Los Angeles California Pooling and Servicing Agreement is a legally binding contract between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. This agreement outlines the terms and conditions related to pooling and servicing of mortgage loans in the Los Angeles area. The Los Angeles California Pooling and Servicing Agreement provides a framework for the pooling of mortgage loans originated by IMPACT Secured Assets Corp. and iMac Funding Corp. These mortgage loans are then sold to investors in the form of mortgage-backed securities. Northwest Bank Minnesota, National Assoc. Plays a crucial role as the trustee and custodian of the mortgage loans and securities. The agreement includes provisions related to the allocation and distribution of cash flows from the mortgage loans to the investors, as well as the responsibilities and obligations of the involved parties. It sets forth clear guidelines for the servicing of the mortgage loans, including loan modifications, defaults, and foreclosure proceedings. Furthermore, the Los Angeles California Pooling and Servicing Agreement may include different types or variations depending on the specific nature of the mortgage loans being securitized. These variations may include differences in loan types, borrower credit profiles, or property locations, among other factors. Each type of agreement will have its unique set of terms and conditions tailored to meet the specific requirements of the transaction. In conclusion, the Los Angeles California Pooling and Servicing Agreement between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. Is a comprehensive and detailed contract that governs the pooling and servicing of mortgage loans in the Los Angeles area. Its purpose is to protect the rights and interests of all parties involved while ensuring a smooth and efficient process for investors and borrowers alike.
Los Angeles California Pooling and Servicing Agreement between IMPAC Secured Assets Corp., IMAC Funding Corp. and Northwest Bank Minnesota, National Assoc.
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