Difference between revisions of "Good Funds in Connecticut"
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==Overview== | ==Overview== | ||
==Sources== | ==Sources== | ||
| − | ==Wet or Dry Settlement==Wet==Definition==Mortgage lenders are required to pay loan proceeds to the borrower, the | + | ==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== | ||
* [[Connecticut]] | * [[Connecticut]] | ||
* [[Good Funds]] | * [[Good Funds]] | ||
Latest revision as of 06:41, 4 September 2018
Contents
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
