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Title: |
Pooling and Servicing Agreement |
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Date: |
2007 |
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Preview shows 5KB of 1154KB total |
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$99 |
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ID: |
#3238949 |
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ASSET BACKED FUNDING CORPORATION,
as Depositor
SAXON MORTGAGE SERVICES, INC.,
as Servicer
WELLS FARGO BANK, N.A.,
as Master Servicer and as Securities Administrator
and
U.S. BANK NATIONAL ASSOCIATION,
as Trustee
POOLING AND SERVICING AGREEMENT
Dated as of October 1, 2007
ABFC 2007-WMC1 Trust
Asset Backed Funding Corporation Asset Backed Certificates, Series 2007-WMC1
==============================================================================
{PAGE}
TABLE OF CONTENTS
Page
ARTICLE I DEFINITIONS...........................................................
Section 1.01. Defined Terms....................................................
Section 1.02. Accounting.......................................................
Section 1.03. Rights of the NIMS Insurer.......................................
Section 1.04. Fiscal Year......................................................
ARTICLE II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES......
Section 2.01. Conveyance of Mortgage Loans.....................................
Section 2.02. Acceptance by Trustee or Custodian...............................
Section 2.03. Repurchase or Substitution of Mortgage Loans by the
Originator or the Seller.........................................
Section 2.04. [Reserved].......................................................
Section 2.05. Representations, Warranties and Covenants of the Servicer........
Section 2.06. Representations and Warranties of the Master Servicer............
Section 2.07. Representations and Warranties of the Depositor..................
Section 2.08. Issuance of Certificates and the REMIC Regular Interests.........
ARTICLE III ADMINISTRATION, MASTER SERVICING AND SERVICING OF THE TRUST
FUND................................................................
Section 3.01. Master Servicing and Servicing of the Mortgage Loans.............
Section 3.02. Rights of the Depositor, the Securities Administrator and
the Trustee in Respect of the Master Servicer....................
Section 3.03. Trustee to Act as Master Servicer................................
Section 3.04. Collection of Mortgage Loan Payments.............................
Section 3.05. Realization Upon Defaulted Mortgage Loans........................
Section 3.06. Collection Account and Distribution Account......................
Section 3.07. Permitted Withdrawals From the Collection Account and the
Distribution Account.............................................
Section 3.08. Establishment of Escrow Accounts; Deposits in Escrow Accounts....
Section 3.09. Permitted Withdrawals From Escrow Accounts.......................
Section 3.10. Payment of Taxes, Insurance and Other Charges; Collections
Thereunder.......................................................
Section 3.11. Transfer of Accounts.............................................
Section 3.12. Maintenance of Hazard Insurance..................................
Section 3.13. Maintenance of Mortgage Impairment Insurance Policy..............
Section 3.14. Fidelity Bond, Errors and Omissions Insurance....................
Section 3.15. Title, Management and Disposition of REO Property................
Section 3.16. Due on Sale Clauses; Assumption and Substitution Agreements......
Section 3.17. Notification of Adjustments......................................
Section 3.18. Subservicing; Enforcement of the Obligations of the Servicer.....
Section 3.19. Trustee to Cooperate; Release of Files...........................
Section 3.20. Master Servicing Compensation; Servicing Compensation............
Section 3.21. Annual Statement as to Compliance................................
Section 3.22. Assessments of Compliance; Attestation Reports...................
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