This is not legal advice for your situation*

New Compliance Tool: Wet/Dry Settlement Matrix

DocMagic's Compliance Department has prepared a matrix that shows whether each state, including the District of Columbia, requires a wet settlement. A "wet settlement" means that funds and all loan conditions need to be on the table at the time of closing. A "dry settlement" means that there are no funds available at closing.

Here is the matrix: Wet/Dry Settlement Matrix.





*This article is distributed to provide general information about the subject matter covered and should not be utilized as a substitute for professional advice in specific situations. If you require such advice, please consult with your own professional advisers.