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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. a pipe, tube, or natural channel for conveying water or other fluid. 2. a channel through which anything is conveyed: a conduit for information. 3. a structure containing ducts for electrical conductors or cables. 4. Archaic. a fountain.