Collin Texas Pooling and Servicing Agreement between Greenpoint Credit, LLC and Bank One, National Association

• Category: Corporations - Public - Pooling and Servicing
• State: Multi-State
• County: Collin
• Control #: US-EG-9195
• Format: Word; Rich Text

Description

Pooling and Servicing Agreement between Greenpoint Credit, LLC and Bank One, National Association dated December 1, 1999. 112 pages Collin Texas Pooling and Servicing Agreement: The Collin Texas Pooling and Servicing Agreement refers to a legally binding contract between Green point Credit, LLC (hereinafter referred to as "Green point Credit") and Bank One, National Association (hereinafter referred to as "Bank One"). This agreement outlines the terms and conditions under which loan pools are assembled, managed, and serviced for residential mortgage-backed securities (RMBS) in Collin County, Texas. This specific agreement between Green point Credit and Bank One establishes a systematic process for pooling many mortgage loans from various Collin County homeowners. The pooled loans are then packaged into mortgage-backed securities and sold to investors within the financial markets. The agreement primarily aims to ensure the efficient servicing and management of these mortgage-backed securities, as well as provide clear guidelines for the rights and responsibilities of both parties involved. Key components of the Collin Texas Pooling and Servicing Agreement may include: 1. Pooling Criteria: The agreement typically outlines the specific criteria that need to be met for a loan to be included in the pool. Such criteria may include loan types, borrowing limits, creditworthiness, and other relevant factors. 2. Pool Formation: It details the process of assembling the mortgage loans into a pool, including the documentation required for each loan, compliance with regulatory guidelines, and adherence to specific loan-to-value ratios. 3. Servicing Responsibilities: It elucidates the duties and responsibilities of both Green point Credit and Bank One regarding servicing the mortgage loans. This includes collecting borrower payments, managing escrow accounts, responding to borrower inquiries, and handling delinquencies and defaults. 4. Pool Administration: This section outlines the ongoing responsibilities for managing the pool, such as record-keeping, reporting to investors, handling prepayments, and overseeing the distribution of cash flows from the mortgage-backed securities. 5. Indemnification and Representations: It specifies the indemnification provisions and representations made by both parties to mitigate any potential legal liabilities and ensure transparency in the agreement. Different Types of Collin Texas Pooling and Servicing Agreement: While there may not be specifically named variations of the Collin Texas Pooling and Servicing Agreement between Green point Credit, LLC and Bank One, National Association, it is important to note that pooling and servicing agreements can differ in terms of loan types, geographic regions, or specific loan origination parameters. Each agreement is tailored to the specific requirements and circumstances of the parties involved, but they generally serve the purpose of assembling mortgage loans into mortgage-backed securities and efficiently managing their servicing.

Collin Texas Pooling and Servicing Agreement: The Collin Texas Pooling and Servicing Agreement refers to a legally binding contract between Green point Credit, LLC (hereinafter referred to as "Green point Credit") and Bank One, National Association (hereinafter referred to as "Bank One"). This agreement outlines the terms and conditions under which loan pools are assembled, managed, and serviced for residential mortgage-backed securities (RMBS) in Collin County, Texas. This specific agreement between Green point Credit and Bank One establishes a systematic process for pooling many mortgage loans from various Collin County homeowners. The pooled loans are then packaged into mortgage-backed securities and sold to investors within the financial markets. The agreement primarily aims to ensure the efficient servicing and management of these mortgage-backed securities, as well as provide clear guidelines for the rights and responsibilities of both parties involved. Key components of the Collin Texas Pooling and Servicing Agreement may include: 1. Pooling Criteria: The agreement typically outlines the specific criteria that need to be met for a loan to be included in the pool. Such criteria may include loan types, borrowing limits, creditworthiness, and other relevant factors. 2. Pool Formation: It details the process of assembling the mortgage loans into a pool, including the documentation required for each loan, compliance with regulatory guidelines, and adherence to specific loan-to-value ratios. 3. Servicing Responsibilities: It elucidates the duties and responsibilities of both Green point Credit and Bank One regarding servicing the mortgage loans. This includes collecting borrower payments, managing escrow accounts, responding to borrower inquiries, and handling delinquencies and defaults. 4. Pool Administration: This section outlines the ongoing responsibilities for managing the pool, such as record-keeping, reporting to investors, handling prepayments, and overseeing the distribution of cash flows from the mortgage-backed securities. 5. Indemnification and Representations: It specifies the indemnification provisions and representations made by both parties to mitigate any potential legal liabilities and ensure transparency in the agreement. Different Types of Collin Texas Pooling and Servicing Agreement: While there may not be specifically named variations of the Collin Texas Pooling and Servicing Agreement between Green point Credit, LLC and Bank One, National Association, it is important to note that pooling and servicing agreements can differ in terms of loan types, geographic regions, or specific loan origination parameters. Each agreement is tailored to the specific requirements and circumstances of the parties involved, but they generally serve the purpose of assembling mortgage loans into mortgage-backed securities and efficiently managing their servicing.