ok... I screwed that up.... wrong trust...
Found the right one... the cut off date is correct...
But take a look at this...
The depositor will, with respect to each mortgage asset, deliver or
cause to be delivered to the trustee, or to the custodian hereinafter referred
o With respect to each mortgage loan, (1) the mortgage note endorsed,
without recourse, to the order of the trustee or in blank, (2) the
original Mortgage with evidence of recording indicated thereon and
an assignment of the Mortgage to the trustee or in blank, in
recordable form. If, however, a mortgage loan has not yet been
returned from the public recording office, the depositor will
deliver or cause to be delivered a copy of the Mortgage together
with its certificate that the original of the Mortgage was delivered
to the recording office. The depositor will promptly cause the
assignment of each related mortgage loan to be recorded in the
appropriate public office for real property records, except for
Mortgages held under the MERS(R) System and except in the State of
California or in other states where, in the opinion of counsel
acceptable to the trustee, recording of the assignment is not
required to protect the trustee's interest in the mortgage loan
against the claim of any subsequent transferee or any successor to
or creditor of the depositor, the master servicer, the relevant
mortgage loan seller or any other prior holder of the mortgage loan.
If the depositor uses the MERS(R) System, it will deliver evidence
that the Mortgage is held for the trustee through the MERS(R) System
instead of an assignment of the Mortgage in recordable form.
Little background... MERS dn appear anywhere in the forclosure paperwork or the info filed with the county... Property is in Michigan..
Does the above section of the PSA, force the assignment of mortgage to be filed upon distribution of the certificates... ie when the trust was formed?