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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 2002-NC1; Freddie Mac; McGraw-Hill Companies Inc.; U.S. Bank, NA; Federal National Mortgage Association |
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Date: |
2003 |
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Size: |
Preview shows 5KB of 745KB total |
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Price: |
$99 |
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ID: |
#1480286 |
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ASSET BACKED FUNDING CORPORATION,
Depositor
OCWEN FEDERAL BANK FSB,
Servicer
and
U.S. BANK NATIONAL ASSOCIATION,
Trustee
POOLING AND SERVICING AGREEMENT
Dated as of July 1, 2002
ABFC 2002-NC1 Trust
ABFC Asset-Backed Certificates, Series 2002-NC1
================================================================================
<PAGE>
TABLE OF CONTENTS
ARTICLE I
DEFINITIONS
Section 1.01 Defined Terms..................................................
Section 1.02 Accounting.....................................................
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS;
ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01 Conveyance of Mortgage Loans...................................
Section 2.02 Acceptance by Trustee..........................................
Section 2.03 Repurchase or Substitution of Mortgage Loans by the Seller.....
Section 2.04 [Reserved].....................................................
Section 2.05 Representations, Warranties and Covenants of the Servicer......
Section 2.06 Representations and Warranties of the Depositor................
Section 2.07 Issuance of Certificates and the Uncertificated Regular
Interests....................................................
ARTICLE III
ADMINISTRATION AND SERVICING
OF THE TRUST FUND
Section 3.01 Servicer to Act as Servicer....................................
Section 3.02 Collection of Mortgage Loan Payments...........................
Section 3.03 Realization Upon Defaulted Mortgage Loans......................
Section 3.04 Collection Account and Distribution Account....................
Section 3.05 Permitted Withdrawals From the Collection Account..............
Section 3.06 Establishment of Escrow Accounts; Deposits in Escrow
Accounts.....................................................
Section 3.07 Permitted Withdrawals From Escrow Account......................
Section 3.08 Payment of Taxes, Insurance and Other Charges; Collections
Thereunder...................................................
Section 3.09 Transfer of Accounts...........................................
Section 3.10 Maintenance of Hazard Insurance................................
Section 3.11 Maintenance of Mortgage Impairment Insurance Policy............
Section 3.12 Fidelity Bond, Errors and Omissions Insurance..................
Section 3.13 Title, Management and Disposition of REO Property..............
Section 3.14 Due-on-Sale Clauses; Assumption and Substitution Agreements....
Section 3.15 Notification of Adjustments....................................
Section 3.16 Optional Purchases of Mortgage Loans by Servicer...............
Section 3.17 Trustee to Cooperate; Release of Files.........................
Section 3.18 Servicing Compensation.........................................
Section 3.19 Annual Statement as to Compliance..............................
Section 3.20 Annual Independent Certified Public Accountants' Reports.......
Section 3.21 Access to Certain Documentation and Information Regarding
the Mortgage Loans...........................................
Section 3.22 Duties of Credit Risk Manager..................................
Section 3.23 Obligations of the Servicer in Respect of Compensating
Interest.....................................................
Section 3.24 Obligations of the Servicer in Respect of Mortgage Interest
Rates and Monthly Payments...................................
Section 3.25 Investment of Funds in the Collection Account and the
Distribution Account.........................................
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