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

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

  • A later passage in the brief states, “Ezor distributed the proceeds of [the painting] sale, inadvertently writing the check for the sale of the painting, against Maxine’s account instead of Susan Marx’s Trust account funds.

  • 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 are used for expenses related to holding conferences, workshops, and recognition ceremonies on Oahu and the neighbor islands.

  • Most buyers will tell you that they hate auctions and will try to avoid them, as they always lead to a better price for the seller than privately-held exclusive negotiations.

  • Trust account funds are used for expenses related to holding conferences, workshops, and recognition ceremonies on O‘ahu and the neighbor islands.

  • In individual interviews, the executive leadership team members were able to speak about actions taken during the previous 12 months to maintain or improve organizational performance, employee satisfaction, or patient experiences.

  • Action items to approve the expenditure of SGA/SGA Committee and Trust account funds shall adhere to these procedures.

  • Trust account funds may not be loaned to administrative or other trust accounts.

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.

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

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.

  • Trust Funds means any cash or Permitted Investments comprised of (a) funds specially and exclusively used (i) for payroll and payroll taxes and other employee benefit payments to or for the benefit of employees of Loan Parties and their subsidiaries, (ii) to pay all taxes required to be collected, remitted or withheld (including, without limitation, federal and state withholding taxes (including the employer’s share thereof)) and (b) any other funds which any Loan Party holds on behalf as an escrow or fiduciary for another person (other than another Loan Party).

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

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

  • 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).

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.

  • 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.