Wet Loans definition

Wet Loans means an Eligible Mortgage Loan for which the required loan documents included in the mortgage file have not yet been delivered to the Mortgage Loan Custodian.
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Wet Loans means Loans the proceeds of which are used to originate Wet Mortgage Loans.
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Wet Loans is defined in Section 2.3(c).
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Examples of Wet Loans in a sentence

  • In accordance with the times specified in the Custodial Agreement, Custodian will be required to deliver to Buyer, via Electronic Transmission acceptable to Buyer, Custodian Loan Transmission and an Exception Report showing the status of all Loans then held by Custodian, including but not limited to the Dry Loans and the Wet Loans which are subject to Exceptions, and the time the related Loan Documents have been released pursuant to Sections 5(a) or 5(b) of the Custodial Agreement.

  • In accordance with the times specified in the Custodial Agreement, Custodian will be required to deliver to Buyer, on each Purchase Date, one or more Trust Receipts (as defined in the Custodial Agreement) relating to either Wet Loans or Dry Loans.

  • Each Transaction Notice shall clearly indicate those Loans that are intended to be Wet Loans and Dry Loans and include a Loan Schedule in respect of the Loans that Seller proposes to include in the related Transaction.

  • All Basic Papers for each item of Single-family Collateral (except for Wet Loans) will be transmitted to the Custodian with the Submission List with which it is submitted.

  • Seller agrees to immediately report to Custodian and Buyer by facsimile transmission or such other method acceptable to Custodian and Buyer within one Business Day of discovery that any Wet Loans that were previously subject to a Transaction do not close for any reason and any Loans which are subject to a Rescission.

  • However, the Released Parties may file this Agreement and/or the Final Approval Order in any action or proceeding that may be brought against them in any jurisdiction in order to support a defense or counterclaim based on principles of res judicata, collateral estoppel, release, good faith settlement, judgment bar or reduction or any other theory of claim preclusion or issue preclusion or similar defense or counterclaim.

  • Except with respect to any Wet Loans, the Mortgage Note, the Mortgage, the Assignment of Mortgage (other than for a MERS Mortgage Loan), the policy of title insurance or a title commitment related to a policy of title insurance, and any other documents required to be delivered under the Mortgage Loan Custodial and Disbursement Agreement for each Mortgage Loan have been delivered to the Mortgage Loan Custodian.

  • The Borrower agrees to immediately report to the Custodian and the Lender by facsimile transmission within one Business Day of discovery that any Wet Loans that were previously pledged to the Borrower do not close for any reason including, but not limited to, a Recission.

  • Such Transaction Notice shall clearly indicate those Loans that are intended to be Conforming Loans, Jumbo A Credit A Loans, USAA Loans, Undocumented Loans, Wet Loans and Dry Loans and include a Loan Schedule in respect of the Eligible Loans that Seller proposes to include in the related Transaction.

  • The Borrower agrees to immediately report to the Custodian and the Lender by facsimile transmission within one Business Day of discovery that any Wet Loans that were previously pledged to the Borrower do not close for any reason including, but not limited to, a Rescission.


More Definitions of Wet Loans

Wet Loans means the Mortgage Loans purchased pursuant to an Assignment in which the Sellers shall sell to the Administrative Agent for the benefit of the Purchasers, from the Purchase Date of each Wet Purchase, the Mortgage Loans identified in Schedule II to said Assignment.
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Wet Loans. With respect to Wet Loans, during the days of each calendar month shown in the first column below, the aggregate Asset Value of all Mortgage Loans that are Wet Loans shall not exceed the percentage of the Maximum Purchase Price shown in the same row of the second column: first [***] and last [***] [***]% any other day [***]% Sublimits:
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Wet Loans means Eligible Mortgage Loans and Eligible Lot Loans which are included in the Borrowing Base, but for which the Required Mortgage Documents have not been delivered to Lender.”
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Wet Loans shall have the meaning set forth in Section A-6 of Exhibit A.
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Wet Loans means Loans the proceeds of which are used to originate Wet Mortgage Loans which are pledged to the Custodian pursuant to Section 2.1 (III) hereof.
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Wet Loans. Funded and closed mortgage loans which by their terms would qualify as Eligible Loans but for the fact that full and complete documentation has not been received by the Custodian ("Wet Loans"). The funding of Wet Loans will at all times be subject to the requirements set forth under "Wet Loan Advance Requirements" below.
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Related to Wet Loans

  • New Loans means Loans made by the Failed Bank after the Bid Valuation Date that are not continuations, amendments, modifications, renewals, extensions, refinancings, restructurings, or refundings of or for any then existing Loan.

  • Subject Loans has the meaning assigned to such term in Section 2.11(b)(ii).

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • or "Loans means and includes without limitation any and all commercial loans and financial accommodations from Lender to Borrower, whether now or hereafter existing, and however evidenced, including without limitation those loans and financial accommodations described herein or described on any exhibit or schedule attached to this Agreement from time to time.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • First Lien Loans means the “Loans” (or any comparable term) as defined in the First Lien Credit Agreement.

  • Refinanced Loans has the meaning specified in Section 10.01.

  • Bridge Loans means the Loans (as defined in the Bridge Credit Agreement).

  • Committed Loans means loans made pursuant to Section 2.1(a).

  • Second Lien Loans means the “Loans” as defined in the Second Lien Credit Agreement and shall, for the avoidance of doubt, include Incremental Second Lien Loans.

  • Revolving Facility Loans shall include the Other Revolving Loans.

  • Replacement Loans has the meaning specified in Section 10.01.

  • Revolving Loans as defined in Section 2.4(a).

  • U.S. Loans means, individually and collectively as the context may require, the U.S. Revolving Loans, the U.S. Swingline Loans, the U.S. Overadvances, and the U.S. Protective Advances.

  • Original Loans means the loans and other extensions of credit outstanding under the Original Credit Agreement as of the Effective Date.

  • Senior Loans means the term loans made by the Senior Lenders to the Borrower pursuant to the Senior Term Loan Agreement.

  • Initial Loans means the Eligible Loans evidenced by the Notes sold on the Closing Date pursuant to the Initial Purchase Agreement and related documentation, together with any guaranties and other rights relating thereto including, without limitation, Interest Subsidy Payments and Special Allowance Payments.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Term Loans means, collectively, the Tranche A Term Loans and the Tranche B Term Loans.

  • Tranche A Loans means the Loans made pursuant to the Tranche A Commitment.

  • Canadian Loans means, individually and collectively as the context may require, the Canadian Revolving Loans, the Canadian Swingline Loans, the Canadian Overadvances and the Canadian Protective Advances.

  • Tranche B Loans means loans made pursuant to Section 2.1(a)(ii).

  • Subordinated Loans means any loan incurred by the Issuer or any of its Subsidiaries, if such loan (i) according to its terms (or pursuant to a subordination agreement on terms and conditions satisfactory to the Trustee) is subordinated to the obligations of the Issuer under the Terms and Conditions; (ii) according to its terms have a final redemption date or, when applicable, early redemption dates or instalment dates which occur after the Final Redemption Date; and (iii) according to its terms yield only payment-in-kind interest.

  • Loan or Loans means, as the context may require, Revolving Loans and/or Swing Line Loans.

  • New Revolving Loans as defined in Section 2.25.

  • Existing Loans has the meaning specified in Section 2.19(a).