Travis Texas Pooling and Servicing Agreement is a legal document associated with New Century Mortgage Securities, Inc., a mortgage-backed securities issuer. It outlines the terms and conditions for pooling multiple mortgage loans into a single investment vehicle, along with the servicing responsibilities for the loans. This agreement serves as the contractual framework between the issuer, New Century Mortgage Securities, Inc., and the investors who purchase the mortgage-backed securities. It contains detailed provisions related to the creation, maintenance, and management of mortgage loan pools, ensuring compliance with regulatory requirements and investor protection. Keywords: Travis Texas Pooling and Servicing Agreement, New Century Mortgage Securities, mortgage-backed securities, pooling, servicing responsibilities, contractual framework Types of Travis Texas Pooling and Servicing Agreement of New Century Mortgage Securities, Inc. may include: 1. Residential MBS Pooling and Servicing Agreement: This type of agreement involves the pooling of residential mortgage loans, typically secured by single-family homes or condominiums. The agreement outlines how these loans will be pooled, the specific terms for servicing the loans, and the distribution of cash flows from the underlying mortgage payments to the investors. 2. Commercial MBS Pooling and Servicing Agreement: This variant of the agreement focuses on the pooling of commercial real estate mortgage loans, such as office buildings, retail centers, or industrial properties. It specifies the terms for administering these loans, including lease management, rental income distributions, and handling potential defaults or foreclosures. 3. Non-Agency MBS Pooling and Servicing Agreement: This type of agreement pertains to mortgage-backed securities that are not guaranteed or sponsored by government entities like Fannie Mae or Freddie Mac. It lays out the terms and conditions for privately issued MBS, often featuring non-traditional or subprime mortgage loans. The agreement addresses the unique risks and characteristics associated with these non-agency mortgage-backed securities. Keywords: Residential MBS, Commercial MBS, Non-Agency MBS, mortgage-backed securities, pooling, servicing responsibilities, loan types
Travis Texas Pooling and Servicing Agreement of New Century Mortgage Securities, Inc.
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