Funding Check definition
Funding Check means a check issued by or on behalf of the Company the proceeds of which will be used to close the origination of a Mortgage Loan and which check has not been presented for payment and cleared. "GAAP" shall mean generally accepted accounting principles in the United States of America in effect from time to time. "GNMA" shall mean the Government National Mortgage Association and any successor agency.
Funding Check means a check issued by or on behalf of the ------------- Company the proceeds of which will be used to close the origination of a Mortgage Loan designated for inclusion in the Borrowing Base and which check has not been presented for payment and cleared.