The PSA & "The Alphabet Problem" In “Proving Up” Unbroken Chain Of “Assignments & Transfers” Of Notes, Mortgages In Foreclosure Defense Litigation

Consumer bankruptcy litigation attorney O. Max Gardner III writes:

• The Pooling and Servicing Agreement (PSA) is the document that actually creates a residential mortgage backed securitized trust and establishes the obligations and authority of the Master Servicer and the Primary Servicer. The PSA also establishes that mandatory rules and procedures for the sales and transfers of the mortgages and mortgage notes from the originators to the Trust. It is this unbroken chain of assignments and negotiations that creates what I have called “The Alphabet Problem.”

For more, see The Alphabet Problem and the Pooling and Servicing Agreement.

For 20 of the reasons you need to request through formal discovery in any mortgage-related lawsuit the PSA Agreement and why it is relevant, see Max Gardner’s Top Reasons for Wanting a Pooling & Servicing Agreement.

See Finding Investor Restrictions on Loan Modifications for some guidance on locating pooling and servicing agreements.