PEOPLE’S CHOICE HOME LOAN SECURITIES CORP., as Purchaser, and PEOPLE’S CHOICE HOME LOAN, INC., as Seller MORTGAGE LOAN PURCHASE AGREEMENT Dated as of July 1, 2006 FIXED AND ADJUSTABLE RATE MORTGAGE LOANSMortgage Loan Purchase Agreement • August 24th, 2006 • People's Financial Realty Mortgage Securities 2006-1 • Asset-backed securities • New York
This MORTGAGE LOAN PURCHASE AGREEMENT (this “Agreement”), dated as of July 1, 2006 (the “Cut-off Date”), is made among People’s Choice Home Loan, Inc. (the “Seller”) and People’s Choice Home Loan Securities Corp. (the “Purchaser”).
EMC MORTGAGE CORPORATION, as Servicer, WELLS FARGO BANK, N.A., as Master Servicer, PEOPLE’S CHOICE HOME LOAN, INC., as Subservicer and HSBC BANK USA, NATIONAL ASSOCIATION as Trustee SERVICING AGREEMENT Dated as of July 1, 2006Servicing Agreement • August 24th, 2006 • People's Financial Realty Mortgage Securities 2006-1 • Asset-backed securities • New York
THIS IS A SERVICING AGREEMENT, dated as of July 1, 2006 (the “Agreement”), and is executed among EMC Mortgage Corporation, as servicer (the “Servicer”), Wells Fargo Bank, N.A., as master servicer (the “Master Servicer”), People’s Choice Home Loan, Inc., as the subservicer pursuant to the Subservicing Agreement (the “Subservicer”) and HSBC Bank USA, National Association, as trustee (the “Trustee”).
PEOPLE’S CHOICE REALTY MORTGAGE SECURITIES TRUST MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-1 UNDERWRITING AGREEMENTUnderwriting Agreement • August 24th, 2006 • People's Financial Realty Mortgage Securities 2006-1 • Asset-backed securities • New York
The Certificates will be issued pursuant to a pooling and servicing agreement (the “PSA”), dated as of July 1, 2006 (the “Cut-Off Date”), by and among the Company, People’s Choice Home Loan, Inc., as the Seller and as subservicer (in such capacity, the “Subservicer”), EMC Mortgage Corporation, as servicer (the “Servicer”), Wells Fargo Bank, N. A., as securities administrator and master servicer (in such capacities, the “Securities Administrator” and “Master Servicer”) and HSBC Bank USA, National Association, as trustee (the “Trustee”). People’s Financial Realty Mortgage Securities Trust, Series 2006-1, a New York common law trust (the “Issuing Entity”) was formed pursuant to the PSA. The Mortgage Loans will be serviced pursuant to a servicing agreement, dated as of July 1, 2006 (the “Servicing Agreement”) by and among the Servicer, Master Servicer, Trustee and the Subservicer, and will be subserviced by the Subservicer pursuant to a subservicing agreement, dated as of July 1, 2006 (the
SUBSERVICING AGREEMENTSubservicing Agreement • August 24th, 2006 • People's Financial Realty Mortgage Securities 2006-1 • Asset-backed securities • New York
The assessment of compliance to be delivered by [the Servicer] [Name of Subservicer] shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”:
CUSTODIAL AGREEMENTPooling and Servicing Agreement • August 24th, 2006 • People's Financial Realty Mortgage Securities 2006-1 • Asset-backed securities • New York
Custodian has made no determination and makes no representations as to whether (x) any endorsement is sufficient to transfer all right, title and interest of the party so endorsing in and to the Mortgage Note or other document or (y) any assignment is in recordable form or sufficient to effect the assignment of and transfer to the assignee thereof, under the Mortgage to which the assignment relates.
PEOPLE’S CHOICE HOME LOAN SECURITIES CORP. Depositor WELLS FARGO BANK, N.A. Master Servicer and Securities Administrator HSBC BANK USA, NATIONAL ASSOCIATION Trustee EMC MORTGAGE CORPORATION Servicer PEOPLE’S CHOICE HOME LOAN, INC. Seller and SubservicerPooling and Servicing Agreement • August 24th, 2006 • People's Financial Realty Mortgage Securities 2006-1 • Asset-backed securities • New York
This Pooling and Servicing Agreement is dated and effective as of July 1, 2006, among People’s Choice Home Loan Securities Corp., as depositor (the “Depositor”), Wells Fargo Bank, N.A., as master servicer and securities administrator (the “Master Servicer” and the “Securities Administrator,” respectively), HSBC Bank USA, National Association, as trustee (the “Trustee”), EMC Mortgage Corporation, as servicer (the “Servicer”), and People’s Choice Home Loan, Inc., as subservicer and as seller (the “Subservicer” and the “Seller,” respectively).
