Dry Loan definition

Dry Loan means an Eligible Loan originated by the Seller that has been closed, funded and qualifies without exception as an Eligible Loan, including satisfying the requirement that all of its Basic Papers have been delivered to the Custodian.

Dry Loan means a first or second lien Loan which is underwritten in accordance with the Underwriting Guidelines and as to which the related Mortgage File contains all required Loan Documents.

Dry Loan means a first lien Loan which is underwritten in accordance with the Underwriting Guidelines and as to which the related Mortgage File contains all required Loan Documents.

Examples of Dry Loan in a sentence

• If the Loan is a Dry Loan, the Note, the Mortgage, the Assignment of Mortgage (other than for a MERS Loan) and any other documents required to be delivered under the Custodial Agreement for each Loan have been delivered to the Custodian.

• Borrower covenants and agrees to deliver directly to Lender the Dry Loan Package with respect to a Pledged Mortgage Loan within five (5) Business Days of Lender’s advance of the Advance Amount for such Mortgage Loan.

• The original copies of such Wet Loan Trust Receipts, Undocumented Loan Trust Receipts and Dry Loan Trust Receipts shall be delivered to JPMorgan Chase Bank at Four New York Plaza, Ground Floor, Outsourcing Department, New York, New York 10004, Attention: Xxxxxxxx Xxxx for the account of Greenwich Capital Markets, telephone number (000) 000 0000, as agent for Buyer by overnight delivery using a nationally recognized insured overnight delivery service.

More Definitions of Dry Loan

Dry Loan means an Eligible Mortgage Loan included in the Borrowing Base and for which the Required Mortgage Documents have been delivered to the Administrative Agent.

Dry Loan means an Eligible Loan originated by the Seller that has been closed, funded and qualifies without exception as an Eligible Loan, including satisfying the requirement that all of its Basic Papers have been delivered (or in the case of an eNote, satisfying the eNote Delivery Requirements) to the Custodian.

Dry Loan means a Mortgage Loan which contains all of the Required Documents.

Dry Loan means a first lien Mortgage Loan which is underwritten in accordance with the Underwriting Guidelines and the Mortgage File for which contains all of the documents specified in Annex 15 of the Custodial Agreement.

Dry Loan means a Loan the Collateral Documents for which have been delivered to the Bank.

Dry Loan means an Eligible Mortgage Loan included in the Borrowing Base and for which the Required Mortgage Documents have been delivered to Agent.

Dry Loan means a Pledged Loan acquired and owned by the Company that has been closed, funded and qualifies without exception as Eligible Single-family Collateral, including satisfying the requirement that all of its Basic Papers have been delivered to the Custodian.