment of the agreement, the allocation of expenses related to the trust administration, and the rights and remedies available to both the company and the Trustee in case of a breach of contract. It's important to note that Oregon Pooling and Servicing Agreements can vary depending on the specific needs and requirements of the parties involved. There may be different types or variations of the agreement, such as variations for different types of mortgage loans (e.g., fixed-rate or adjustable-rate mortgages) or different types of Trust Funds (e.g., residential or commercial mortgage-backed securities). However, without specific information, it's challenging to mention the exact names of these different types of agreements.