Common use of DELIVERY OF LOAN DOCUMENTATION Clause in Contracts

DELIVERY OF LOAN DOCUMENTATION. A. Closed Loan Document Delivery Plaza’s designated warehouse bank must receive the complete and original collateral package with a copy to Plaza prior to disbursement of loan purchase funds by Plaza. All other original documents of the complete loan file will also have been delivered and reviewed by Plaza prior to loan purchase. Plaza’s Correspondent Lock Policies shall govern the pricing of Loans delivered after the expiration date of the Lock Confirmation. The entire closing package may be delivered electronically or in a single folder (no need to deliver the collateral and closing packages separately). In all cases the collateral delivered must be the original documents.

DELIVERY OF LOAN DOCUMENTATION. A. Closed Loan Document Delivery Plaza’s designated warehouse bank must receive the complete and original collateral package with a copy to Plaza prior to disbursement of loan purchase funds by Plaza. All other original documents of the complete loan file will also have been delivered and reviewed by Plaza prior to loan purchase. PlazaXxxxx’s Correspondent Lock Policies shall govern the pricing of Loans delivered after the expiration date of the Lock Confirmation. The entire closing package may be delivered electronically or in a single folder (no need to deliver the collateral and closing packages separately). In all cases the collateral delivered must be the original documents.