The Texas Pooling and Servicing Agreement (PSA) of New Century Mortgage Securities, Inc. is a legal document that governs the pooling and servicing of mortgage loans for investors in Texas. It outlines the rights and responsibilities of the parties involved in the securitization process, such as New Century Mortgage Securities, Inc. as the issuer and service, the mortgage loan originators, and the investors who purchase the mortgage-backed securities. Keywords: Texas Pooling and Servicing Agreement, New Century Mortgage Securities, securitization, mortgage loans, investors, legal document, pooling, servicing, issuer, service, mortgage-backed securities, originators. There may be different variations of the Texas Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. based on individual mortgage-backed security offerings or specific investor requirements. Some potential variations include: 1. Residential Mortgage-Backed Securities (RMBS) PSA: This type of agreement may focus specifically on pooling and servicing residential mortgage loans in Texas. It outlines the criteria for inclusion of these loans in the securitization process, such as credit quality, loan-to-value ratios, and geographical restrictions. 2. Commercial Mortgage-Backed Securities (CMOS) PSA: In contrast to residential mortgage loans, this type of agreement governs the pooling and servicing of commercial mortgage loans in Texas. It may include provisions related to the evaluation of the underlying commercial properties, tenant lease agreements, and cash flow analysis. 3. Adjustable-Rate Mortgage (ARM) PSA: This variation of the agreement may deal with securitizing mortgage loans with adjustable interest rates in Texas. It could include specific provisions addressing interest rate adjustments, index calculations, and periodic rate change notifications. 4. Government-Sponsored Enterprise (GSE) PSA: When dealing with government-backed mortgage loans, such as those guaranteed by Fannie Mae or Freddie Mac, a specific variation of the Texas PSA may be developed to adhere to the requirements mandated by the respective GSE. These are just a few examples of potential variations in the Texas Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. Each variation typically serves a specific purpose and caters to the unique characteristics of the mortgage loans being securitized, the investors involved, and the regulatory environment they operate in.
Texas Pooling and Servicing Agreement of New Century Mortgage Securities, Inc.
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