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Document Preview Pooling and Servicing Agreement |
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Title: |
Pooling and Servicing Agreement |
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Entities: |
Banc of America Securities LLC; C-Bass 2006-CB6 Trust; Cede & Co.; Freddie Mac; JPMorgan Chase Bank; McGraw-Hill Companies Inc.; U.S. Bank, NA; Federal National Mortgage Association; International Swaps & Derivatives Association, Inc.; Goldman, Sachs & Co. |
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Date: |
2006 |
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Size: |
Preview shows 5KB of 2979KB total |
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Price: |
$99 |
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ID: |
#2409248 |
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Start of Preview |
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ASSET BACKED FUNDING CORPORATION,
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 July 1, 2006
2006-CB6 Trust
C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB6
================================================================================
{PAGE}
TABLE OF CONTENTS
Page
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ARTICLE I
DEFINITIONS
Section 1.01. Defined Terms............................................. 10
Section 1.02. Accounting................................................ 66
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01. Conveyance of Mortgage Loans.............................. 66
Section 2.02. Acceptance by Trustee..................................... 69
Section 2.03. Repurchase or Substitution of Mortgage Loans by the
Seller.................................................... 71
Section 2.04. Representations and Warranties of the Seller with Respect
to the Mortgage Loans..................................... 73
Section 2.05. Representations, Warranties and Covenants of the
Servicer.................................................. 74
Section 2.06. Representations and Warranties of the Depositor........... 76
Section 2.07. Issuance of Certificates and the Uncertificated Regular
Interests................................................. 78
Section 2.08. Representations and Warranties of the Seller.............. 79
Section 2.09. Covenants of the Seller................................... 81
ARTICLE III
ADMINISTRATION AND SERVICING OF THE TRUST FUND
Section 3.01. Servicer to Act as Servicer............................... 81
Section 3.02. Collection of Mortgage Loan Payments...................... 83
Section 3.03. Realization Upon Defaulted Mortgage Loans................. 83
Section 3.04. Collection Account, Distribution Account and Cap Carryover
Reserve Account........................................... 85
Section 3.05. Permitted Withdrawals From the Collection Account......... 87
Section 3.06. Establishment of Escrow Account; Deposits in Escrow
Account................................................... 88
Section 3.07. Permitted Withdrawals From Escrow Account................. 89
Section 3.08. Payment of Taxes, Insurance and Other Charges; Collections
Thereunder................................................ 89
Section 3.09. Transfer of Accounts...................................... 90
Section 3.10. Maintenance of Hazard Insurance........................... 91
Section 3.11. Maintenance of Mortgage Impairment Insurance Policy....... 91
Section 3.12. Fidelity Bond, Errors and Omissions Insurance............. 92
Section 3.13. Title, Management and Disposition of REO Property and
Certain Delinquent Mortgage Loans......................... 92
Section 3.14. Due-on-Sale Clauses; Assumption and Substitution
Agreements................................................ 94
Section 3.15. Notification of Adjustments............................... 95
Section 3.16. Optional Purchases and Sales of Mortgage Loans by
Servicer.................................................. 96
Section 3.17. Trustee to Cooperate; Release of Files.................... 96
Section 3.18. Servicing Compensation.................................... 97
Section 3.19. Annual Statement as to Compliance......................... 98
i
{PAGE}
Section 3.20. Assessment of Compliance with Servicing Criteria;
Independent Public Accountants' Attestation............... 98
Section 3.21. Access to Certain Documentation and Information Regarding
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