Herein is an accountants view of a convetional mortgage loan funding.
The ABA wire into settlement is offset by the liens of record or payoff demand . The demands are setoff by the reconveyance of the liens that were satisfied. The amount satisfied or paid in settlement constitutes a new mortgage .
What then is the purpose for the lenders post TARP reconstitution agreements?
|ABA Wire into Settlement||546,250|
|Liens of Record||(546,250)|