Wet Funded Mortgage Loan means a closed fully funded Mortgage Loan which the Sellers are selling to the Administrative Agent for the benefit of the Buyers and for which the Mortgage Loan File has not been delivered to the Custodian.
Wet Funded Mortgage Loan means an Eligible Mortgage Loan for which the documents described in Exhibit A-2 hereto have been delivered to Buyer on or prior to the Purchase Date in conjunction with a Transaction Request as described in Exhibit A-1 hereto.
Wet Funded Mortgage Loan. Section 1(A)(3). EXHIBIT A SECURED NOTE Dated as of October 25, 1996 FOR VALUE RECEIVED, the undersigned, AMRESCO RESIDENTIAL CAPITAL MARKETS, INC., a Delaware corporation organized under the laws of the State of Delaware, whose address is 000 Xxxxx Xxxxx Xxxxxx, Xxxxx 0000, Xxxxxx, Xxxxx 00000 (the "Borrower"), promises to pay to the order of PRUDENTIAL SECURITIES CREDIT CORPORATION, a Delaware corporation, whose address is Xxx Xxx Xxxx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000 (the "Lender") on or before the Maturity Date the amount then outstanding (including accrued interest) under that certain Amended and Restated Interim Warehouse and Security Agreement dated as of October 25, 1996 (the "Agreement"). Initially, the maximum principal amount which may be outstanding is $500,000,000 (subject to certain limitations as set forth therein). Capitalized terms used herein and not defined herein shall have their respective meanings as set forth in the Agreement. The holder of this Note is authorized to record the date and amount of each Advance and the date and amount of each repayment of principal thereof on the schedule to be maintained by the Lender (which schedule may be obtained upon borrower's request), and any such recordation shall constitute prima facie evidence of the accuracy of the amount so recorded; provided that the failure of the holder hereof to make such recordation (or any error in such recordation) shall not affect the obligations of the Borrower hereunder or under the Agreement.
Examples of Wet Funded Mortgage Loan in a sentence
With respect to a Wet Funded Mortgage Loan or a Third Party Mortgage Loan, all documentation required for a Dry Funded Mortgage Loan shall have been delivered to the Buyer within four (4) Business Days after the Transaction closes;9.2. The fifth paragraph of Exhibit B to the Repurchase Agreement is hereby amended in its entirety as follows: Minimum FICO.
The DWSS SRD is a word document that defines the users requirements (See Attachment R Eligibility Automation Project Sample SRD).
More Definitions of Wet Funded Mortgage Loan
Wet Funded Mortgage Loan means a Securitization Program Mortgage Loan or a Wholesale Mortgage Loan funded pursuant to a Wet-Funding and with respect to which the Mortgage Note has not yet been received by the Custody Agent.