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Document Preview Pooling and Servicing Agreement |
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Title: |
Pooling and Servicing Agreement |
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Entities: |
ACE Securities Corp. Home Equity Loan Trust, Series 2005-Asap1; Barclays Bank plc; Freddie Mac; McGraw-Hill Companies Inc.; National Westminster Bank plc; Wells Fargo Bank, NA; Federal National Mortgage Association; International Swaps & Derivatives Association, Inc. |
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Date: |
2005 |
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Size: |
Preview shows 32KB of 811KB total |
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Price: |
$99 |
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ID: |
#1478536 |
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Start of Preview |
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ACE SECURITIES CORP.
Depositor
OCWEN LOAN SERVICING, LLC
Servicer
WELLS FARGO BANK, NATIONAL ASSOCIATION
Master Servicer and Securities Administrator
HSBC BANK USA, NATIONAL ASSOCIATION
Trustee
POOLING AND SERVICING AGREEMENT
Dated as of October 1, 2005
ACE Securities Corp. Home Equity Loan Trust, Series 2005-ASAP1
Asset Backed Pass-Through Certificates
TABLE OF CONTENTS
ARTICLE I
DEFINITIONS
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SECTION 1.01. |
Defined Terms |
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SECTION 1.02. |
Allocation of Certain Interest Shortfalls | |
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
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SECTION 2.01. |
Conveyance of the Mortgage Loans |
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SECTION 2.02. |
Acceptance of REMIC I by Trustee |
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SECTION 2.03. |
Repurchase or Substitution of Mortgage Loans |
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SECTION 2.04. |
Representations and Warranties of the Master Servicer |
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SECTION 2.05. |
Representations, Warranties and Covenants of the Servicer |
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SECTION 2.06. |
Issuance of the REMIC I Regular Interests and the Class R-I Interest | ||||||
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SECTION 2.07. |
Conveyance of the REMIC I Regular Interests; Acceptance of |
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REMIC II and REMIC III by the Trustee
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SECTION 2.08. |
Issuance of Residual Certificates | |
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SECTION 2.09. |
Establishment of the Trust |
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ARTICLE III
ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS; ACCOUNTS
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SECTION 3.01. |
The Servicer to Act as Servicer |
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SECTION 3.02. |
Sub-Servicing Agreements Between the Servicer and Sub-Servicers | |||
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SECTION 3.03. |
Successor Sub-Servicers |
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SECTION 3.04. |
No Contractual Relationship Between Sub-Servicer, Trustee or the |
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Certificateholders
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SECTION 3.05. |
Assumption or Termination of Sub-Servicing Agreement by |
Successor Servicer
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SECTION 3.06. |
Collection of Certain Mortgage Loan Payments |
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SECTION 3.07. |
Collection of Taxes, Assessments and Similar Items; Servicing | |
Accounts
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SECTION 3.08. |
Collection Account and Distribution Account |
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SECTION 3.09. |
Withdrawals from the Collection Account and Distribution Account |
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SECTION 3.10. |
Investment of Funds in the Investment Accounts |
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SECTION 3.11. |
Maintenance of Hazard Insurance, Errors and Omissions and Fidelity | |||
Coverage and Primary Mortgage Insurance
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SECTION 3.12. |
Enforcement of Due-on-Sale Clauses; Assumption Agreements | ||
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SECTION 3.13. |
Realization Upon Defaulted Mortgage Loans |
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SECTION 3.14. |
Trustee to Cooperate; Release of Mortgage Files |
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SECTION 3.15. |
Servicing Compensation |
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SECTION 3.16. |
Collection Account Statements |
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SECTION 3.17. |
Statement as to Compliance |
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SECTION 3.18. |
Independent Public Accountants Servicing Report |
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SECTION 3.19. |
Annual Certification |
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SECTION 3.20. |
Access to Certain Documentation |
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SECTION 3.21. |
Title, Management and Disposition of REO Property | ||||||
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SECTION 3.22. |
Obligations of the Servicer in Respect of Prepayment Interest Shortfalls; Relief Act Interest Shortfalls |
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SECTION 3.23. |
Obligations of the Servicer in Respect of Mortgage Rates and |
Monthly Payments
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SECTION 3.24. |
Reserve Fund |
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SECTION 3.25. |
Advance Facility |
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SECTION 3.26. |
The Servicer Indemnification | ||
ARTICLE IV
ADMINISTRATION AND MASTER SERVICING OF THE MORTGAGE LOANS BY THE MASTER SERVICER
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SECTION 4.01. |
Master Servicer |
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SECTION 4.02. |
REMIC-Related Covenants |
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SECTION 4.03. |
Monitoring of Servicer |
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SECTION 4.04. |
Fidelity Bond |
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SECTION 4.05. |
Power to Act; Procedures |
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SECTION 4.06. |
Due-on-Sale Clauses; Assumption Agreements |
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SECTION 4.07. |
Documents, Records and Funds in Possession of Master Servicer To | ||||||
Be Held for Trustee
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SECTION 4.08. |
Standard Hazard Insurance and Flood Insurance Policies |
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SECTION 4.09. |
Presentment of Claims and Collection of Proceeds |
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SECTION 4.10. |
Maintenance of Primary Mortgage Insurance Policies |
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End of Preview |
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