The Nassau New York Pooling and Servicing Agreement between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. Is a legal agreement that establishes the terms and conditions for the pooling, servicing, and management of mortgage loans. The agreement outlines the roles and responsibilities of each party involved, ensuring effective coordination and compliance with regulations. It covers various aspects related to the mortgage loans, such as origination, funding, servicing, and payment collection. In this specific agreement, IMPACT Secured Assets Corp. acts as the mortgage loan seller and transfers the loans to iMac Funding Corp., who then pools and securitizes the loans. Northwest Bank Minnesota, National Assoc. Plays the role of the service, responsible for collecting payments, managing escrow accounts, and ensuring the loans are serviced appropriately. This pooling and servicing agreement helps facilitate the flow of funds and information between the parties involved and establishes guidelines for the management of the loan pool. It includes provisions related to the allocation of principal and interest payments, default and foreclosure procedures, modification and refinancing guidelines, and reporting requirements. By adhering to this agreement, the involved parties can efficiently manage the mortgage loan portfolio, reduce risk exposure, and comply with regulatory requirements. It provides a framework for overseeing the entire lifecycle of the loans, from origination to payment collection and potential default resolution. While there may be variations or different types of Nassau New York Pooling and Servicing Agreements between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc., these would typically depend on specific features, loan types, or investor preferences.
Nassau New York Pooling and Servicing Agreement between IMPAC Secured Assets Corp., IMAC Funding Corp. and Northwest Bank Minnesota, National Assoc.
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