Michigan Pooling and Servicing Agreement between Credit Suisse First Boston Mortgage Securities Corp., Washington Mutual Bank F.A. and Bank One
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FAQ
Know your rights under the law You have a 60-day grace period after a transfer to a new servicer.
The transferee servicer shall provide the notice of transfer to the borrower not more than 15 days after the effective date of the transfer.
The servicing of your mortgage loan is being transferred, effective [Date]. This means that after this date, a new servicer will be collecting your mortgage loan payments from you. Nothing else about your mortgage loan will change.
A mortgage servicing disclosure provides information from the lender about whether or not the servicing of the loan may be transferred, sold, or assigned to some other person or entity during the life of the loan.
NOTE: Another way to find a PSA is to go to the SEC EDGAR search index page: .
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.
Opens in a new tab. opens in a new tab. Servicing Agreements. Introduction. A Servicing Agreement (or Loan Servicing Agreement) is a document entered into in connection with a facility established for the securitization of various types of assets, most often loans, receivables or leases.
