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hi everybody my name is Christopher rocky Im the director of education of mortgage resolution services a subsidiary of FF our nations largest real estate provider today were going to be talking about the pooling in service agreement now I know a lot of you havent heard about what a pooling and service agreement it is or how that in any way could dictate the terms of how the short sale is going to go so lets talk about the pulling and service agreement and why thats relevant to you first of all remember when youre signing loan documents between 2002 and two thousand seven and a half especially there is a disclosure that says all loans will be sold into the secondary market oftentimes as a mortgage-backed security otherwise known as a CVO or a collateralized debt obligation now why thats relevant is because when we are selling these mortgage-backed securities on Wall Street and we have these investors coming in and buying these the terms of that investor are dictated through a