The San Antonio Texas Pooling and Servicing Agreement between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. Is a legal document that governs the pooling and servicing of mortgage loans in the context of asset-backed securities. This agreement outlines the roles and responsibilities of the involved parties, the terms and conditions of loan servicing, and the distribution of cash flows and losses. Keyword: San Antonio Texas Pooling and Servicing Agreement, IMPACT Secured Assets Corp., iMac Funding Corp., Northwest Bank Minnesota, National Assoc. This particular agreement can be further categorized into two main types, namely: 1. Residential Mortgage Backed Securities (RMBS) Pooling and Servicing Agreement: This type of agreement pertains to the pooling and servicing of residential mortgage loans, primarily for single-family homes in the San Antonio, Texas area. These loans are securitized into RMBS and sold to investors. The agreement outlines the specific terms for loan servicing, including collection and distribution of payments, default management, and investor reporting. Keywords: Residential Mortgage Backed Securities, single-family homes, loan servicing, securitization, collection and distribution of payments, default management, investor reporting. 2. Commercial Mortgage Backed Securities (CMOS) Pooling and Servicing Agreement: In contrast to RMBS, CMOS Pooling and Servicing Agreements govern the pooling and servicing of commercial mortgage loans. These loans are typically related to commercial properties such as office buildings, retail centers, and hotels located in San Antonio, Texas. The agreement specifies the terms for loan servicing, including debt collection, collateral management, and investor communications. Keywords: Commercial Mortgage Backed Securities, commercial properties, loan servicing, debt collection, collateral management, investor communications. It is crucial for all involved parties, including IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc., to carefully review and adhere to the provisions outlined in these Pooling and Servicing Agreements to ensure compliance with applicable laws and regulations, as well as to protect the interests of investors and borrowers within the San Antonio, Texas market.
San Antonio Texas Pooling and Servicing Agreement between IMPAC Secured Assets Corp., IMAC Funding Corp. and Northwest Bank Minnesota, National Assoc.
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