Oakland Michigan Pooling and Servicing Agreement of New Century Mortgage Securities, Inc.

• Category: Corporations - Public - Pooling and Servicing
• State: Multi-State
• County: Oakland
• Control #: US-EG-9046
• Format: Word; Rich Text

Description

Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. dated 00/00. 166 pages The Oakland Michigan Pooling and Servicing Agreement (PSA) of New Century Mortgage Securities, Inc. is a legal document that outlines the terms and conditions governing the creation, rights, and obligations of a mortgage-backed securities (MBS) pool. This agreement is specific to the operations and practices followed by New Century Mortgage Securities, Inc. in Oakland, Michigan. The PSA governs the pooling of mortgage loans, their servicing, and the distribution of cash flows generated from these loans to the investors who hold interests in the MBS pool. It defines the roles and responsibilities of various parties involved, including the originating lender, the service, the trustee, and the investors. The specific terms and provisions outlined in the Oakland Michigan Pooling and Servicing Agreement may vary depending on the specific MBS pool issued by New Century Mortgage Securities, Inc. in Oakland, Michigan. Some key types or variations of PSA within this context could include: 1. Residential Mortgage-Backed Securities (RMBS) PSA: This agreement pertains to MBS pools backed by residential mortgage loans, such as single-family homes, condominiums, or townhouses located within Oakland, Michigan. It governs the terms of payment, interest rates, and the allocation of principal and interest to the investors. 2. Commercial Mortgage-Backed Securities (CMOS) PSA: This type of PSA is specifically related to MBS pools backed by commercial mortgage loans, including properties like office buildings, shopping centers, or industrial properties in Oakland, Michigan. It outlines the unique characteristics, cash flow distribution rules, and risk factors associated with commercial loans. 3. Prime or Subprime Mortgage PSA: Depending on the quality and creditworthiness of the underlying mortgage loans within the MBS pool in Oakland, Michigan, there may be different SAS catering to prime or subprime mortgage-backed securities. These agreements would specify relevant terms, loan criteria, and risk factors associated with each category. 4. Fixed-Rate or Adjustable-Rate Mortgage PSA: This variation of PSA differentiates the MBS pool types based on whether the underlying mortgages have fixed or adjustable interest rates. It would address the specifics related to the interest rate calculations, adjustments, and implications for cash flow distributions. Overall, the Oakland Michigan Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. is a vital legal document that outlines how mortgage loans are pooled, serviced, and distributed to investors within the MBS pool. Its variations encompass different types of MBS pools backed by residential or commercial loans, prime or subprime mortgages, and fixed or adjustable interest rates.

The Oakland Michigan Pooling and Servicing Agreement (PSA) of New Century Mortgage Securities, Inc. is a legal document that outlines the terms and conditions governing the creation, rights, and obligations of a mortgage-backed securities (MBS) pool. This agreement is specific to the operations and practices followed by New Century Mortgage Securities, Inc. in Oakland, Michigan. The PSA governs the pooling of mortgage loans, their servicing, and the distribution of cash flows generated from these loans to the investors who hold interests in the MBS pool. It defines the roles and responsibilities of various parties involved, including the originating lender, the service, the trustee, and the investors. The specific terms and provisions outlined in the Oakland Michigan Pooling and Servicing Agreement may vary depending on the specific MBS pool issued by New Century Mortgage Securities, Inc. in Oakland, Michigan. Some key types or variations of PSA within this context could include: 1. Residential Mortgage-Backed Securities (RMBS) PSA: This agreement pertains to MBS pools backed by residential mortgage loans, such as single-family homes, condominiums, or townhouses located within Oakland, Michigan. It governs the terms of payment, interest rates, and the allocation of principal and interest to the investors. 2. Commercial Mortgage-Backed Securities (CMOS) PSA: This type of PSA is specifically related to MBS pools backed by commercial mortgage loans, including properties like office buildings, shopping centers, or industrial properties in Oakland, Michigan. It outlines the unique characteristics, cash flow distribution rules, and risk factors associated with commercial loans. 3. Prime or Subprime Mortgage PSA: Depending on the quality and creditworthiness of the underlying mortgage loans within the MBS pool in Oakland, Michigan, there may be different SAS catering to prime or subprime mortgage-backed securities. These agreements would specify relevant terms, loan criteria, and risk factors associated with each category. 4. Fixed-Rate or Adjustable-Rate Mortgage PSA: This variation of PSA differentiates the MBS pool types based on whether the underlying mortgages have fixed or adjustable interest rates. It would address the specifics related to the interest rate calculations, adjustments, and implications for cash flow distributions. Overall, the Oakland Michigan Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. is a vital legal document that outlines how mortgage loans are pooled, serviced, and distributed to investors within the MBS pool. Its variations encompass different types of MBS pools backed by residential or commercial loans, prime or subprime mortgages, and fixed or adjustable interest rates.