Rhode Island 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 Rhode Island Pooling and Servicing Agreement is a legal document that governs the terms and conditions of mortgage-backed securities issued by New Century Mortgage Securities, Inc. It outlines the rights and responsibilities of various parties involved in the securitization process, such as the issuer, service, trust, and investors. This agreement plays a crucial role in ensuring the smooth functioning of the mortgage-backed securities market. Here are some relevant keywords associated with Rhode Island Pooling and Servicing Agreement of New Century Mortgage Securities, Inc.: 1. Mortgage-backed securities: These are financial instruments that represent an interest in a pool of mortgages. Investors buy these securities, which provide them with the cash flows from the underlying mortgage loans. 2. Securitization: It is the process of converting illiquid assets, such as mortgages, into tradable securities. The Rhode Island Pooling and Servicing Agreement establishes the framework for this process. 3. Issuer: The entity responsible for creating and issuing the mortgage-backed securities. In this case, New Century Mortgage Securities, Inc. acts as the issuer. 4. Service: The party that collects mortgage payments from borrowers and manages the day-to-day administration of the loans. They are responsible for disbursing the collected funds to the investors as per the terms outlined in the agreement. 5. Trust: A legal entity that holds the securitized assets on behalf of the investors. The trust ensures that the cash flows from the underlying mortgages are distributed to the investors in accordance with the agreement. The Rhode Island Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. may have different types or series, depending on the specific mortgage-backed securities issued. These series may be differentiated by factors like mortgage originator, interest rate, maturity, or risk profile. However, the specific types or series of this agreement would require further information or details from the issuer's documentation to accurately identify them.

Rhode Island Pooling and Servicing Agreement is a legal document that governs the terms and conditions of mortgage-backed securities issued by New Century Mortgage Securities, Inc. It outlines the rights and responsibilities of various parties involved in the securitization process, such as the issuer, service, trust, and investors. This agreement plays a crucial role in ensuring the smooth functioning of the mortgage-backed securities market. Here are some relevant keywords associated with Rhode Island Pooling and Servicing Agreement of New Century Mortgage Securities, Inc.: 1. Mortgage-backed securities: These are financial instruments that represent an interest in a pool of mortgages. Investors buy these securities, which provide them with the cash flows from the underlying mortgage loans. 2. Securitization: It is the process of converting illiquid assets, such as mortgages, into tradable securities. The Rhode Island Pooling and Servicing Agreement establishes the framework for this process. 3. Issuer: The entity responsible for creating and issuing the mortgage-backed securities. In this case, New Century Mortgage Securities, Inc. acts as the issuer. 4. Service: The party that collects mortgage payments from borrowers and manages the day-to-day administration of the loans. They are responsible for disbursing the collected funds to the investors as per the terms outlined in the agreement. 5. Trust: A legal entity that holds the securitized assets on behalf of the investors. The trust ensures that the cash flows from the underlying mortgages are distributed to the investors in accordance with the agreement. The Rhode Island Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. may have different types or series, depending on the specific mortgage-backed securities issued. These series may be differentiated by factors like mortgage originator, interest rate, maturity, or risk profile. However, the specific types or series of this agreement would require further information or details from the issuer's documentation to accurately identify them.