The Allegheny Pennsylvania Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. is a legal document that outlines the terms and conditions of pooling and servicing mortgage loans in Allegheny County, Pennsylvania. This agreement is specific to New Century Mortgage Securities, Inc., a mortgage-backed securities issuer. The pooling and servicing agreement is a crucial document that governs how the mortgage loans are pooled together to create mortgage-backed securities (MBS) and how they are serviced by the issuer. It establishes the rights and responsibilities of the parties involved, including the issuer, the service, the trustee, and the investors. The agreement typically covers various aspects related to mortgage loans, such as loan eligibility criteria, loan origination procedures, loan servicing requirements, cash flow distributions, and default provisions. It ensures that the mortgage loans are managed and administered in compliance with applicable laws and regulations. Different types or variations of the Allegheny Pennsylvania Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. may exist based on the specific pool of mortgage loans involved. This could include variations in loan types, loan amounts, geographical locations, or other specific characteristics that distinguish one pool from another. New Century Mortgage Securities, Inc. may create multiple pooling and servicing agreements for different securitization transactions, each with its own unique set of terms and conditions. These agreements might be identified by their issuance dates, series numbers, or other designations to differentiate between them. In summary, the Allegheny Pennsylvania Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. is a legal document that governs the pooling, servicing, and administration of mortgage loans in Allegheny County. It ensures compliance with the laws and regulations, while outlining the rights and responsibilities of all parties involved. Different variations of this agreement may exist based on the characteristics of the mortgage loan pools involved.
Allegheny Pennsylvania Pooling and Servicing Agreement of New Century Mortgage Securities, Inc.
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