Houston Texas Grantor Trust Agreement between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank FA and Bank One, National Assoc.

• Category: Corporations - Public - Agreements - Trusts
• State: Multi-State
• City: Houston
• Control #: US-EG-9082
• Format: Word; Rich Text

Description

Grantor Trust Agr. btwn Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank FA and Bank One, National Association dated Nov. 1, 1999. 47 pages Houston Texas Granter Trust Agreement between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank FA, and Bank One, National Association is a legal document that outlines the terms and conditions of a trust agreement between these three entities. This agreement is generally used in the context of mortgage-backed securities (MBS) transactions. A Granter Trust Agreement is primarily established to transfer the ownership of assets, such as mortgage loans, from the originating financial institution (Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank FA, or Bank One, National Assoc.) to a separate legal entity, known as the trust. The trust, in turn, issues MBS to investors, providing them with an interest in the mortgage pool. The specific terms and conditions of the trust agreement may vary depending on the transaction, but some common details include: 1. Parties involved: The agreement will clearly specify the parties involved, namely Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank FA, and Bank One, National Assoc. 2. Trust structure: The agreement outlines the creation and structure of the trust entity, typically a Delaware statutory trust. It defines the trustee, who is responsible for managing the trust and ensuring compliance with the terms of the agreement. 3. Asset transfer: The agreement outlines the transfer of mortgage loans from the originating financial institutions to the trust. This transfer ensures that the trust becomes the legal owner of the assets and can issue MBS to investors based on these assets. 4. Pooling and servicing arrangements: The agreement may address the pooling of mortgage loans into a mortgage pool or pools, specifying the criteria for inclusion. It also addresses the servicing arrangements, outlining the responsibilities of the service in managing and collecting payments from the underlying mortgage loans. 5. Distribution of cash flows: The agreement outlines the distribution of cash flows generated by the underlying mortgage loans. These cash flows are used to make payments to MBS holders, covering principal and interest payments from the mortgage pool. 6. Representations and warranties: The agreement may include representations and warranties made by the originating financial institutions regarding the quality and accuracy of the mortgage loans. These assurances provide additional protection to the investors purchasing the MBS. It is important to note that the specific names or types of Houston Texas Granter Trust Agreement between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank FA, and Bank One, National Assoc. May vary depending on the transaction or the specific pooling and servicing arrangement. However, irrespective of the name or type, the primary purpose of the agreement remains the same, which is to facilitate the securitization and transfer of mortgage loans to a trust entity.

Houston Texas Granter Trust Agreement between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank FA, and Bank One, National Association is a legal document that outlines the terms and conditions of a trust agreement between these three entities. This agreement is generally used in the context of mortgage-backed securities (MBS) transactions. A Granter Trust Agreement is primarily established to transfer the ownership of assets, such as mortgage loans, from the originating financial institution (Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank FA, or Bank One, National Assoc.) to a separate legal entity, known as the trust. The trust, in turn, issues MBS to investors, providing them with an interest in the mortgage pool. The specific terms and conditions of the trust agreement may vary depending on the transaction, but some common details include: 1. Parties involved: The agreement will clearly specify the parties involved, namely Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank FA, and Bank One, National Assoc. 2. Trust structure: The agreement outlines the creation and structure of the trust entity, typically a Delaware statutory trust. It defines the trustee, who is responsible for managing the trust and ensuring compliance with the terms of the agreement. 3. Asset transfer: The agreement outlines the transfer of mortgage loans from the originating financial institutions to the trust. This transfer ensures that the trust becomes the legal owner of the assets and can issue MBS to investors based on these assets. 4. Pooling and servicing arrangements: The agreement may address the pooling of mortgage loans into a mortgage pool or pools, specifying the criteria for inclusion. It also addresses the servicing arrangements, outlining the responsibilities of the service in managing and collecting payments from the underlying mortgage loans. 5. Distribution of cash flows: The agreement outlines the distribution of cash flows generated by the underlying mortgage loans. These cash flows are used to make payments to MBS holders, covering principal and interest payments from the mortgage pool. 6. Representations and warranties: The agreement may include representations and warranties made by the originating financial institutions regarding the quality and accuracy of the mortgage loans. These assurances provide additional protection to the investors purchasing the MBS. It is important to note that the specific names or types of Houston Texas Granter Trust Agreement between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank FA, and Bank One, National Assoc. May vary depending on the transaction or the specific pooling and servicing arrangement. However, irrespective of the name or type, the primary purpose of the agreement remains the same, which is to facilitate the securitization and transfer of mortgage loans to a trust entity.