Wet Funding definition

Wet Funding means the purchase by Buyer of a Mortgage Loan that is Originated by Seller on the Purchase Date under escrow arrangements satisfactory to Buyer pursuant to which Seller is permitted to use the Purchase Price proceeds to close the Mortgage Loan before Custodian’s receipt of the complete Asset File.

Wet Funding. A Transaction for which Seller has delivered to Buyer a Transaction Request pursuant to Section 3.01(g).

Wet Funding. A Closing Transaction initiated by the delivery by Seller, either via electronic or facsimile transmission to Purchaser, of a Closing Loan Purchase Detail and a pledge by Seller to Purchaser to deliver to Custodian a Dry Submission Package or Conduit Submission Package by the Scheduled Collateral Receipt Date.

Examples of Wet Funding in a sentence

• A similar exemption was granted in 1971 for the training of coloured artisans as bricklayers and plasterers within certain restricted white areas.

• On the Notice Date, Seller or a Guarantor shall (i) request that Buyer enter into a Transaction by furnishing to Buyer and Custodian a Transaction Notice and Loan Schedule, (ii) deliver to Buyer a Computer Medium for the related Purchased Assets and (iii) deliver to Custodian the Loan File or Wet Funding Package for each Loan subject to such Transaction.

• In the case of any Transaction that is a Wet Funding, Seller shall (i) no later than 12:00 noon (New York City time) on the Purchase Date, deliver or cause Bailee to deliver to Custodian and Buyer by Electronic Transmission, PDF copies of the Mortgage Asset Documents and (ii) deliver or cause Bailee to deliver the original Mortgage Asset Documents to Custodian no later than 5:00 p.m., New York City time, on the fifth (5th) Business Days after the Purchase Date in accordance with Section 2.01(f)(ii) above.

• Apakah kadar asas (BR)?BR yang kami tawarkan bagi produk ini terbahagi kepada dua bahagian, kos dana (COF) ukur rujuk kami dan kos Keperluan Rizab Berkanun (SRR) yang dikenakan oleh Bank Negara Malaysia.

• Charles County, St. Mary’s County, Prince George’s County, and Montgomery County.

More Definitions of Wet Funding

Wet Funding means the purchase of a Mortgage Loan that is Originated by Seller on the Purchase Date under escrow arrangements satisfactory to Buyer pursuant to which Seller is permitted to use the Purchase Price proceeds to close the Mortgage Loan prior to Buyer’s receipt of the complete Loan File.

Wet Funding means the purchase by Administrative Agent (as agent and representative of Buyer) of a Mortgage Loan that is Originated by a Seller on the Purchase Date under escrow arrangements satisfactory to Administrative Agent pursuant to which a Seller is permitted to use the Purchase Price proceeds to close the Mortgage Loan prior to Administrative Agent’s receipt of the complete Loan File.

Wet Funding. Advance: An Advance made pursuant to Section 2.3B.

Wet Funding means a Transaction for which the Seller has delivered to the Agent a Transaction Request pursuant to Paragraph 3(a).

Wet Funding means a Purchase, or any part thereof, which is made against an executed Wet-Funding Escrow Agreement and, subject to the closing of the Mortgage Loan which is the subject of the Wet-Funding Escrow Agreement, is secured by such Mortgage Loan.

Wet Funding means the purchase of a Mortgage Loan that is Originated by Seller on the Purchase Date under escrow arrangements satisfactory to Buyer pursuant to which Seller is permitted to use the Purchase Price proceeds to close the Mortgage Loan prior to Buyer’s receipt of the complete Loan File. “Wet Funding Deadline” means, with respect to any Wet Loan, the fifth (5th) Business Day after the Origination Date for such Wet Loan, or such later Business Day, if any, as Buyer, in its sole discretion, may specify from time to time. “Wet Loan” means a Mortgage Loan for which the completed Loan File was not delivered to Buyer prior to funding of the related Purchase Price. 3.

Wet Funding. A Transaction for which Seller has delivered to Buyer a Wet Transaction Request and, a pledge by Seller to Buyer to deliver to Custodian a complete Mortgage Asset File within five (5) Business Days of the related Purchase Date.