Indiana Pooling and Servicing Agreement is a legal contract that outlines the terms and conditions between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. It is specifically designed for pooling and servicing mortgage loans within the state of Indiana. This agreement governs the relationship and obligations of the parties involved in managing the mortgage loans. Key terms within the Indiana Pooling and Servicing Agreement include loan servicing, loan payment collections, the distribution of payments, reporting requirements, indemnification, default procedures, and termination provisions. The agreement ensures transparency, compliance, and smooth operations in managing the mortgage loans. Types of Indiana Pooling and Servicing Agreement between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. May include: 1. Standard Indiana Pooling and Servicing Agreement: This is the primary agreement which covers the general terms and conditions for pooling and servicing mortgage loans in Indiana. It outlines the responsibilities and rights of each party involved and is customized to meet the specific requirements of the parties. 2. Multiple Pooling and Servicing Agreement: In cases where there are multiple mortgage loan portfolios being serviced simultaneously, this type of agreement might be used. It enables IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. To manage different mortgage portfolios under separate terms and conditions. 3. Amended and Restated Pooling and Servicing Agreement: This agreement is utilized when there is a need to modify or update the original Indiana Pooling and Servicing Agreement. It outlines the changes made to the initial agreement, ensuring that all parties are aware and in agreement with the modifications. 4. Extension Indiana Pooling and Servicing Agreement: When the initial agreement term is set to expire, an extension agreement is implemented to extend the contract period. This type of agreement ensures continuity in the management of the mortgage loans without any interruption. The Indiana Pooling and Servicing Agreement between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. Serves as a comprehensive legal document that safeguards the interests of all parties involved and ensures efficient management of mortgage loans in the state of Indiana.
Indiana Pooling and Servicing Agreement between IMPAC Secured Assets Corp., IMAC Funding Corp. and Northwest Bank Minnesota, National Assoc.
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What is a Pooling Agreement? A pooling agreement is a type of contract where corporate shareholders create a voting trust by pooling their voting rights and transferring them to a trustee. This is also called a voting agreement or shareholder-control agreement since it is used to control the affairs of the corporation. Pooling Agreement: Definition & Sample - Contracts Counsel contractscounsel.com ? pooling-agreement contractscounsel.com ? pooling-agreement
A mortgage pool is a group of home and other real estate loans that have been bundled so they can be sold. A mortgage pool is a group of home and other real estate loans that have been bundled so they can be sold. What Is a Mortgage Pool? - The Balance thebalancemoney.com ? what-is-a-mortgage... thebalancemoney.com ? what-is-a-mortgage...
An MBS is made up of a pool of mortgages purchased from issuing banks and then sold to investors. An MBS allows investors to benefit from the mortgage business without needing to buy or sell home loans themselves. What Are Mortgage-Backed Securities? rocketmortgage.com ? learn ? mortgage-bac... rocketmortgage.com ? learn ? mortgage-bac...
The ?Pooling and Servicing Agreement? is the legal document that contains the responsibilities and rights of the servicer, the trustee, and others over a pool of mortgage loans.
PSA is used primarily to derive an implied prepayment speed of new production loans. 00% PSA assumes a prepayment rate of 2% per month in the first month following the date of issue, increasing at 2% percentage points per month thereafter until the 30th month. PSA Prepayment Rate Definition - Nasdaq nasdaq.com ? glossary ? psa-prepayment-rate nasdaq.com ? glossary ? psa-prepayment-rate