A Chicago Illinois Pooling and Servicing Agreement is a legal contract between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc., that outlines the terms and conditions of a pooled investment or mortgage-backed security transaction. This agreement enables the securitization of loans and the creation of mortgage-backed securities, providing a mechanism for investors to invest in a diversified pool of mortgage assets. Keywords: Chicago Illinois Pooling and Servicing Agreement, IMPACT Secured Assets Corp., iMac Funding Corp., Northwest Bank Minnesota, National Assoc., mortgage-backed securities, securitization, loans, investors, diversified pool, terms and conditions. Types of Chicago Illinois Pooling and Servicing Agreements between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc., can include: 1. Residential Mortgage-Backed Securities (RMBS) Agreement: This type of agreement pertains to the securitization of residential mortgage loans. It outlines the rules, responsibilities, and payment structures for the underlying mortgage loans, including the allocation of principal and interest payments to investors. 2. Commercial Mortgage-Backed Securities (CMOS) Agreement: This agreement focuses on securitizing commercial mortgage loans, such as those for office buildings, retail spaces, or industrial properties. It defines the terms and conditions specific to commercial real estate loans, including rental income, property valuation, and loan repayment terms. 3. Collateralized Debt Obligation (CDO) Agreement: A CDO Pooling and Servicing Agreement involves the securitization of a diverse range of debt obligations, including residential and commercial mortgage loans, corporate bonds, and other debt instruments. It outlines the structure and allocation of cash flows from the collateral to the investors, depending on the priority in the repayment waterfall. 4. Asset-Backed Securities (ABS) Agreement: This type of agreement focuses on securitizing various types of assets such as auto loans, credit card receivables, student loans, or other financial assets. It specifies the conditions and requirements for assembling, servicing, and managing the underlying assets, ensuring compliance with regulatory standards. These different types of Chicago Illinois Pooling and Servicing Agreements provide flexibility to tailor the terms and conditions according to the specific characteristics of the underlying assets, investor preferences, and market conditions. They enable efficient capital allocation, risk diversification, and liquidity for both investors and financial institutions involved in the securitization process.
Chicago Illinois Pooling and Servicing Agreement between IMPAC Secured Assets Corp., IMAC Funding Corp. and Northwest Bank Minnesota, National Assoc.
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