Mortgage Loan Purchase and Sale Agreement
(Residential Mortgage-Backed Security Transaction)

Summary

This Mortgage Loan Purchase and Sale Agreement template between the sponsor and the depositor transfers the ownership of the mortgage loan pool from the sponsor’s warehousing entity to the depositor so that the depositor can then deposit the loans and form the issuing trust under the pooling and servicing agreement. This template includes practical guidance, and drafting notes. This template of Mortgage Loan Purchase and Sale Agreement relates to an RMBS transaction, but the terms may be similar for other asset classes as well. It has been created for information (and not authoritative) purposes, each particular transaction will have its own terms that may differ from the terms contained herein. This template does not anticipate all of the issues that may arise during the life of any particular ABS issue. For more information on securitization transactions, see Securitization, and Parties and Documents in Securitization Transactions. For a template of a pooling and servicing agreement, see Pooling and Service Agreement (Residential Mortgage-Backed Security Transaction).