Maine Pooling and Servicing Agreement (PSA) is a legal contract that governs the rights and responsibilities of three entities: IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. This agreement outlines the terms and conditions for pooling mortgage loans and establishing a servicing framework for the pooled loans. In a typical Maine PSA, IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc., act as the parties involved. The primary purpose of this agreement is to facilitate the securitization of mortgage loans, which involves bundling multiple loans together and creating mortgage-backed securities (MBS). The MBS can then be sold to investors in the secondary market. Keywords: Maine Pooling and Servicing Agreement, IMPACT Secured Assets Corp., iMac Funding Corp., Northwest Bank Minnesota, securitization, mortgage loans, servicing framework, mortgage-backed securities, MBS, secondary market. There might be different types or variations of Maine PSA between the mentioned entities, depending on the specific terms and conditions agreed upon. These variations could include adjustments to the pooling criteria, servicing responsibilities, prepayment terms, fees, and other provisions tailored to suit the parties' needs. For example, a "Maine PSA with Adjustable Rate Mortgages" might be specifically designed for pooling and servicing mortgage loans with adjustable interest rates. This type of agreement would have additional clauses and provisions related to rate adjustments, index-based calculations, and borrower notification requirements. Alternatively, a "Maine PSA with Non-Traditional Loans" could address the pooling and servicing of loans with unique characteristics, such as interest-only loans or loans with balloon payments. In such cases, the agreement would outline specific guidelines for handling these types of loans, including payment calculations, disclosure requirements, and servicing obligations. Overall, the Maine Pooling and Servicing Agreement serves as the foundation for the securitization process and provides a legally binding framework for the cooperation and coordination between IMPACT Secured Assets Corp., iMac Funding Corp., and Northwest Bank Minnesota, National Assoc. In managing and servicing the pooled mortgage loans.
Maine Pooling and Servicing Agreement between IMPAC Secured Assets Corp., IMAC Funding Corp. and Northwest Bank Minnesota, National Assoc.
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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. Finding Pooling And Servicing Agreements (PSA's) For Securitized ... ohio.gov ? foreclosure ? PSA ohio.gov ? foreclosure ? PSA
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
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...
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
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...