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Transfer and Servicing Agreement

 

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Title:

Transfer and Servicing Agreement

Entities:

Fieldstone Mortgage Investment Corp; Freddie Mac; McGraw-Hill Companies Inc.; Federal National Mortgage Association; International Swaps & Derivatives Association, Inc.

Date:

2005

Size:

Preview shows 66KB of 609KB total

Price:

$99

ID:

#2495933

 

 

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FIELDSTONE MORTGAGE INVESTMENT TRUST, SERIES 2005-[], as Issuer

 

 

FIELDSTONE MORTGAGE INVESTMENT CORPORATION, as Depositor

 

 

[               ], as Trust Administrator and Master Servicer

 

 

FIELDSTONE SERVICING CORP., as Servicer

 

 

[               ], as Subservicer

 

 

FIELDSTONE INVESTMENT CORPORATION, as Seller

 

 

and

 

 

[               ], as Indenture Trustee

 

 


 

TRANSFER AND SERVICING AGREEMENT

 

Dated as of [               ], 2005

 


 

 

FIELDSTONE MORTGAGE INVESTMENT TRUST, SERIES 2005-[]
MORTGAGE-BACKED NOTES

 



 

TABLE OF CONTENTS

 

ARTICLE I DEFINITIONS

 

Section 1.01.

Definitions

 

Section 1.02.

Calculations With Respect to the Mortgage Loans

 

Section 1.03.

Calculations With Respect to Accrued Interest

 

 

 

 

ARTICLE II CONVEYANCE OF MORTGAGE LOANS

 

Section 2.01.

Creation and Declaration of Trust Estate; Conveyance of Initial Mortgage Loans

 

Section 2.02.

Acceptance of Trust Estate; Review of Documentation

 

Section 2.03.

Grant Clause

 

Section 2.04.

Subsequent Transfers

 

Section 2.05.

Option to Contribute Derivative Instrument

 

 

 

 

ARTICLE III REPRESENTATIONS AND WARRANTIES

 

Section 3.01.

Representations and Warranties of the Depositor and the Seller

 

Section 3.02.

Discovery of Breach

 

Section 3.03.

Repurchase, Purchase or Substitution of Mortgage Loans

 

 

 

 

ARTICLE IV ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS BY THE SERVICER

 

Section 4.01.

Sellers Engagement of Servicer to Perform Servicing Responsibilities

 

Section 4.02.

Servicing of the Mortgage Loans

 

Section 4.03.

Payments To the Master Servicer

 

Section 4.04.

General Servicing Procedures

 

Section 4.05.

Representations, Warranties and Agreements

 

Section 4.06.

The Servicer and the Subservicer

 

Section 4.07.

Termination for Cause

 

Section 4.08.

Successor to Servicer and Subservicer, Miscellaneous Provisions

 

Section 4.09.

Miscellaneous Servicing Provisions

 

 

 

 

ARTICLE V ADMINISTRATION AND MASTER SERVICING OF MORTGAGE LOANS BY THE MASTER SERVICER AND THE TRUST ADMINISTRATOR

 

 

 

Section 5.01.

Duties of the Master Servicer; Representations and Warranties

 

Section 5.02.

Master Servicer Fidelity Bond and Master Servicer Errors and Omissions Insurance Policy

 

Section 5.03.

Master Servicers Financial Statements and Related Information

 

Section 5.04.

Power to Act; Procedures

 

Section 5.05.

Enforcement of Servicers and Master Servicers Obligations

 

Section 5.06.

[Reserved]

 

Section 5.07.

Collection Account

 

Section 5.08.

Application of Funds in the Collection Account

 

 

i



 

Section 5.09.

Reports to Indenture Trustee and Noteholders

 

Section 5.10.

Termination of Servicer or Subservicer; Successor Servicers

 

Section 5.11.

Master Servicer Liable for Enforcement

 

Section 5.12.

Assumption of Master Servicing by Indenture Trustee

 

Section 5.13.

[Reserved]

 

Section 5.14.

Release of Mortgage Files

 

Section 5.15.

Documents, Records and Funds in Possession of Master Servicer To Be Held for Indenture Trustee

 

Section 5.16.

Opinion

 

Section 5.17.

[Reserved]

 

Section 5.18.

[Reserved]

 

Section 5.19.

[Reserved]

 

Section 5.20.

Indenture Trustee To Retain Possession of Certain Insurance Policies and Documents

 

Section 5.21.

Compensation to the Master Servicer

 

Section 5.22.

[Reserved]

 

Section 5.23.

Reports to the Indenture Trustee

 

Section 5.24.

Annual Officers Certificate as to Compliance

 

Section 5.25.

Annual Independent Accountants Servicing Report

 

Section 5.26.

Merger or Consolidation

 

Section 5.27.

Resignation of Master Servicer

 

Section 5.28.

Assignment or Delegation of Duties by the Master Servicer

 

Section 5.29.

Limitation on Liability of the Master Servicer and Others

 

Section 5.30.

Indemnification; Third-Party Claims

 

Section 5.31.

Alternative Index


 

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