Harris Texas Pooling and Servicing Agreement between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A. and Bank One

• Category: Corporations - Public - Pooling and Servicing
• State: Multi-State
• County: Harris
• Control #: US-EG-9080
• Format: Word; Rich Text

Description

Pooling and Servicing Agr. btwn Credit Suisse First Boston Mortgage Securities Corp., Wash. Mutual Bank F.A. and Bank One - National Association dated Nov. 1, 1999. 213 pages Harris Texas Pooling and Servicing Agreement is a legally binding contract involving various entities, primarily Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One. This agreement sets forth the terms and conditions under which these parties collaborate for the pooling and servicing of mortgage-backed securities in Harris County, Texas. Pooling and servicing agreements are common in the financial industry and play a crucial role in the securitization process. They bring together a pool of individual mortgage loans, creating a mortgage-backed security (MBS). These Mass are then sold to investors, offering them a share of the mortgage loan repayments. The Harris Texas Pooling and Servicing Agreement outlines several essential aspects, including the responsibilities and obligations of each party involved. Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One typically have specific roles, which may be described in separate sections of the agreement: 1. Credit Suisse First Boston Mortgage Securities Corp.: As a prominent financial institution, Credit Suisse plays a vital role as the issuer and sponsor of the MBS securities. They are accountable for compliance with relevant regulatory guidelines and ensuring proper documentation throughout the securitization process. 2. Washington Mutual Bank F.A.: This entity is often responsible for originating or purchasing the underlying mortgage loans that will be pooled together. They provide the initial funding to borrowers and handle loan servicing activities such as collecting borrower payments, managing escrow accounts, and addressing any delinquencies or defaults. 3. Bank One: Bank One, being a participant in the agreement, may serve various functions, depending on the specific terms outlined in the agreement. They may act as a co-sponsor, co-issuer, or investor, contributing to the overall securitization process. The agreement will detail aspects such as the allocation of cash flows generated from the pooled mortgage loans, the rights and responsibilities of each party during the servicing process, and the distribution of any proceeds to investors. It is important to note that the specific terms and conditions of the Harris Texas Pooling and Servicing Agreement may differ from other agreements involving the same parties. Different types of Harris Texas Pooling and Servicing Agreements may exist, depending on factors such as the type of mortgage loans, the duration of the agreement, the risk profile of the underlying loans, and the investment preferences of the parties involved. In summary, the Harris Texas Pooling and Servicing Agreement represents a collaborative effort between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One to securitize mortgage loans in Harris County, Texas. These agreements are crucial for the functioning of the secondary mortgage market and provide investment opportunities for various stakeholders in the financial industry.

Harris Texas Pooling and Servicing Agreement is a legally binding contract involving various entities, primarily Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One. This agreement sets forth the terms and conditions under which these parties collaborate for the pooling and servicing of mortgage-backed securities in Harris County, Texas. Pooling and servicing agreements are common in the financial industry and play a crucial role in the securitization process. They bring together a pool of individual mortgage loans, creating a mortgage-backed security (MBS). These Mass are then sold to investors, offering them a share of the mortgage loan repayments. The Harris Texas Pooling and Servicing Agreement outlines several essential aspects, including the responsibilities and obligations of each party involved. Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One typically have specific roles, which may be described in separate sections of the agreement: 1. Credit Suisse First Boston Mortgage Securities Corp.: As a prominent financial institution, Credit Suisse plays a vital role as the issuer and sponsor of the MBS securities. They are accountable for compliance with relevant regulatory guidelines and ensuring proper documentation throughout the securitization process. 2. Washington Mutual Bank F.A.: This entity is often responsible for originating or purchasing the underlying mortgage loans that will be pooled together. They provide the initial funding to borrowers and handle loan servicing activities such as collecting borrower payments, managing escrow accounts, and addressing any delinquencies or defaults. 3. Bank One: Bank One, being a participant in the agreement, may serve various functions, depending on the specific terms outlined in the agreement. They may act as a co-sponsor, co-issuer, or investor, contributing to the overall securitization process. The agreement will detail aspects such as the allocation of cash flows generated from the pooled mortgage loans, the rights and responsibilities of each party during the servicing process, and the distribution of any proceeds to investors. It is important to note that the specific terms and conditions of the Harris Texas Pooling and Servicing Agreement may differ from other agreements involving the same parties. Different types of Harris Texas Pooling and Servicing Agreements may exist, depending on factors such as the type of mortgage loans, the duration of the agreement, the risk profile of the underlying loans, and the investment preferences of the parties involved. In summary, the Harris Texas Pooling and Servicing Agreement represents a collaborative effort between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A., and Bank One to securitize mortgage loans in Harris County, Texas. These agreements are crucial for the functioning of the secondary mortgage market and provide investment opportunities for various stakeholders in the financial industry.