Franklin Ohio 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
• County: Franklin
• 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 Franklin Ohio Pooling and Servicing Agreement is a legal document that outlines the terms and conditions for the sale of mortgage loans by a company to a Trustee for inclusion in a Trust Fund. This agreement is commonly used in the mortgage industry to facilitate the transfer of mortgage assets from the originator to a trust. The purpose of the Franklin Ohio Pooling and Servicing Agreement is to establish the rights and responsibilities of the parties involved in the transaction. It sets out the criteria for selecting the mortgage loans, the terms for the sale, and the ongoing servicing of the loans within the Trust Fund. The agreement typically includes provisions related to the types of mortgage loans eligible for sale, such as conforming, non-conforming, fixed-rate, adjustable-rate, or government-backed loans. It also outlines the conditions under which the Trustee can accept or reject the loans offered by the company. Furthermore, the Franklin Ohio Pooling and Servicing Agreement outlines the duties and obligations of the company and the Trustee. This includes requirements for ensuring the loans comply with applicable laws and regulations, maintaining proper documentation, handling escrow accounts, and servicing the loans on behalf of the Trust Fund. In addition, the agreement may address the distribution of income generated by the mortgage loans, such as principal and interest payments, prepayment penalties, and default-related income. It may also cover the allocation of any loss or expenses incurred in relation to the loans. It's important to note that while the specific terms and provisions of a Franklin Ohio Pooling and Servicing Agreement may vary, the ultimate goal of the agreement is to establish a transparent and secure mechanism for the transfer and management of mortgage loans within a trust structure. Keywords: Franklin Ohio Pooling and Servicing Agreement, sale of mortgage loans, Trustee, Trust Fund, conforming loans, non-conforming loans, fixed-rate loans, adjustable-rate loans, government-backed loans, eligibility criteria, duties and obligations, compliance, documentation, escrow accounts, servicing, income distribution, loss allocation.

Franklin Ohio Pooling and Servicing Agreement is a legal document that outlines the terms and conditions for the sale of mortgage loans by a company to a Trustee for inclusion in a Trust Fund. This agreement is commonly used in the mortgage industry to facilitate the transfer of mortgage assets from the originator to a trust. The purpose of the Franklin Ohio Pooling and Servicing Agreement is to establish the rights and responsibilities of the parties involved in the transaction. It sets out the criteria for selecting the mortgage loans, the terms for the sale, and the ongoing servicing of the loans within the Trust Fund. The agreement typically includes provisions related to the types of mortgage loans eligible for sale, such as conforming, non-conforming, fixed-rate, adjustable-rate, or government-backed loans. It also outlines the conditions under which the Trustee can accept or reject the loans offered by the company. Furthermore, the Franklin Ohio Pooling and Servicing Agreement outlines the duties and obligations of the company and the Trustee. This includes requirements for ensuring the loans comply with applicable laws and regulations, maintaining proper documentation, handling escrow accounts, and servicing the loans on behalf of the Trust Fund. In addition, the agreement may address the distribution of income generated by the mortgage loans, such as principal and interest payments, prepayment penalties, and default-related income. It may also cover the allocation of any loss or expenses incurred in relation to the loans. It's important to note that while the specific terms and provisions of a Franklin Ohio Pooling and Servicing Agreement may vary, the ultimate goal of the agreement is to establish a transparent and secure mechanism for the transfer and management of mortgage loans within a trust structure. Keywords: Franklin Ohio Pooling and Servicing Agreement, sale of mortgage loans, Trustee, Trust Fund, conforming loans, non-conforming loans, fixed-rate loans, adjustable-rate loans, government-backed loans, eligibility criteria, duties and obligations, compliance, documentation, escrow accounts, servicing, income distribution, loss allocation.