Wet-Ink Mortgage Loan definition

Wet-Ink Mortgage Loan means a Mortgage Loan which Seller is selling to Buyer simultaneously with the origination thereof.
Wet-Ink Mortgage Loan means a Mortgage Loan originated by the Seller in a transaction table-funded by the Buyer, which origination or table funding is financed in part or in whole with proceeds of Transactions and as to which the Custodian has not yet received the related Mortgage File. A Mortgage Loan shall cease to be a Wet-Ink Mortgage Loan on the date on which the Agent has received a Mortgage Loan Schedule and Exception Report from the Custodian with respect to such Mortgage Loan confirming that the Custodian has physical possession of the related Mortgage File (as defined in the Custodial Agreement) and that there are no Exceptions (as defined in the Custodial Agreement) with respect to such Mortgage Loan. No Mortgage Loan that is table-funded by Seller or any third party shall be eligible as a Wet-Ink Mortgage Loan under this Repurchase Agreement.
Wet-Ink Mortgage Loan means a Mortgage Loan which any Seller is selling to Buyer simultaneously with the origination thereof and for which the Mortgage Loan Documents have not been delivered to the Custodian.

Examples of Wet-Ink Mortgage Loan in a sentence

  • With respect to each Mortgage Loan that is a Wet-Ink Mortgage Loan, the Settlement Agent has been instructed in writing by Seller to hold the related Mortgage Loan Documents as agent and bailee for Buyer or Buyer agent and to promptly forward such Mortgage Loan Documents in accordance with the provisions of the Custodial Agreement and the Escrow Instruction Letter.

  • With respect to each Mortgage Loan that is a Wet-Ink Mortgage Loan (other than any such Mortgage Loan originated in the State of New York), Seller has obtained an ALTA closing protection letter which provides indemnification for the Buyer for losses arising from the related Closing Agent’s fraud, theft, dishonesty, negligence or failure to follow written closing instructions, in form and substance acceptable to the Buyer.

  • With respect to each Wet-Ink Mortgage Loan, immediately following the Purchase Date, Seller shall cause the related Settlement Agent to deliver to the Custodian the remaining documents in the Mortgage Loan File.

  • With respect to a Transaction the subject of which is a Wet-Ink Mortgage Loan (if applicable), (i) Seller shall deliver to Buyer or its Custodian any Mortgage Loan Documents in such Seller’s possession, and (ii) such Seller shall authorize and direct the Closing Agent to deliver the related Mortgage Loan Documents directly to Buyer or its Custodian, in each case, within the Maximum Dwell Time in accordance with the terms of Section 5.02, Exhibit O hereof and the Custodial Agreement.

  • With respect to each Wet-Ink Mortgage Loan, evidence that an Escrow Instruction Letter has been delivered by Underlying Repurchase Counterparty to the related Settlement Agent.


More Definitions of Wet-Ink Mortgage Loan

Wet-Ink Mortgage Loan means a Mortgage Loan that Seller is selling to Purchaser simultaneously with the origination thereof that is funded as part, either directly or indirectly, with the Purchase Price paid by Purchaser hereunder and for which the Custodian shall not have received a complete Mortgage File.
Wet-Ink Mortgage Loan means a Mortgage Loan for which a Mortgage File has not been delivered to the Custodian.
Wet-Ink Mortgage Loan means an Eligible Asset which is sold to Buyer simultaneously with the origination thereof by Seller, which origination is in accordance with the Underwriting Guidelines and is funded in part or in whole with proceeds of the sale of the Eligible Asset to Buyer advanced directly to a Settlement Agent.
Wet-Ink Mortgage Loan means a Mortgage Loan that Seller is selling to Purchaser simultaneously with the origination thereof that is funded in part, either directly or indirectly, with the Purchase Price paid by Purchaser hereunder and prior to receipt by Purchaser or its Custodian of the original Mortgage Note.
Wet-Ink Mortgage Loan means an Eligible Asset which is sold to Buyer within 8 Business Days of the origination thereof by Seller, which origination is in accordance with the Underwriting Guidelines and is funded in part or in whole with cash advanced directly to an escrow agent, Settlement Agent, or Warehouse Lender approved by Buyer in its sole discretion.
Wet-Ink Mortgage Loan means a mortgage loan for which the Trust Receipt has not been issued as of the Purchase Date.