The Broward Florida Pooling and Servicing Agreement is a legal document that outlines the terms and conditions for pooling and servicing mortgage loans between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. This agreement is designed to facilitate the pooling of mortgage loans from these entities and the subsequent sale of securities backed by these loans. The Broward Florida Pooling and Servicing Agreement serves as the governing document for the securitization process, ensuring compliance with the applicable laws and regulations. It defines the responsibilities of each party involved, including the loan service (IMPACT Secured Assets Corp.), the depositor (iMac Funding Corp.), and the trustee (Northwest Bank Minnesota, National Assoc.). This agreement also sets forth the terms and conditions related to the servicing of the pooled mortgage loans. It outlines the responsibilities of the loan service, including the collection of monthly payments, escrow administration, loan modifications, and other borrower-related activities. Additionally, the agreement highlights the rights and obligations of the certificate holders, which are individuals or entities who purchase securities backed by the pooled mortgage loans. There may be different types of Broward Florida Pooling and Servicing Agreements between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc., depending on various factors such as the type of mortgage loans being pooled, the specific pool composition, or the term of the securitization. These variations may include agreements specific to residential mortgage loans, commercial mortgage loans, or government-backed loans, among others. The goal of the Broward Florida Pooling and Servicing Agreement is to establish a transparent and efficient process for pooling mortgage loans, ensuring the smooth functioning of the securitization market. By clarifying the rights, responsibilities, and obligations of all parties involved, this agreement helps to create a secure and reliable investment opportunity for certificate holders while promoting liquidity in the mortgage market.
Broward Florida Pooling and Servicing Agreement between IMPAC Secured Assets Corp., IMAC Funding Corp. and Northwest Bank Minnesota, National Assoc.
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