ACE SECURITIES CORP.
Depositor
OCWEN LOAN SERVICING, LLC
a Servicer
WELLS FARGO BANK, NATIONAL ASSOCIATION
a Servicer
WELLS FARGO BANK, NATIONAL ASSOCIATION
Master Servicer and Securities Administrator
HSBC BANK USA, NATIONAL ASSOCIATION
Trustee
POOLING AND SERVICING AGREEMENT
Dated as of February 28, 2006
ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD1
Asset Backed Pass-Through Certificates
TABLE OF CONTENTS
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 Ocwen and Wells Fargo.
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 I by the Trustee.
SECTION 2.08 Issuance of the Residual Certificates.
SECTION 2.09 Establishment of the Trust.
SECTION 2.10 Purpose and Powers of the Trust.
|
ARTICLE III |
ADMINISTRATION AND SERVICING OF THE OCWEN MORTGAGE LOANS AND WELLS FARGO MORTGAGE LOANS; ACCOUNTS |
SECTION 3.01 Ocwen and Wells Fargo to Act as a Servicer.
SECTION 3.02 Sub-Servicing Agreement Between Each Servicer and Sub-Servicers.
SECTION 3.03 Successor Sub-Servicers.
SECTION 3.04 No Contractual Relationship Between Sub-Servicer, Subcontractor, 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, Simple Interest Excess Sub-Account 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 Annual Statement as to Compliance.
SECTION 3.18 Assessments of Compliance and Attestation Reports.
SECTION 3.19 Annual Certification; Additional Information.
SECTION 3.20 Access to Certain Documentation.
SECTION 3.21 Title, Management and Disposition of REO Property.
SECTION 3.22 Obligations of Each Servicer in Respect of Prepayment Interest Shortfalls; Relief Act Interest Shortfalls.
SECTION 3.23 Obligations of Each Servicer in Respect of Mortgage Rates and Monthly Payments.
SECTION 3.24 Reserve Fund.
SECTION 3.25 Advance Facility.
SECTION 3.26 The Servicer?s Indemnification Obligation.
|
ARTICLE IV |
ADMINISTRATION AND MASTER SERVICING OF THE MORTGAGE LOANS BY THE MASTER SERVICER |
SECTION 4.01 Master Servicer.
SECTION 4.02 REMIC-Related Covenants.
SECTION 4.03 Monitoring of the Servicers.
SECTION 4.04 Fidelity Bond.
SECTION 4.05 Power to Act; Procedures.
SECTION 4.06 Due-on-Sale Clauses; Assumption Agreements.
SECTION 4.07 Documents, Records and Funds in Possession of Master Servicer To Be Held for Trustee.
Home
Intelligence
Services
Subscriptions
News
About Us
Contact Us
Terms of Use
Resend Documents
Shopping Cart
Copyright © 2008 The Consus Group LLC