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Pooling and Servicing Agreement

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Title:

Pooling and Servicing Agreement

Entities:

Coloured

Date:

2007

Size:

8KB total

Price:

$37

ID:

#2863310

► Services ► Servicing ► Pooling & Servicing Agreements

Start of Preview

OPTION ONE MORTGAGE ACCEPTANCE CORPORATION,

Depositor

OPTION ONE MORTGAGE CORPORATION,

Servicer

and

WELLS FARGO BANK, N.A.,

Trustee

POOLING AND SERVICING AGREEMENT

Dated as of April 1, 2007

___________________________

Option One Mortgage Loan Trust 2007-4

Asset-Backed Certificates, Series 2007-4

Table of Contents

ARTICLE I

DEFINITIONS

SECTION 1.01.

Defined Terms.

SECTION 1.02.

Accounting.

SECTION 1.03.

Allocation of Certain Interest Shortfalls.

SECTION 1.04.

Rights of the NIMS Insurer.

ARTICLE II

CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES

SECTION 2.01.

Conveyance of Mortgage Loans.

SECTION 2.02.

Acceptance by Trustee.

SECTION 2.03.

Repurchase or Substitution of Mortgage Loans by the Originator or Responsible Party.

SECTION 2.04.

Intentionally Omitted.

SECTION 2.05.

Representations, Warranties and Covenants of the Servicer.

SECTION 2.06.

Representations and Warranties of the Depositor.

SECTION 2.07.

Issuance of Certificates.

SECTION 2.08.

Authorization to Enter into Interest Rate Swap Agreement.

SECTION 2.09.

Conveyance of REMIC Regular Interests and Acceptance of REMIC 2, REMIC 3, REMIC 4, REMIC 5 and REMIC 6 by the Trustee; Issuance of Certificates.

SECTION 2.10.

Negative Covenants of the Trustee and the Servicer.

ARTICLE III

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS

SECTION 3.01.

Servicer to Act as Servicer.

SECTION 3.02.

Sub-Servicing Agreements Between Servicer and Sub-Servicers.

SECTION 3.03.

Successor Sub-Servicers.

SECTION 3.04.

Liability of the Servicer.

SECTION 3.05.

No Contractual Relationship Between Sub-Servicers and the NIMS Insurer, the Trustee or Certificateholders.

SECTION 3.06.

Assumption or Termination of Sub-Servicing Agreements by Trustee.

SECTION 3.07.

Collection of Certain Mortgage Loan Payments.

SECTION 3.08.

Sub-Servicing Accounts.

SECTION 3.09.

Collection of Taxes, Assessments and Similar Items; Servicing Accounts.

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