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Document Preview Pooling and Servicing Agreement |
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Title: |
Pooling and Servicing Agreement |
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Entities: |
C-Bass 2006-CB2 Trust; Cede & Co.; Freddie Mac; McGraw-Hill Companies Inc.; U.S. Bank, NA; Federal National Mortgage Association; Bank of New York |
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Date: |
2006 |
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Size: |
Preview shows 5KB of 990KB total |
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Price: |
$99 |
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ID: |
#1780991 |
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BOND SECURITIZATION, L.L.C.,
Depositor
CREDIT-BASED ASSET SERVICING AND SECURITIZATION LLC,
Seller
LITTON LOAN SERVICING LP,
Servicer
and
U.S. BANK NATIONAL ASSOCIATION,
Trustee
POOLING AND SERVICING AGREEMENT
Dated as of February 1, 2006
C-BASS 2006-CB2 Trust
C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2
==============================================================================
{PAGE}
{TABLE}
{CAPTION}
TABLE OF CONTENTS
Page
----
{S} {C}
ARTICLE I DEFINITIONS.............................................................................................9
Section 1.01 Defined Terms.................................................................................9
Section 1.02 Accounting...................................................................................52
ARTICLE II CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES..........................................52
Section 2.01 Conveyance of Mortgage Loans.................................................................52
Section 2.02 Acceptance by Trustee of the Mortgage Loans..................................................54
Section 2.03 Repurchase or Substitution of Mortgage Loans by the Seller...................................56
Section 2.04 Representations and Warranties of the Seller with Respect to the Mortgage Loans..............59
Section 2.05 Representations, Warranties and Covenants of the Servicer....................................60
Section 2.06 Representations and Warranties of the Seller.................................................62
Section 2.07 Covenants of the Seller......................................................................64
Section 2.08 Execution and Delivery of Certificates.......................................................64
Section 2.09 Representations and Warranties of the Depositor..............................................65
ARTICLE III ADMINISTRATION AND SERVICING OF MORTGAGE LOANS.......................................................67
Section 3.01 Servicer to Service the Mortgage Loans.......................................................67
Section 3.02 Subservicing Agreements between the Servicer and Subservicers................................69
Section 3.03 Successor Subservicers.......................................................................71
Section 3.04 Liability of the Servicer....................................................................72
Section 3.05 No Contractual Relationship between Subservicers and the Trustee.............................73
Section 3.06 Assumption or Termination of Subservicing Agreements by Trustee..............................73
Section 3.07 Collection of Mortgage Loan Payments.........................................................73
Section 3.08 Subservicing Accounts........................................................................74
Section 3.09 Collection Account, Distribution Account and Final Maturity Reserve Fund.....................74
Section 3.10 Permitted Withdrawals From the Collection Account and the Final Maturity Reserve Fund........77
Section 3.11 Establishment of Escrow Accounts; Deposits in Escrow Account.................................78
Section 3.12 Permitted Withdrawals From Escrow Account....................................................78
Section 3.13 Payment of Taxes, Insurance and Other Charges; Collections Thereunder........................79
Section 3.14 Investment of Funds in the Collection Account and Distribution Account.......................80
Section 3.15 Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage...............81
Section 3.16 Enforcement of Due-On-Sale Clauses; Assumption Agreements....................................82
Section 3.17 Realization upon Defaulted Mortgage Loans....................................................83
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