Phoenix Arizona Pooling and Servicing Agreement of New Century Mortgage Securities, Inc.

• Category: Corporations - Public - Pooling and Servicing
• State: Multi-State
• City: Phoenix
• 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 Phoenix Arizona Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. is a legal contract that governs the pooling and servicing of mortgage loans originated by New Century Mortgage Corporation in the Phoenix, Arizona area. This agreement outlines the rights and responsibilities of various parties involved in the securitization process. The agreement is designed to facilitate the creation of mortgage-backed securities (MBS) by pooling many individual mortgage loans and selling them to investors. By pooling these loans together, New Century Mortgage Securities, Inc. can generate liquidity and diversify risk for investors interested in mortgage-related investments. Some key parties involved in the Phoenix Arizona Pooling and Servicing Agreement include New Century Mortgage Securities, Inc. as the depositor, a master service responsible for the administration of the mortgage loans, a trustee who oversees the interests of the investors, and a document custodian who securely holds the loan documents. The agreement includes detailed provisions regarding the mortgage loan transfer process, the allocation of principal and interest payments, foreclosure procedures, and the remittance of funds to investors. It also outlines the service's obligations, such as collecting loan payments, addressing borrower inquiries, and managing defaults and delinquencies. Different types of Phoenix Arizona Pooling and Servicing Agreements of New Century Mortgage Securities, Inc. may exist depending on the specific characteristics of the mortgage loans pooled. For example, there could be agreements that focus on specific loan types (such as prime or subprime), varying loan-to-value ratios, geographic locations within Phoenix, or different risk profiles. These agreements are carefully structured to comply with applicable laws and regulations, including those set forth by the Securities and Exchange Commission (SEC) and the Federal Housing Finance Agency (FIFA). They are typically filed as public documents, allowing investors and other interested parties to review the terms and conditions of the securitization. In summary, the Phoenix Arizona Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. is a legally binding contract that governs the pooling and servicing of mortgage loans in the Phoenix area. It ensures smooth operations, protection of investor interests, and compliance with applicable regulations, promoting transparency and stability in the mortgage-backed securities market.

The Phoenix Arizona Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. is a legal contract that governs the pooling and servicing of mortgage loans originated by New Century Mortgage Corporation in the Phoenix, Arizona area. This agreement outlines the rights and responsibilities of various parties involved in the securitization process. The agreement is designed to facilitate the creation of mortgage-backed securities (MBS) by pooling many individual mortgage loans and selling them to investors. By pooling these loans together, New Century Mortgage Securities, Inc. can generate liquidity and diversify risk for investors interested in mortgage-related investments. Some key parties involved in the Phoenix Arizona Pooling and Servicing Agreement include New Century Mortgage Securities, Inc. as the depositor, a master service responsible for the administration of the mortgage loans, a trustee who oversees the interests of the investors, and a document custodian who securely holds the loan documents. The agreement includes detailed provisions regarding the mortgage loan transfer process, the allocation of principal and interest payments, foreclosure procedures, and the remittance of funds to investors. It also outlines the service's obligations, such as collecting loan payments, addressing borrower inquiries, and managing defaults and delinquencies. Different types of Phoenix Arizona Pooling and Servicing Agreements of New Century Mortgage Securities, Inc. may exist depending on the specific characteristics of the mortgage loans pooled. For example, there could be agreements that focus on specific loan types (such as prime or subprime), varying loan-to-value ratios, geographic locations within Phoenix, or different risk profiles. These agreements are carefully structured to comply with applicable laws and regulations, including those set forth by the Securities and Exchange Commission (SEC) and the Federal Housing Finance Agency (FIFA). They are typically filed as public documents, allowing investors and other interested parties to review the terms and conditions of the securitization. In summary, the Phoenix Arizona Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. is a legally binding contract that governs the pooling and servicing of mortgage loans in the Phoenix area. It ensures smooth operations, protection of investor interests, and compliance with applicable regulations, promoting transparency and stability in the mortgage-backed securities market.