Common Contracts
2 similar Pool Advance Agreement contracts
POOL ADVANCE AGREEMENTPool Advance Agreement • August 13th, 2013
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POOL ADVANCE AGREEMENTPool Advance Agreement • August 7th, 2013
Purpose: To provide a form of agreement that may be used to cover shortfalls in P&I funds necessary to pay securities holders. Sets forth the obligation of the bank to advance any amount necessary to cover such shortfall up to a specified maximum. If the issuer uses a disbursement account separate from the pool(s) P&I custodial account, Ginnie Mae must have on record a Master Agreement for Servicer’s Principal and Interest Custodial Account, form HUD 11709, covering the disbursement account for all applicable pools and loan packages.
