The Wisconsin Pooling and Servicing Agreement (PSA) of Ameriquest Mortgage Securities, Inc. is a legally binding contract that governs the pooling and servicing of mortgage loans in the state of Wisconsin. This agreement outlines the rights and responsibilities of the parties involved, including the mortgage service, the trustee, and the investors. Ameriquest Mortgage Securities, Inc. is a financial institution specializing in mortgage-backed securities (MBS) and plays a crucial role in securitizing and selling mortgage loans originated by lenders. The Wisconsin PSA is specific to Ameriquest Mortgage Securities, Inc. and pertains to mortgage loans secured by properties located in the state of Wisconsin. Key components of the Wisconsin PSA may include: 1. Loan Pooling: The agreement outlines the process of pooling together a group of mortgage loans into a single entity, usually a trust. This allows for the creation of MBS that can be sold to investors. 2. Mortgage Servicing: The PSA defines the obligations of the mortgage service, which is the party responsible for collecting mortgage payments, managing escrow accounts, and handling any delinquencies or defaults. It typically includes provisions for the service's compensation and the establishment of reserve accounts. 3. Investor Rights: The PSA specifies the rights and protections afforded to the investors who purchase the MBS. This may include the right to receive principal and interest payments, access loan-level data, and participate in decision-making processes. 4. Trustee Duties: The trustee, appointed by Ameriquest Mortgage Securities, Inc., has the responsibility to oversee the administration of the trust and ensure compliance with the terms of the PSA. This involves safeguarding investor interests, enforcing loan-level representations and warranties, and taking appropriate actions in case of breach or default. 5. Reporting and Disclosure: The PSA establishes requirements for reporting and disclosure of loan-level and performance-related information to the investors. This ensures transparency and helps investors assess the performance and risks of the mortgage loans in the pool. It's important to note that while the Wisconsin Pooling and Servicing Agreement of Ameriquest Mortgage Securities, Inc. is specific to Wisconsin, there might be similar agreements for other states or even specific loan types within Wisconsin. These specialized agreements may have additional clauses or modifications to account for specific state regulations or loan characteristics. Overall, the Wisconsin PSA of Ameriquest Mortgage Securities, Inc. serves as a comprehensive framework for the securitization and management of mortgage loans in the state, promoting transparency and protecting the interests of all parties involved.
Wisconsin Pooling and Servicing Agreement of Ameriquest Mortgage Securities, Inc.
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The Pooling and Servicing Agreement can be a stand-alone document or it can be part of another paper, usually called the ?Prospectus.? If the securitization is public, these documents must be filed with the Securities and Exchange Commission (SEC), and will be available to the public at .sec.gov.
Lenders mortgage insurance (LMI), also known as private mortgage insurance (PMI) in the US, is a type of insurance payable to a lender or to a trustee for a pool of securities that may be required when taking out a mortgage loan.
Employer Identification No.) 1100 TOWN & COUNTRY ROAD, SUITE 1100 ORANGE, CALIFORNIA 92868 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (714) 541-9960 Item 5.
Mortgage Pool Insurance means one or more policies of insurance issued by a Qualified Insurer or Qualified Insurers insuring against loss resulting or arising from an event of default under any or all Mortgage Loans financed with the proceeds of a Series of Bonds resulting from the mortgagor's failure to make any ...
On September 1, 2007, Citigroup completed its acquisition of Argent Mortgage and AMC Mortgage Services, shutting down Ameriquest Mortgage.
FHA mortgage insurance includes both an upfront cost, paid as part of your closing costs, and a monthly cost, included in your monthly payment. If you don't have enough cash on hand to pay the upfront fee, you are allowed to roll the fee into your mortgage instead of paying it out of pocket.
PMI is arranged by the lender and provided by private insurance companies. It insures the lender against loss caused by borrowers failing to make loan payments. Make no mistake: If you fall behind on your mortgage payments, PMI does not protect you and you can still lose your home through foreclosure.
What Is a Mortgage Pool? A mortgage pool is a group of mortgages held in trust as collateral for the issuance of a mortgage-backed security. Some mortgage-backed securities issued by Fannie Mae, Freddie Mac, and Ginnie Mae are known as "pools" themselves. These are the simplest form of mortgage-backed security.