Utah Trust Agreement of Ameriquest Mortgage Securities, Inc. is a legal document that establishes a trust for the issuance of mortgage-backed securities (MBS) by Ameriquest Mortgage Securities, Inc. The trust agreement ensures the proper functioning and administration of the mortgage-backed securities issued under the trust. Ameriquest Mortgage Securities, Inc. is a financial institution engaged in securitizing residential mortgage loans. As part of its securitization process, it creates trusts like the Utah Trust Agreement to facilitate the issuance of MBS. The purpose of these trusts is to pool many mortgage loans and convert them into tradable securities, providing investors with an opportunity to gain exposure to the residential mortgage market. The Utah Trust Agreement outlines the rights and obligations of the parties involved in the trust. It sets forth the terms under which the mortgage loans are transferred to the trust, the payment and distribution mechanisms for the MBS issued, and the rights and remedies of the investors. The agreement also includes provisions regarding the servicing of the mortgage loans, distribution of principal and interest, and the creation and release of liens on the underlying properties. There may be variations and different types of Utah Trust Agreements of Ameriquest Mortgage Securities, Inc., depending on the specific mortgage-backed security issuance and the characteristics of the underlying mortgage loans. Some of these variations include: 1. Utah Trust Agreement for Residential Mortgage-Backed Securities: This type of trust agreement is used when the underlying mortgage loans are exclusively residential properties such as single-family homes, townhouses, or condominiums. 2. Utah Trust Agreement for Commercial Mortgage-Backed Securities: In cases where the underlying loans are commercial properties such as office buildings, retail centers, or industrial complexes, a specialized trust agreement may be utilized. 3. Utah Trust Agreement for Non-Performing Mortgage-Backed Securities: This type of agreement is employed when the mortgage loans included in the trust have a higher likelihood of default. It may contain specific provisions for the special servicing and workout of non-performing loans. In summary, the Utah Trust Agreement of Ameriquest Mortgage Securities, Inc. is a critical legal document that creates a trust for the issuance of mortgage-backed securities. It ensures the proper administration and functioning of the trust, defines the rights and obligations of the parties involved, and may have variations depending on the type of mortgage-backed securities being issued.