Tarrant Texas 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: Tarrant
• 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 The Tarrant Texas Pooling and Servicing Agreement is a legally binding contract that outlines the terms and conditions for the sale of mortgage loans to a Trustee for inclusion in a Trust Fund by a company. This agreement is designed to protect the rights and interests of all parties involved in the transaction. The primary purpose of the Tarrant Texas Pooling and Servicing Agreement is to ensure transparency, accountability, and proper handling of mortgage loans. It establishes guidelines for loan origination, servicing, and pooling processes, safeguarding the rights of both the borrowers and the investors. The agreement typically includes the following key provisions: 1. Loan Documentation: Details regarding the type of mortgage loans eligible for inclusion in the Trust Fund, along with specifications related to loan originations, underwriting criteria, and necessary documents. 2. Pooling of Loans: Clarifies the process of pooling mortgage loans and creating a Trust Fund, ensuring compliance with legal and regulatory requirements. 3. Trustee's Role and Responsibilities: Defines the duties, powers, and responsibilities of the Trustee, who acts as a fiduciary for the investors and manages the Trust Fund in accordance with the terms of the agreement. 4. Service's Obligations: Outlines the obligations and responsibilities of the loan service, who collects monthly mortgage payments, handles escrow accounts, processes loan modifications, and manages any delinquencies or defaults. 5. Cash Flows and Distributions: Sets guidelines for the distribution of cash flows generated by the mortgage loans, specifying how principal and interest payments are allocated to the investors. 6. Representations and Warranties: Addresses the representations and warranties made by the company regarding the quality, accuracy, and validity of the mortgage loans being sold. 7. Default and Remedies: Describes the procedures to be followed in the event of a default, including remedies available to the investors, the Trustee, and the service. It's worth noting that there might be variations or customized versions of the Tarrant Texas Pooling and Servicing Agreement, tailored to specific types of loans or contractual arrangements. However, without specific information about these variations, it is challenging to provide their names or details. So, the Tarrant Texas Pooling and Servicing Agreement serves as a comprehensive framework that governs the sale, pooling, and management of mortgage loans, safeguarding the interests of both borrowers and investors.

The Tarrant Texas Pooling and Servicing Agreement is a legally binding contract that outlines the terms and conditions for the sale of mortgage loans to a Trustee for inclusion in a Trust Fund by a company. This agreement is designed to protect the rights and interests of all parties involved in the transaction. The primary purpose of the Tarrant Texas Pooling and Servicing Agreement is to ensure transparency, accountability, and proper handling of mortgage loans. It establishes guidelines for loan origination, servicing, and pooling processes, safeguarding the rights of both the borrowers and the investors. The agreement typically includes the following key provisions: 1. Loan Documentation: Details regarding the type of mortgage loans eligible for inclusion in the Trust Fund, along with specifications related to loan originations, underwriting criteria, and necessary documents. 2. Pooling of Loans: Clarifies the process of pooling mortgage loans and creating a Trust Fund, ensuring compliance with legal and regulatory requirements. 3. Trustee's Role and Responsibilities: Defines the duties, powers, and responsibilities of the Trustee, who acts as a fiduciary for the investors and manages the Trust Fund in accordance with the terms of the agreement. 4. Service's Obligations: Outlines the obligations and responsibilities of the loan service, who collects monthly mortgage payments, handles escrow accounts, processes loan modifications, and manages any delinquencies or defaults. 5. Cash Flows and Distributions: Sets guidelines for the distribution of cash flows generated by the mortgage loans, specifying how principal and interest payments are allocated to the investors. 6. Representations and Warranties: Addresses the representations and warranties made by the company regarding the quality, accuracy, and validity of the mortgage loans being sold. 7. Default and Remedies: Describes the procedures to be followed in the event of a default, including remedies available to the investors, the Trustee, and the service. It's worth noting that there might be variations or customized versions of the Tarrant Texas Pooling and Servicing Agreement, tailored to specific types of loans or contractual arrangements. However, without specific information about these variations, it is challenging to provide their names or details. So, the Tarrant Texas Pooling and Servicing Agreement serves as a comprehensive framework that governs the sale, pooling, and management of mortgage loans, safeguarding the interests of both borrowers and investors.