Pooling and Servicing Agreement Search

Pooling and Servicing Agreement Search: Understanding the Basics

If you work in the mortgage industry, you may have heard about pooling and servicing agreements (PSAs). These agreements are legal documents that govern the way mortgage loans are bundled together and sold as securities to investors. But, what happens when you need to find a specific PSA? That`s where pooling and servicing agreement search comes in.

What is Pooling and Servicing Agreement Search?

Pooling and servicing agreement search is the process of locating and retrieving specific PSAs. This can be a challenging task, as there are thousands of PSAs in the market and they are often stored in various databases and platforms.

The purpose of searching for a PSA may vary depending on the situation. It could be for due diligence in a mortgage securitization transaction, as part of a legal discovery process, or for other purposes in the mortgage industry.

How to Conduct a PSA Search?

To begin a PSA search, you need to have as much information as possible about the specific agreement you are looking for. This includes the name of the issuer, the trust name, the series or class of the securities, and the date of the agreement.

Once you have this information, you can start your search using various resources. These resources include:

1. EDGAR: The Securities and Exchange Commission`s (SEC) Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system is a free online database that contains all publicly filed PSA documents.

2. Bloomberg: Bloomberg`s terminal offers a specialized database of PSAs that can be accessed by subscribing to the service.

3. Third-Party Databases: Several third-party databases offer PSA search capabilities for a fee. These include Intex Solutions, Debtdomain, and Trepp.

Best Practices for PSA Search

When conducting a PSA search, it`s important to keep some best practices in mind.

1. Maintain an Accurate Record: It`s essential to keep a detailed and accurate record of all PSA searches conducted, including the date, search terms, results, and platform used.

2. Double Check Information: Always double-check the information before submitting a PSA search request. A small mistake in the search criteria can result in an inaccurate or incomplete result.

3. Use Multiple Resources: Don`t rely on just one database or platform for PSA searches. It`s best to use multiple resources to ensure the most comprehensive search possible.

In conclusion, pooling and servicing agreement search is an important part of the mortgage industry. Properly executing a PSA search requires careful planning, attention to detail, and the use of various resources. By following best practices and utilizing the right tools, you can successfully locate and retrieve the specific PSA document you need.

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