An aqueous composition is described. The composition comprises a film-forming latex polymer having anionic character; a water-soluble or water-dispersible polymer formed from at least about 20% by weight monomer containing amine functional groups; and a volatile base in an amount effective to raise the pH of the composition to a point high enough where essentially all of the amine functional groups are in a nonionic state; and optionally a water-soluble or water-dispersible multivalent metal. The composition provides an aqueous, quick-set noncementitious composition which is easily applied, develops early cohesive strength and leaves no waste under all curing conditions. The invention is particularly useful as an adhesive used in exterior insulating and finishing systems. The composition also provides an aqueous, exterior, quick-set coating composition having early washout resistance and dirt pick-up resistance. The invention is also particularly useful as a binder used in a traffic paint and as a base coat and/or top coat in exterior insulation finishing systems.
