Chicago Illinois Pooling and Servicing Agreement contemplating the sale of mortgage loans to Trustee for inclusion in the Trust Fund by the company

• Category: Real Estate - Mortgages and Deeds of Trust
• State: Multi-State
• City: Chicago
• Control #: US-EG-9219
• Format: Word; Rich Text

Description

Pooling and Servicing Agreement between MLCC Mortgage Investors, Inc., Merrill Lynch Credit Corporation and Bankers Trust Company of California, NA contemplating the sale of mortgage loans to Trustee for inclusion in the Trust Fund by the company dated Chicago Illinois Pooling and Servicing Agreement is a legal document commonly used in the mortgage industry to facilitate the securitization and sale of mortgage loans. This agreement outlines the terms and conditions under which the mortgage loans are sold by a company to a trustee who will then hold them in a trust fund. The purpose of the Pooling and Servicing Agreement is to establish the rights, responsibilities, and obligations of the parties involved in the securitization process. It typically includes detailed provisions regarding the transfer of mortgage loans, the management of the trust fund, and the servicing of the loans. In the context of Chicago, Illinois, there may be different types of Pooling and Servicing Agreements specifically tailored to the state's laws and regulations. These agreements can vary depending on the type of mortgage loans being securitized and the specific requirements set forth by local authorities. Some potential types of Pooling and Servicing Agreements in Chicago, Illinois include: 1. Residential Mortgage Loan Pooling and Servicing Agreement: This type of agreement is used when residential mortgage loans are being securitized and sold to a trustee for inclusion in the trust fund. 2. Commercial Mortgage Loan Pooling and Servicing Agreement: In the case of commercial mortgage loans, a specific agreement may be used to govern their securitization and sale to a trustee. 3. Government-Sponsored Enterprise (GSE) Pooling and Servicing Agreement: This type of agreement is specific to mortgage loans backed by government entities such as Fannie Mae or Freddie Mac. It outlines the specific procedures and requirements for securitizing and selling these loans. 4. Non-Performing Mortgage Loan Pooling and Servicing Agreement: In situations where non-performing mortgage loans are being sold, a specialized agreement may be used to address the unique challenges and considerations associated with these assets. It's important to note that the specific names and types of Pooling and Servicing Agreements may vary among different companies and transactions. These examples serve to illustrate the potential range of agreements that may be used in Chicago, Illinois, considering the sale of mortgage loans to a trustee for inclusion in a trust fund.

Chicago Illinois Pooling and Servicing Agreement is a legal document commonly used in the mortgage industry to facilitate the securitization and sale of mortgage loans. This agreement outlines the terms and conditions under which the mortgage loans are sold by a company to a trustee who will then hold them in a trust fund. The purpose of the Pooling and Servicing Agreement is to establish the rights, responsibilities, and obligations of the parties involved in the securitization process. It typically includes detailed provisions regarding the transfer of mortgage loans, the management of the trust fund, and the servicing of the loans. In the context of Chicago, Illinois, there may be different types of Pooling and Servicing Agreements specifically tailored to the state's laws and regulations. These agreements can vary depending on the type of mortgage loans being securitized and the specific requirements set forth by local authorities. Some potential types of Pooling and Servicing Agreements in Chicago, Illinois include: 1. Residential Mortgage Loan Pooling and Servicing Agreement: This type of agreement is used when residential mortgage loans are being securitized and sold to a trustee for inclusion in the trust fund. 2. Commercial Mortgage Loan Pooling and Servicing Agreement: In the case of commercial mortgage loans, a specific agreement may be used to govern their securitization and sale to a trustee. 3. Government-Sponsored Enterprise (GSE) Pooling and Servicing Agreement: This type of agreement is specific to mortgage loans backed by government entities such as Fannie Mae or Freddie Mac. It outlines the specific procedures and requirements for securitizing and selling these loans. 4. Non-Performing Mortgage Loan Pooling and Servicing Agreement: In situations where non-performing mortgage loans are being sold, a specialized agreement may be used to address the unique challenges and considerations associated with these assets. It's important to note that the specific names and types of Pooling and Servicing Agreements may vary among different companies and transactions. These examples serve to illustrate the potential range of agreements that may be used in Chicago, Illinois, considering the sale of mortgage loans to a trustee for inclusion in a trust fund.