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Warehousing |
The temporary advancement of a trust company's own funds in disbursing mortgage loans pending sale to investor clients for whom the- loans were originated. |
Waste (By Mortgagee In Possession) |
Deterioration of the security caused by gross or wilful negligence. |
Waste (By Mortgagor in Possession) |
Any destructive act which permanently reduces the value of the security. |
Wrap-Around Mortgage |
A new mortgage which is registered on title which encompasses a prior existing mortgage for a lower amount and usually for a lesser rate of interest. Payments under the new mortgage include the payments under the original mortgage, and the new mortgagee undertakes to service the prior debt. |
Writ |
A form of written command in the name of sovereign, state, court, etc., issued to official or other person and directing him to act or abstain from acting in some way. |
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