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Document Preview Pooling and Servicing Agreement |
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Title: |
Pooling and Servicing Agreement |
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Entities: |
Abfc Asset-Backed Certificates, Series 2004-FF1; Freddie Mac; JPMorgan Chase Bank; McGraw-Hill Companies Inc.; Federal National Mortgage Association; Bank of America, NA |
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Date: |
2004 |
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Size: |
Preview shows 5KB of 2324KB total |
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Price: |
$99 |
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ID: |
#1480183 |
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ASSET BACKED FUNDING CORPORATION,
DEPOSITOR
COUNTRYWIDE HOME LOANS SERVICING LP,
SERVICER
AND
JPMORGAN CHASE BANK,
TRUSTEE
POOLING AND SERVICING AGREEMENT
DATED AS OF JULY 1, 2004
ABFC 2004-FF1 TRUST
ABFC ASSET-BACKED CERTIFICATES, SERIES 2004-FF1
================================================================================
<PAGE>
TABLE OF CONTENTS
<TABLE>
<CAPTION>
Page
----
<S> <C>
ARTICLE I
DEFINITIONS
Section 1.01 Defined Terms.................................................................................4
Section 1.02 Accounting...................................................................................51
Section 1.03 Rights of the NIMS Insurer...................................................................51
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01 Conveyance of Mortgage Loans.................................................................51
Section 2.02 Acceptance by Trustee........................................................................54
Section 2.03 Repurchase or Substitution of Mortgage Loans by the Originator or the Seller.................55
Section 2.04 Execution of Yield Maintenance Agreements....................................................58
Section 2.05 Representations, Warranties and Covenants of the Servicer....................................59
Section 2.06 Representations and Warranties of the Depositor..............................................61
Section 2.07 Issuance of Certificates and the Uncertificated Regular Interests............................62
ARTICLE III
ADMINISTRATION AND SERVICING OF THE TRUST FUND
Section 3.01 Servicer to Act as Servicer..................................................................63
Section 3.02 Collection of Mortgage Loan Payments.........................................................65
Section 3.03 Realization Upon Defaulted Mortgage Loans....................................................66
Section 3.04 Collection Accounts, Distribution Account and Reserve Accounts...............................67
Section 3.05 Permitted Withdrawals From the Collection Accounts...........................................71
Section 3.06 Establishment of Escrow Accounts; Deposits in Escrow Accounts................................72
Section 3.07 Permitted Withdrawals From Escrow Account....................................................73
Section 3.08 Payment of Taxes, Insurance and Other Charges; Collections Thereunder........................74
Section 3.09 Transfer of Accounts.........................................................................74
Section 3.10 Maintenance of Hazard Insurance..............................................................74
Section 3.11 Maintenance of Mortgage Impairment Insurance Policy..........................................75
Section 3.12 Fidelity Bond, Errors and Omissions Insurance................................................76
Section 3.13 Title, Management and Disposition of REO Property............................................76
Section 3.14 Due-on-Sale Clauses; Assumption and Substitution Agreements..................................78
Section 3.15 Notification of Adjustments..................................................................79
Section 3.16 Optional Purchases of Mortgage Loans by Servicer.............................................79
Section 3.17 Trustee to Cooperate; Release of Files.......................................................80
Section 3.18 Servicing Compensation.......................................................................81
Section 3.19 Annual Statement as to Compliance............................................................81
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