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Pooling and Servicing Agreement

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Title:

Pooling and Servicing Agreement

Entities:

Option One Mortgage Loan Trust 2007-4

Date:

2007

Size:

Preview shows 41KB of 1137KB total

Price:

$99

ID:

#2879150

► Services ► Servicing ► Pooling & Servicing Agreements

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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.

SECTION 3.10.

Collection Account and Distribution Account.

SECTION 3.11.

Withdrawals from the Collection Account and Distribution Account.

SECTION 3.12.

Investment of Funds in the Collection Account and the Distribution Account.

SECTION 3.13.

Rights of the Class C Certificateholder.

SECTION 3.14.

Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage.

SECTION 3.15.

Enforcement of Due-On-Sale Clauses; Assumption Agreements.

SECTION 3.16.

Realization Upon Defaulted Mortgage Loans.

SECTION 3.17.

Trustee to Cooperate; Release of Mortgage Files.

SECTION 3.18.

Servicing Compensation.

SECTION 3.19.

Reports to the Trustee; Collection Account Statements.

SECTION 3.20.

Statement as to Compliance.

SECTION 3.21.

Assessment of Compliance and Attestation Report.

SECTION 3.22.

Access to Certain Documentation.

SECTION 3.23.

Title, Management and Disposition of REO Property.

SECTION 3.24.

Obligations of the Servicer in Respect of Prepayment Interest Shortfalls.

SECTION 3.25.

Reports Filed with Securities and Exchange Commission.

SECTION 3.26.

Obligations of the Servicer in Respect of Mortgage Rates and Monthly Payments.

SECTION 3.27.

Solicitations.

SECTION 3.28.

[Reserved].

SECTION 3.29.

Advancing Facility.

ARTICLE IV

FLOW OF FUNDS

SECTION 4.01.

Distributions.

SECTION 4.02.

[Reserved].

SECTION 4.03.

Statements.

SECTION 4.04.

Remittance Reports; Advances.

SECTION 4.05.

Net WAC Rate Carryover Reserve Account.

SECTION 4.06.

End of Preview

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