Kings New York 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: Kings
• 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 Kings New York Pooling and Servicing Agreement (PSA) is a legal document that outlines the terms and conditions for the sale of mortgage loans to a trustee for inclusion in a Trust Fund. This agreement is commonly used by companies involved in mortgage securitization to transfer the ownership of mortgage loans to a trust. The PSA encompasses various details and provisions related to the sale, servicing, and management of the mortgage loans. It outlines the roles and responsibilities of the company selling the loans, the trustee, and any other involved parties. The primary purpose of the Kings New York PSA is to provide investors with a clear understanding of the risks and benefits associated with investing in the mortgage-backed securities (MBS) issued by the Trust Fund. By specifying the terms of the mortgage loan sale and the ongoing servicing of the loans, this agreement ensures transparency and establishes the rights and obligations of all parties involved. Some key provisions that may be included in the Kings New York PSA are: 1. Loan Pool Characteristics: This section details the characteristics of the mortgage loans included in the sale, such as loan amounts, interest rates, borrower credit information, and any special features of the loans. 2. Representations and Warranties: The PSA includes provisions where the selling company represents the validity and accuracy of the mortgage loan information. These representations and warranties protect the investor from any potential misrepresentation or fraud. 3. Servicing Arrangements: The agreement specifies how the mortgage loans will be serviced after the sale, including the collection of payments, escrow administration, and handling of delinquencies or defaults. 4. Cash Flow Allocation: This section outlines how the cash flows generated from the mortgage loans, including principal and interest payments, will be allocated among the investors in the Trust Fund. It includes details regarding the priority of payments, reserves, and excess funds. It's important to note that the specifics of a Kings New York PSA can vary depending on the particular transaction and the preferences of the parties involved. Different types of Pooling and Servicing Agreements contemplating the sale of mortgage loans to a trustee for inclusion in the Trust Fund may exist, but they would be specific to other regions, jurisdictions, or parties involved. Therefore, for the given context, no other specific types of Pooling and Servicing Agreements are named.

Kings New York Pooling and Servicing Agreement (PSA) is a legal document that outlines the terms and conditions for the sale of mortgage loans to a trustee for inclusion in a Trust Fund. This agreement is commonly used by companies involved in mortgage securitization to transfer the ownership of mortgage loans to a trust. The PSA encompasses various details and provisions related to the sale, servicing, and management of the mortgage loans. It outlines the roles and responsibilities of the company selling the loans, the trustee, and any other involved parties. The primary purpose of the Kings New York PSA is to provide investors with a clear understanding of the risks and benefits associated with investing in the mortgage-backed securities (MBS) issued by the Trust Fund. By specifying the terms of the mortgage loan sale and the ongoing servicing of the loans, this agreement ensures transparency and establishes the rights and obligations of all parties involved. Some key provisions that may be included in the Kings New York PSA are: 1. Loan Pool Characteristics: This section details the characteristics of the mortgage loans included in the sale, such as loan amounts, interest rates, borrower credit information, and any special features of the loans. 2. Representations and Warranties: The PSA includes provisions where the selling company represents the validity and accuracy of the mortgage loan information. These representations and warranties protect the investor from any potential misrepresentation or fraud. 3. Servicing Arrangements: The agreement specifies how the mortgage loans will be serviced after the sale, including the collection of payments, escrow administration, and handling of delinquencies or defaults. 4. Cash Flow Allocation: This section outlines how the cash flows generated from the mortgage loans, including principal and interest payments, will be allocated among the investors in the Trust Fund. It includes details regarding the priority of payments, reserves, and excess funds. It's important to note that the specifics of a Kings New York PSA can vary depending on the particular transaction and the preferences of the parties involved. Different types of Pooling and Servicing Agreements contemplating the sale of mortgage loans to a trustee for inclusion in the Trust Fund may exist, but they would be specific to other regions, jurisdictions, or parties involved. Therefore, for the given context, no other specific types of Pooling and Servicing Agreements are named.