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Title: |
Pooling and Servicing Agreement |
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Entities: |
ACE Securities Corp. Home Equity Loan Trust, Series 2005-HE7; Barclays Bank plc; Freddie Mac; McGraw-Hill Companies Inc.; National Westminster Bank plc; Wells Fargo Bank, NA; Federal National Mortgage Association |
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Date: |
2006 |
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Size: |
Preview shows 5KB of 1034KB total |
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Price: |
$99 |
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ID: |
#1478507 |
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<SEQUENCE>2
<FILENAME>d400733_exh4-1.txt
<DESCRIPTION>POOLING AND SERVICING AGREEMENT
<TEXT>
--------------------------------------------------------------------------------
ACE SECURITIES CORP.
Depositor
WELLS FARGO BANK, N.A.
a Servicer
WELLS FARGO BANK, N.A.
Master Servicer and Securities Administrator
HSBC BANK USA, NATIONAL ASSOCIATION
Trustee
POOLING AND SERVICING AGREEMENT
Dated as of November 1, 2005
ACE Securities Corp. Home Equity Loan Trust, Series 2005-HE7
Asset Backed Pass-Through Certificates
--------------------------------------------------------------------------------
<PAGE>
<TABLE>
<CAPTION>
TABLE OF CONTENTS
<S> <C>
ARTICLE I DEFINITIONS..................................................................................
SECTION 1.01. Defined Terms.......................................................................
SECTION 1.02. Allocation of Certain Interest Shortfalls...........................................
ARTICLE II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES..............................
SECTION 2.01. Conveyance of the Mortgage Loans....................................................
SECTION 2.02. Acceptance of REMIC I by Trustee....................................................
SECTION 2.03. Repurchase or Substitution of Mortgage Loans........................................
SECTION 2.04. Representations and Warranties of the Master Servicer...............................
SECTION 2.05. Representations, Warranties and Covenants of each Servicer..........................
SECTION 2.06. Issuance of the REMIC I Regular Interests and the Class R-I Interest................
SECTION 2.07. Conveyance of the REMIC I Regular Interests; Acceptance of REMIC II and REMIC
III by the Trustee..................................................................
SECTION 2.08. Issuance of Residual Certificates...................................................
SECTION 2.09. Establishment of the Trust..........................................................
ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS; ACCOUNTS.................................
SECTION 3.01. The Servicers to Act as Servicers...................................................
SECTION 3.02. Sub-Servicing Agreements Between a Servicer and Sub-Servicers.......................
SECTION 3.03. Successor Sub-Servicers.............................................................
SECTION 3.04. No Contractual Relationship Between Sub-Servicer, Trustee or the
Certificateholders..................................................................
SECTION 3.05. Assumption or Termination of Sub-Servicing Agreement by Successor Servicer..........
SECTION 3.06. Collection of Certain Mortgage Loan Payments........................................
SECTION 3.07. Collection of Taxes, Assessments and Similar Items; Servicing Accounts..............
SECTION 3.08. Collection Accounts and Distribution Account........................................
SECTION 3.09. Withdrawals from the Collection Accounts and Distribution Account...................
SECTION 3.10. Investment of Funds in the Investment Accounts......................................
SECTION 3.11. Maintenance of Hazard Insurance, Errors and Omissions and Fidelity Coverage and
Primary Mortgage Insurance..........................................................
SECTION 3.12. Enforcement of Due-on-Sale Clauses; Assumption Agreements...........................
SECTION 3.13. Realization Upon Defaulted Mortgage Loans...........................................
SECTION 3.14. Trustee to Cooperate; Release of Mortgage Files.....................................
SECTION 3.15. Servicing Compensation..............................................................
SECTION 3.16. Collection Account Statements.......................................................
SECTION 3.17. Statement as to Compliance..........................................................
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