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Table Funding

Posted on: 12th Jan, 2009 03:26 pm
Why is table funding not done in California
Hi charlesremley,

California is not a wet funding state and table funding is applicable in states which has Wet Settlement laws. According to the Wet Settlement laws, the lending banks are required to pay out the funds within a period of time (within 2 days of closing).

Thanks.
Posted on: 13th Jan, 2009 02:00 am
Thank you for that answer, I appreciate it.
Posted on: 13th Jan, 2009 07:54 am
It's because California makes everything more complicated. It is an escrow state meaning that the average Joe can open an escrow company. In table funding states attorneys do title and escrow. Therefore they are responsible for the funding and making sure that the deed of trust ( mortgage ) records.
Posted on: 11th Sep, 2010 03:48 pm
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