USA Loan Participation Sale and Trust Agreement
Under this Agreement, a lead lender (Seller) participates in one or more loans by transferring an undivided participation ownership interest in the loan to another lender (Buyer).
- The Buyer receives a percentage yield on its interest, plus a pro rata participation in any interest collected.
- The Seller is entitled to the remainder of the interest plus any default penalties, late charges, etc.
- The Seller will act as trustee with fiduciary duties to hold the participation ownership and legal title to the loans and receipts, and to make the required remittances.
- The Seller, as trustee, will retain all loan documents, mortgage notes, and related items.
- The Seller will continue to service the loans in the same manner as it services loans for its own account.
To download the USA Loan Participation Sale and Trust Agreement, just add it to your cart and check out with your preferred method of payment.
Last Updated: 14-April-2016