Loan Auditors

A pooling and servicing agreement outlines the rights and responsibilities of the trustee, servicer, and others involved in a pool of mortgage loans. So where do you find it? I’ll assume that you don’t know the name of the securitized pool of loans that you are looking for (otherwise it would quite simple).

Follow these steps to locate a pooling and servicing agreement:

1. Go to http://www.sec.gov and look for a blue tab labeled “Filings & Forms”. Click on Search for Company Filings.
2. Click the link labeled “Company or fund name, ticker symbol, CIK (Central Index Key), file number, state, country, or SIC (Standard Industrial Classification)”
3. Type the name of the mortgage company in the Company Name field and click the Find Companies button>
4. If you know the year your loan was serviced (and you should), look for an entry with that year in the title and click on that entry’s document number.
5. Look for the document titled Prospectus and open it in HTML or Text.
6. Look for the Pooling and Servicing Agreement section in the Table of Contents. In that section you’ll find information on closing dates and cut offs for the pool of loans in question. Other information in the Pooling and Services Agreement includes who has the right to modify a loan or negotiate with the homeowner. You’ll want to get to know that person.
7. If this isn’t the right document for the loan you are attempting to modify, repeat these steps until you find the right Pooling and Servicing Agreement. It’s tedious work, but well worth it.

Get more information on the loan audit process at U.S. Lender Audit.