What is the Definition of Pooling and Servicing Agreement?

Pooling and Servicing Agreement

Noun

Definition: A legal contract defining the responsibilities and the obligations for management of a CMBS particularly for the Master Servicer and the Special Servicer. This primary document governs and controls much of the CMBS process. Also abbreviated as PSA, not to be confused with the Public Securities Association which is also known as PSA.

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