Maine Pooling and Servicing Agreement between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A. and Bank One

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Pooling and Servicing Agr. btwn Credit Suisse First Boston Mortgage Securities Corp., Wash. Mutual Bank F.A. and Bank One - National Association dated Nov. 1, 1999. 213 pages

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FAQ

You should be able to find your current servicer on your mortgage statement, either mailed to you or online. You can also contact your mortgage lender and ask where your loan was transferred. Another option is the Mortgage Electronic Registration System, or MERS.

In 2005, Select Portfolio Servicing was purchased by Credit Suisse, a financial services company, headquartered in Zurich, Switzerland.

A Pooling and Servicing Agreement. or PSA, is a legal document that contains all of the rights and responsibilities of a servicer, a trustee, and any others presiding over a pool of mortgage loans. PSAs can be standalone documents or they can be an addition to another document known as a prospectus.

The answer is fairly straightforward. Lenders typically sell loans for two reasons. The first is to free up capital that can be used to make loans to other borrowers. The other is to generate cash by selling the loan to another bank while retaining the right to service the loan.

The Pooling and Servicing Agreement can be a stand-alone document or it can be part of another paper, usually called the ?Prospectus.? If the securitization is public, these documents must be filed with the Securities and Exchange Commission (SEC), and will be available to the public at .sec.gov.

The transferee servicer shall provide the notice of transfer to the borrower not more than 15 days after the effective date of the transfer.

SPS is a mortgage servicer, which means we manage your account on behalf of the note holder.

Mortgages are typically transferred to SPS once they reach a delinquent status on their payments. Direct mortgage lenders tried to protect their brand against things like foreclosures so if a mortgage is more than 60 days past due it might be sold to SPS so that SPS can handle the remainder of the repayment.

What is a Loan Servicing Agreement? A loan servicing agreement is a legal agreement between a lender and a third party, the servicer, that outlines the terms and conditions for which that third party will provide loan servicing services.

Homeowners are often transferred to SPS once they become delinquent on their mortgage payments. Many lenders try to protect their brand when it comes to foreclosing on homeowners.

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Maine Pooling and Servicing Agreement between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A. and Bank One