Fatal Exception

Example Definitions of "Fatal Exception"
Fatal Exception. A non-Wet Funded Loan that does not have (i) the documents referenced in Section 2(b)(i), (iii), (iv), (v) and (vi) of the Custodial Agreement and (ii) some evidence that a title insurance policy has been issued or a commitment to issue such policy, in the Custodial Loan File and which are listed on the Fatal Exception Report.
All Definitions