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Document Preview Sale and Servicing Agreement |
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Title: |
Sale and Servicing Agreement |
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Entities: |
ACE Securities Corp. Home Equity Loan Trust, Series 2006-GP1; Deutsche Bank Securities Inc.; Financial Security Assurance Inc.; Freddie Mac; McGraw-Hill Companies Inc.; Federal National Mortgage Association; Thacher Proffitt & Wood |
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Date: |
2006 |
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Size: |
Preview shows 38KB of 463KB total |
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Price: |
$99 |
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ID: |
#2257418 |
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Start of Preview |
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SALE AND SERVICING AGREEMENT |
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Dated as of May 1, 2006 |
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ARTICLE I | |
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DEFINITIONS
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Section 1.01. |
Definitions |
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Section 1.02. |
Other Definitional Provisions.
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ARTICLE II | |
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CONVEYANCE OF HELOCS
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Section 2.01. |
Conveyance of HELOCs; Obligation to Fund Advances Under Credit Line Agreements. |
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Section 2.02. |
Acceptance of HELOCs by the Issuing Entity. |
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Section 2.03. |
Assignment of Interest in the HELOC Purchase Agreement |
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Section 2.04. |
Representations and Warranties Concerning the Servicer |
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Section 2.05. |
Representations and Warranties Regarding the Master Servicer |
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Section 2.06. |
Assignment of Agreement
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ARTICLE III | |
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ADMINISTRATION AND SERVICING OF HELOCS BY THE SERVICER
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Section 3.01. |
The Servicer. |
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Section 3.02. |
Subservicers. |
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Section 3.03. |
Due-on-Sale Clauses; Assumption Agreements. |
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Section 3.04. |
Documents, Records and Funds in Possession of the Servicer to Be Held for Trustee. |
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Section 3.05. |
Maintenance of Hazard Insurance. |
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Section 3.06. |
Maintenance of Mortgage Impairment Insurance Policy. |
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Section 3.07. |
Fidelity Bond, Errors and Omissions Insurance. |
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Section 3.08. |
Presentment of Claims and Collection of Proceeds. |
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Section 3.09. |
Maintenance of the Primary Mortgage Insurance Policies. |
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Section 3.10. |
Realization Upon Defaulted HELOCs; Determination of Excess Liquidation Proceeds and Realized Losses; Repurchases of Certain HELOCs. |
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Section 3.11. |
Servicing Compensation. |
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Section 3.12. |
Title, Management and Disposition of REO Property. |
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Section 3.13. |
Liquidation Reports. |
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Section 3.14. |
Obligations of the Servicer in Respect of Mortgage Rates and Monthly Payments. |
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Section 3.15. |
Annual Statement as to Compliance. |
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Section 3.16. |
Assessments of Compliance and Attestation Reports. |
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Section 3.17. |
Books and Records. |
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Section 3.18. |
Access to Certain Documentation. |
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Section 3.19. |
Indemnification. |
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Section 3.20. |
Indenture Trustee to Cooperate; Release of Loan Files.
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ARTICLE IV | |
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ADMINISTRATION AND MASTER SERVICING OF HELOCS
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Section 4.01. |
Master Servicer |
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Section 4.02. |
Monitoring of Servicer |
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Section 4.03. |
Fidelity Bond |
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Section 4.04. |
Power to Act; Procedures |
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Section 4.05. |
Due-on-Sale Clauses; Assumption Agreements |
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Section 4.06. |
Reserved |
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Section 4.07. |
Documents, Records and Funds in Possession of Master Servicer to Be Held for Issuing Entity and Indenture 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 the Insurance Policies. |
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Section 4.11. |
Indenture Trustee to Retain Possession of Certain Insurance Policies and Documents. |
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Section 4.12. |
Realization Upon Defaulted HELOCs |
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Section 4.13. |
Compensation for the Master Servicer, Securities Administrator and the Indenture Trustee. |
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Section 4.14. |
REO Property. |
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Section 4.15. |
Reports Filed with Securities and Exchange Commission. |
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Section 4.16. |
UCC |
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Section 4.17. |
Information Required by the Internal Revenue Service and Reports Regarding Mortgaged Property |
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Section 4.18. |
Intention of the Parties
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ARTICLE V | |
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ACCOUNTS
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Section 5.01. |
Collection of Taxes, Assessments and Similar Items; Servicing Accounts. |
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Section 5.02. |
Collection Account and Payment Account. |
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End of Preview |
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