Good Funds in Connecticut

From WFG Wiki

Overview

Sources

Wet or Dry Settlement

Wet

Definition

Mortgage lenders are required to pay loan proceeds to the borrower, the borrower's attorney, or the lender's attorney by a certified check, bank treasurer's or cashier's check, or by wire transfer in connection with a first-lien, purchase money mortgage loan. CT Gen. Stat. Ann. § 36a-758.

Requirements

Must have good funds at or before closing.

Exceptions to Requirements

N/A

Cross-References