Difference between revisions of "Good Funds in Connecticut"
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==Definition== | ==Definition== | ||
| − | Mortgage lenders are required to pay loan proceeds to the borrower, the borrower | + | 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. |
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==Requirements== | ==Requirements== | ||
Must have good funds at or before closing. | Must have good funds at or before closing. | ||
Latest revision as of 07:41, 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
