Table funding definition
Table funding means a settlement at which a mortgage loan is funded by a contemporaneous advance of loan funds and an assignment of the loan to the person advancing the funds.
Table funding means a settlement at which a mortgage loan is funded by a contemporaneous advance of loan funds and an assignment of the loan to the person advancing the funds. The mortgage broker originates the loan and closes the loan in its own name with funds provided contemporane- ously by a lender to whom the closed loan is assigned.
Table funding means a transaction in which a person conducts a residential mortgage loan closing in the person’s name with funds provided by a 3rd party and the person assigns the resi- dential mortgage loan to the 3rd party within 24 hours of the resi- dential mortgage loan closing.
More Definitions of Table funding
Table funding means a closing or settlement at which a mortgage loan is funded by a lender by a contemporaneous advance of mortgage loan funds and an assignment of the mortgage loan to the lender advancing the funds.
Table funding means a transaction in which a person conducts a loan closing in the person’s name with funds provided by a 3rd party and the person assigns the loan to the 3rd party within 24 hours of the loan closing.
Table funding means a settlement at which a residential mortgage loan is funded by a contemporaneous advance of residential mortgage loan funds and an assignment of the residential mortgage loan to the person advancing the funds.
Table funding means a settlement at which a mortgage loan is funded by a contemporaneous advance of loan funds
Table funding shall have a correlative meaning.
Table funding in Section 2(bc) of Annex I is ------------- hereby deleted in its entirety and replaced with the following:
Table funding means lender provides the funding at or before closing, closing occurs in the name of Broker, and Broker assigns all rights to each loan ("Loan") to Lender simultaneously with closing of the Loan. Applications shall related to the various residential mortgage loan products described in Lender's "Citicorp Mortgage, Inc. Broker's Guide," which Lender may modify at any time following 7 calendar days written notice to Broker. Lender will have complete discretion to approve or disapprove Applications for table funding. If Lender agrees to table fund a Loan, Lender shall be responsible for the underwriting of the Loan. Broker shall close such Loan using loan documentation and accounting to producers approved by Lender. Each appraisal of property securing a Loan will be appraised only by an appraises included in Lender's list of approved appraisers, are in effect from time to time.