Allegheny Pennsylvania Pooling and Servicing Agreement between IMPAC Secured Assets Corp., IMAC Funding Corp. and Northwest Bank Minnesota, National Assoc.

• Category: Corporations - Public - Pooling and Servicing
• State: Multi-State
• County: Allegheny
• Control #: US-EG-9042
• Format: Word; Rich Text

Description

Pooling and Servicing Agr. btwn IMPAC Secured Assets Corporation, IMAC Funding Corporation and Northwest Bank Minnesota, National Association dated Dec. 1, 1999. 142 pages The Allegheny Pennsylvania Pooling and Servicing Agreement is a legal document that governs the pooling and servicing of mortgage loans between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. This agreement outlines the rights and responsibilities of the parties involved in the mortgage loan securitization process. Under this agreement, IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. Join forces to pool a group of mortgage loans into a trust. These loans are typically originated by Northwest Bank Minnesota, National Assoc. And then sold to IMPACT Secured Assets Corp. or iMac Funding Corp. Once pooled, the mortgage loans are then securitized and sold to investors in the form of mortgage-backed securities. The Allegheny Pennsylvania Pooling and Servicing Agreement includes various provisions related to the servicing of the mortgage loans. This includes collecting and distributing borrowers' monthly mortgage payments, managing escrow accounts for taxes and insurance, handling delinquencies and defaults, and foreclosing on properties if necessary. The agreement also outlines the procedures for modificationssubordinationns, and other loan-level actions. It is important to note that the Allegheny Pennsylvania Pooling and Servicing Agreement may have different types or series, depending on the specific mortgage loans included in each pool. Each series may have its own unique characteristics, such as varying interest rates, loan balances, or maturity dates. These series are typically differentiated by a series number or designation, which helps to identify the specific pool of mortgage loans associated with that particular agreement. In conclusion, the Allegheny Pennsylvania Pooling and Servicing Agreement between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. Establishes the framework for the securitization and servicing of mortgage loans. It ensures that all parties involved understand their rights and responsibilities in this process and helps facilitate the smooth management of the mortgage-backed securities.

The Allegheny Pennsylvania Pooling and Servicing Agreement is a legal document that governs the pooling and servicing of mortgage loans between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. This agreement outlines the rights and responsibilities of the parties involved in the mortgage loan securitization process. Under this agreement, IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. Join forces to pool a group of mortgage loans into a trust. These loans are typically originated by Northwest Bank Minnesota, National Assoc. And then sold to IMPACT Secured Assets Corp. or iMac Funding Corp. Once pooled, the mortgage loans are then securitized and sold to investors in the form of mortgage-backed securities. The Allegheny Pennsylvania Pooling and Servicing Agreement includes various provisions related to the servicing of the mortgage loans. This includes collecting and distributing borrowers' monthly mortgage payments, managing escrow accounts for taxes and insurance, handling delinquencies and defaults, and foreclosing on properties if necessary. The agreement also outlines the procedures for modificationssubordinationns, and other loan-level actions. It is important to note that the Allegheny Pennsylvania Pooling and Servicing Agreement may have different types or series, depending on the specific mortgage loans included in each pool. Each series may have its own unique characteristics, such as varying interest rates, loan balances, or maturity dates. These series are typically differentiated by a series number or designation, which helps to identify the specific pool of mortgage loans associated with that particular agreement. In conclusion, the Allegheny Pennsylvania Pooling and Servicing Agreement between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. Establishes the framework for the securitization and servicing of mortgage loans. It ensures that all parties involved understand their rights and responsibilities in this process and helps facilitate the smooth management of the mortgage-backed securities.