Davidjenkins: CSV import

2018-09-04T14:01:09Z

CSV import

Davidjenkins: CSV import

2018-09-04T13:18:12Z

CSV import

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==Overview==
==Sources==
==Wet or Dry Settlement==Wet==Definition=="Disbursement of loan funds" means the delivery of the loan funds by the lender to the settlement agent in one or more of the following forms:
1. Cash;
2. Wired funds;
3. Certified check;
4. Checks issued by the Commonwealth or a political subdivision of the Commonwealth;
5. Cashier's check, or teller's check with equivalent funds availability in conformity with the federal Expedited Funds Availability Act (12 U.S.C. § 4001 et seq.);
6. Checks issued by a financial institution, the accounts of which are insured by an agency of the federal or state government, which checks are drawn on a financial institution located within the Fifth Federal Reserve District, the accounts of which are insured by an agency of the federal or state government;
7. Drafts issued by a state chartered or federally chartered credit union, which drafts are drawn on the United States Central Credit Union;
8. Checks issued by an insurance company licensed and regulated by the State Corporation Commission, which checks are drawn on a financial institution located within the Fifth Federal Reserve District, the accounts of which are insured by an agency of the federal government; or
9. Checks issued by a state or federal savings and loan association or savings bank operating in the Commonwealth, which checks are drawn on the Federal Home Loan Bank of Atlanta. VA Code 55-525.8.==Requirements==The lender shall, at or before loan closing, cause disbursement of loan funds to the settlement agent. In the case of a refinancing or any other loan where a right of rescission applies, the lender shall, within one business day after the expiration of the rescission period required under the federal Truth in Lending Act (15 U.S.C. § 1601 et seq.), cause disbursement of loan funds to the settlement agent. VA Code 55-525.10.===Exceptions to Requirements===N/A==Cross-References==
* [[Virginia]]
* [[Good Funds]]

@@ Line 1: / Line 1: @@
 ==Overview==
 ==Sources==
-==Wet or Dry Settlement==Wet==Definition=="Disbursement of loan funds" means the delivery of the loan funds by the lender to the settlement agent in one or more of the following forms:
+==Wet or Dry Settlement==
 . Cash;
 . Wired funds;
 . Certified check;
 . Checks issued by the Commonwealth or a political subdivision of the Commonwealth;
-. Cashier's check, or teller's check with equivalent funds availability in conformity with the federal Expedited Funds Availability Act (12 U.S.C. § 4001 et seq.);
+. Cashier's check, or teller's check with equivalent funds availability in conformity with the federal Expedited Funds Availability Act (12 U.S.C. ? 4001 et seq.);
 . Checks issued by a financial institution, the accounts of which are insured by an agency of the federal or state government, which checks are drawn on a financial institution located within the Fifth Federal Reserve District, the accounts of which are insured by an agency of the federal or state government;
 . Drafts issued by a state chartered or federally chartered credit union, which drafts are drawn on the United States Central Credit Union;
 . Checks issued by an insurance company licensed and regulated by the State Corporation Commission, which checks are drawn on a financial institution located within the Fifth Federal Reserve District, the accounts of which are insured by an agency of the federal government; or
-. Checks issued by a state or federal savings and loan association or savings bank operating in the Commonwealth, which checks are drawn on the Federal Home Loan Bank of Atlanta.  VA Code 55-525.8.==Requirements==The lender shall, at or before loan closing, cause disbursement of loan funds to the settlement agent. In the case of a refinancing or any other loan where a right of rescission applies, the lender shall, within one business day after the expiration of the rescission period required under the federal Truth in Lending Act (15 U.S.C. § 1601 et seq.), cause disbursement of loan funds to the settlement agent.   VA Code 55-525.10.===Exceptions to Requirements===N/A==Cross-References==
+. Checks issued by a state or federal savings and loan association or savings bank operating in the Commonwealth, which checks are drawn on the Federal Home Loan Bank of Atlanta.  VA Code 55-525.8.
 * [[Virginia]]
 * [[Good Funds]]

Good Funds in Virginia - Revision history

Davidjenkins: CSV import

Davidjenkins: CSV import