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The conduit will usually pool enough funds from the mortgage-back securities before reissuing the funds to another party. A conduit may be used if a borrower is unable to meet the requirements of the original lender. See also conduit borrower, conduit issuer. The water was leaking, so I figured that there must be some kind of problem with a conduit that was causing the leak.
1 Electrical conduit, a protective cover, tube or piping system for electric cables. 2  Conduit current collection, a system of electric current collection used by electric trams. 3  Heating, ventilating and air-conditioning air duct.