Lima Arizona Pooling and Servicing Agreement is a comprehensive legal contract executed between Green point Credit, LLC and Bank One, National Association, outlining the terms and conditions for pooling and servicing mortgage loans in Lima, Arizona. This agreement establishes a framework for the management, administration, and disposition of a specific mortgage pool. Green point Credit, LLC, referred to as the "Seller" or "Service," is a leading financial institution specializing in mortgage lending services, while Bank One, National Association, referred to as the "Purchaser" or "Trustee," is a reputable banking organization with expertise in asset management. The parties involved in the agreement, Green point Credit, LLC and Bank One, National Association, are dedicated to ensuring the smooth operation and effective management of mortgage loans in Lima, Arizona. Through this agreement, they aim to establish clear guidelines and responsibilities regarding the collection, distribution, and maintenance of loan payments, as well as the handling of any defaulting loans or foreclosures. Specific provisions covered under the Lima Arizona Pooling and Servicing Agreement include: 1. Mortgage Loan Pool Formation: This section outlines the criteria for selecting individual mortgage loans to be included in the pool, such as geographical location, type of mortgage, and creditworthiness of borrowers. It may also detail the permissible loan-to-value ratios, loan sizes, and other requirements. 2. Payment Collection and Distribution: The agreement specifies how and when borrowers' payments are collected, and how the funds are distributed among investors or bondholders. It may outline the process of principal and interest disbursement, reserve funds for taxes and insurance, and any applicable servicing fees. 3. Servicing Responsibilities: Serving as an important aspect of the agreement, this section defines the responsibilities of Green point Credit, LLC as the service. It may include servicing fees, escrow account maintenance, borrower communications, record-keeping, and compliance with applicable laws and regulations. 4. Reporting and Auditing: The agreement may require regular reporting of loan performance, including delinquencies, defaults, and prepayments. Additionally, it may stipulate the auditing requirements to ensure compliance and accuracy in the servicing and investor reporting. 5. Compensation and Indemnification: This section outlines the compensation terms for the service, including fee structures, reimbursement of expenses, and any penalties or remedies for non-performance. It also addresses indemnification clauses, protecting both parties from potential losses or legal claims arising from errors, omissions, or breach of contract. It is important to note that the specific terms of the Lima Arizona Pooling and Servicing Agreement between Green point Credit, LLC and Bank One, National Association can vary depending on the nature and structure of the mortgage pool. If there are multiple agreements, they might differ based on the loan types, risk characteristics, or other specific criteria required by investors or regulatory authorities.
Pima Arizona Pooling and Servicing Agreement between Greenpoint Credit, LLC and Bank One, National Association
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The Pooling and Servicing Agreement can be a stand-alone document or it can be part of another paper, usually called the Prospectus. If the securitization is public, these documents must be filed with the Securities and Exchange Commission (SEC), and will be available to the public at .
Loan Pool means: (a) in the context of a Securitization, any pool or group of loans that are a part of such Securitization; (b) in the context of a Transfer, all loans which are sold, transferred or assigned to the same transferee; and (c) in the context of a Participation, all loans as to which participating interests
Loan servicing includes sending monthly payment statements, collecting monthly payments, maintaining records of payments and balances, collecting and paying taxes and insurance (and managing escrow funds), remitting funds to the note holder, and following up on any delinquencies.
Securitization is the process in which certain types of assets are pooled so that they can be repackaged into interest-bearing securities. The interest and principal payments from the assets are passed through to the purchasers of the securities.
Go to and click on Search for Company Filings under Filing & Forms (EDGAR). Under General-Purpose Searches, click on Companies & other filers. Then, in the Enter your search information box, type in Ameriquest next to Company name and click on the Find Companies button.
A loan servicing agreement is a written contract between a lender and a loan servicer that gives the loan servicer the authority to manage most aspects of a particular loan.
The Public Securities Association Standard Prepayment Model (PSA) is the assumed monthly rate of prepayment that is annualized to the outstanding principal balance of a mortgage loan.
A servicing agreement is a contract between a servicer and a special purpose vehicle (SPV) or an assignee under which the servicer is responsible for administering a lease and acting as a conduit for all payments over the lease term in return for a periodic servicing fee .
Mortgage servicing rights (MSR) refer to a contractual agreement in which the right to service an existing mortgage is sold by the original mortgage lender to another party that specializes in the various functions involved with servicing mortgages.
As an example, there are several ways for homeowners to find out who owns their mortgages: Contact your mortgage servicer.Run a check on the MERS (Mortgage Electronic Registration System) website.Visit the Ginnie Mae, Fannie Mae and Freddie Mac websites to use their loan lookup tools.