Appraisals; Loan to Value Ratio Sample Clauses

Appraisals; Loan to Value Ratio. (a) To the best of Broker's knowledge, the actual loan-to-value ratio of each Loan will not exceed the maximum amount permitted under the Guidelines or by Investors and Insurers for such Loan. (b) In connection with Loan Submissions, all appraisals must be ordered and completed in compliance with all Applicable Requirements, including the AIR. Lender will not accept any appraisal report completed by an appraiser selected, retained, or compensated in any manner by any interested third party (including any real estate agent or broker not approved by the Lender). Appraisals must be ordered through Lender’s approved AMC. (c) Lender will not accept appraisals ordered by a Borrower or by a real estate agent. (d) Broker, or anyone associated with the Broker, will not contact the appraiser regardingvalue or influencing value. Broker agrees to all AIR requirements and certifies on each loan submitted to Lender that AIR has not been violated.
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Appraisals; Loan to Value Ratio. 1. To the best of Broker's knowledge, the actual loan-to-value ratio of each Loan will not exceed the maximum amount permitted under the Guidelines or by Investors and Insurers for such Loan. 2. In connection with Loan Submissions, all appraisals must be ordered and completed in compliance with all Applicable Requirements, including the AIR. Lender will not accept any appraisal report completed by an appraiser selected, retained, or compensated in any manner by any interested third party (including any real estate agent or broker not approved by the Lender). Appraisals must be ordered through Lender’s approved AMC. 3. Lender will not accept appraisals ordered by a Borrower or by a real estate agent. Broker, or anyone associated with the Broker, will not contact the appraiser regarding value or influencing value. Broker agrees to all AIR requirements and certifies on each loan submitted to Lender that AIR has not been violated.
Sample 1
Appraisals; Loan to Value Ratio. The loan-to-value ratio of each Mortgage Loan did not, at the time of origination, exceed the maximum amount permitted by the Applicable Requirements for such Mortgage Loan. The appraisal prepared in connection with each Mortgaged Property provided an accurate estimate of bona fide market value of the Mortgaged Property at the time of origination, was prepared by a qualified appraiser with no direct or indirect interest in the Mortgaged Property, and both the appraisal and the appraiser satisfied all Applicable Requirements;
Sample 1
Appraisals; Loan to Value Ratio. At the time of origination, the actual loan-to-value ratio of each Mortgage Loan did not exceed the maximum amount permitted by the applicable Investor and/or Insurer for such Mortgage Loan and no action has been taken to increase the loan-to-value ratio beyond the maximum permissible amount. To Seller’s knowledge, as of the date the Mortgage Loan was originated, the appraisal prepared in connection with each Mortgaged Property provided an accurate estimate of bona fide market value of the Mortgaged Property at the time of origination. Such appraisal was prepared by a qualified appraiser with no direct or indirect interest in the Mortgaged Property.
Sample 1

Related to Appraisals; Loan to Value Ratio

  • Loan-to-Value Ratio The fraction, expressed as a percentage, the numerator of which is the original principal balance of the related Mortgage Loan and the denominator of which is the Appraised Value of the related Mortgaged Property.

  • Loan to Value The maximum principal amount of the Note does not exceed one hundred twenty-five percent (125%) of the fair market value of the Property as set forth on the appraisal of the Property delivered to Lender.

  • LTV No Mortgage Loan has an LTV greater than 100%;

  • LTV Ratio The gross proceeds of each Mortgage Loan to the related Mortgagor at origination did not exceed the non-contingent principal amount of the Mortgage Loan and either: (a) such Mortgage Loan is secured by an interest in real property having a fair market value (i) at the date the Mortgage Loan was originated, at least equal to 80 percent of the original principal balance of the Mortgage Loan or (ii) at the Closing Date, at least equal to 80 percent of the principal balance of the Mortgage Loan on such date; provided that for purposes hereof, the fair market value of the real property interest must first be reduced by (x) the amount of any lien on the real property interest that is senior to the Mortgage Loan and (y) a proportionate amount of any lien that is in parity with the Mortgage Loan (unless such other lien secures a Mortgage Loan that is cross-collateralized with such Mortgage Loan, in which event the computation described in clauses (a)(i) and (a)(ii) of this paragraph 19 shall be made on a pro rata basis in accordance with the fair market values of the Mortgaged Properties securing such cross-collateralized Mortgage Loans); or (b) substantially all the proceeds of such Mortgage Loan were used to acquire, improve or protect the real property that served as the only security for such Mortgage Loan (other than a recourse feature or other third party credit enhancement within the meaning of Treasury Regulations Section 1.860G-2(a)(1)(ii)).

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from July 25, 2016 through and including August 29, 2016, $10,000,000, (ii) as of any date of determination during the period from August 30, 2016 through and including October 17, 2016, $13,000,000, (iii) as of any date of determination during the period from October 18, 2016 through and including October 31, 2016, $17,500,000, and (iv) as of any date of determination during the period from November 1, 2016 through and including December 31, 2016, $20,000,000.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Liquidity Ratio A Liquidity Ratio of at least 1.50 to 1.00.

  • FUNDING AVAILABILITY This Contract is contingent upon the continued availability of funding. If funds become unavailable through the lack of appropriations, legislative or executive budget cuts, amendment of the Appropriations Act, state agency consolidation or any other disruptions of current appropriations, DFPS will reduce or terminate this Contract.

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

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