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Sale and Servicing Agreement

Sale and Servicing Agreement 2025

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The Sale and Servicing Agreement, dated December 1, 1999, outlines the roles and responsibilities of various parties involved in the sale and servicing of mortgage loans. Key participants include Prudential Securities Secured Financing Corporation as the Depositor, ABFS Mortgage Loan Trust 1999-4 as the Issuer, American Business Credit, Inc. as the Servicer, Chase Bank of Texas as the Collateral Agent, and The Bank of New York as the Indenture Trustee. The document details definitions, sale and conveyance processes for mortgage loans, representations and warranties from each party, administration and servicing duties of the Servicer, application of funds, events of default for the Servicer, termination conditions for the agreement, and miscellaneous provisions including governing law. It emphasizes compliance with applicable laws and outlines procedures for handling defaults and other operational aspects.

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Click 'Get Form' to open the Sale and Servicing Agreement in our platform's editor.
Begin by filling out the 'Definitions' section. Ensure you understand the specific terms defined, as they will guide your understanding of the entire document.
Proceed to 'Sale and Conveyance of the Mortgage Loans'. Here, input details regarding the initial mortgage loans being sold, including purchase price and delivery of documents.
In 'Representations and Warranties', provide accurate representations from all parties involved. This section is crucial for establishing trust and legal standing.
Complete the 'Administration and Servicing of the Mortgage Loans' section. Detail how payments will be collected and managed, ensuring compliance with accepted practices.
Review all sections for accuracy. Utilize our platform's tools to highlight any areas that may need further clarification or adjustment before finalizing.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the difference between a service agreement and an SLA?

Governing area: An MSA is an umbrella that covers the entire client-vendor relationship. It establishes the overarching principles governing all interactions, projects, and services provided by the vendor throughout the partnership. In contrast, an SLA zooms in on a specific service within that relationship.

What is a sales and service contract?

A sales and service agreement, most commonly used in auto sales, is a contract between a buyer and dealer that defines the terms of the business relationship. As its name suggests, this agreement contains details about the sale such as the buying price, interest rate, and delivery date.

Can I write my own purchase and sale agreement?

Mortgage servicing rights are sold by the mortgage originator to another financial institution, which then takes over the administration of the mortgage, including tasks such as collecting payments and forwarding them to the originator. The original lender pays the servicer a fee for performing this work.

What is a servicing agreement?

Servicing Agreement means a contract outlining the responsibilities of a servicer in managing financial assets, including the collection of payments, administration, and any required reporting.

What is a sale and servicing agreement?

Some states, like California, have created real estate purchase agreements you can download and change. You can also get a template from docHub, as well as benefiting from real estate contract management software functionality.

What is the purpose of a service agreement?

A service agreement is a contract that outlines the terms and conditions governing the provision of services between a service provider and a client. It serves to clearly define expectations, protect both parties interests, and provide a framework for a successful working relationship.

Sale and Servicing Agreement 2025

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