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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.
Bend the Conduit. A conduit is a metal pipe that houses electrical wires. When wires are tightly wound through a conduit, a grounding wire isn't necessary -- as the conduit itself acts as a ground. Conduit benders will bend the metal of a conduit, or a 90 degree pulling 'L' can be used (image 1). It opens in the back, which creates an access point to pull wires through.