Pooling and Servicing Agreement for Asset Backed Securities Corporation
TL;DR
This Pooling and Servicing Agreement, dated July 1, 2004, involves Asset Backed Securities Corporation and other parties. It details the pooling of mortgage loans, servicing terms, and issuance of certificates, including REMIC designation and loan repurchase provisions.
Pool & Servicing Agreement dated July 1, 2004 between Asset Backed Securities Corporation, DLJ Mortgage Capital, Inc., Saxon Mortgage Services, Inc., and U.S. Bank National Association. The agreement outlines terms for the pooling of mortgage loans, servicing of the loans, and issuance of certificates. The parties agree to allocate certain interest shortfalls, designate interests in a REMIC, and accept the REMIC by the trustee. Repurchase or substitution of mortgage loans is also covered.