Trust account funds definition

Trust account funds means money entrusted to a mortgage lender or mortgage broker during the
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Trust account funds means money entrusted to a mortgage lender or mortgage broker during the origination of a mortgage loan for the payment of services provided by a bona fide third party, which does not include the services of a mortgage broker, mortgage lender, or mortgage loan originator. The term includes appraisal fees, credit report fees, and other fees required for the mortgage loan origination.
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Examples of Trust account funds in a sentence

  • Trust account funds and pending contracts must be maintained by the responsible broker until final proper disbursal or until new agreements are secured from all parties for transfer of the funds and/or contracts.

  • Trust account funds may be used for the required cash investment if the consumer provides adequate documentation that the withdrawal of funds will not negatively affect income.

  • Trust account funds must not be placed in mutual funds, stocks, bonds, or similar investments.

  • Trust account funds must not be placed in stocks, bonds, mutual funds that invest in stock or bonds, or similar uninsured investments.

  • Formally, the complement of the language in Example 6 can be expressed with formula of the form:We call VΣ(t) the tree representation of the data values in t.Consider an example of a string data tree in Figure 2.

  • Trust account funds must not be placed in stocks, bonds, mutual funds that invest in stock or bonds, or similar unin- sured investments.

  • Trust account funds may be used for the required cash investment if the consumer provides adequate documentation that the withdrawal of funds will not negatively af- fect income.

  • Trust account funds and pending contracts must be maintained by the responsible broker until final proper disbursal or until new agreements are secured from all parties for transfer of the funds and/or con- tracts.

  • Trust account funds may be used for the required cash investment if the borrower provides adequate documentation that the withdrawal of funds will not negatively affect income.

  • In the event that all trustor(s)/trustee(s) and successor trustor(s)/trustee(s) die, resign, become incapacitated, refuse to act or the Credit Union receives conflicting instructions, the Credit Union reserves the right to interplead any and all funds held in accounts opened under this Application and Agreement and to deduct its attorneys’ fees for the interpleader action from the Trust account funds.

Related to Trust account funds

  • Trust Accounts has the meaning assigned thereto in Section 5.1.

  • Trust Account means the trust account established by the Company upon the consummation of its IPO and into which a certain amount of the net proceeds of the IPO, together with a certain amount of the proceeds of a private placement of warrants simultaneously with the closing date of the IPO, will be deposited.

  • Trust Account Property means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Reserve Account Funding Date means the Payment Date selected by the Servicer on behalf of the Issuer which occurs not later than the earliest of the Payment Date with respect to the Monthly Period which commences three months prior to the commencement of the Controlled Accumulation Period (which commencement shall be subject to postponement pursuant to Section 4.13); provided, however, that if the Rating Agency Condition is satisfied, the Issuer may postpone the Reserve Account Funding Date.

  • Investment Account As defined in Section 3.12(a).

  • Collection Accounts As defined in Section 3.10(a).

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures shall be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Sections 401 and 402.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Reserve Funds means, collectively, the Tax and Insurance Reserve Fund, the Replacement Reserve Fund, the Required Repair Fund, the Rollover Reserve Fund, the Ground Lease Reserve Fund, the Excess Cash Flow Reserve Fund and any other escrow fund established by the Loan Documents.