Combined Loan-to-Value Ratio. The fraction, expressed as a percentage, the numerator of which is the sum of (x) the original principal balance of the related Mortgage Loan and (y) the outstanding principal balance at the date of origination of the Mortgage Loan of any senior mortgage loan, and the denominator of which is the Appraised Value of the related Mortgaged Property.
Combined Loan-to-Value Ratio. At the time of its origination (and, in the case of a Mortgage Loan that has been modified, at the time of origination and at the time such Mortgage Loan was modified), no Mortgage Loan had a Combined Loan-to-Value Ratio of greater than 100%.
Combined Loan-to-Value Ratio. As of any date and as to any Mortgage Loan, the ratio, expressed as a percentage, of the (a) sum of (i) the Stated Principal Balance (or the original principal balance, if so indicated) of such Mortgage Loan and (ii) the Stated Principal Balance (or the original principal balance, if so indicated) as of such date of any mortgage loan or mortgage loans that are senior or equal in priority to the Mortgage Loan and which are secured by the same Mortgaged Property to (b) the Appraised Value of the related Mortgaged Property.
Combined Loan-to-Value Ratio. With respect to any Loan and as to any date of determination, the fraction, expressed as a percentage, the numerator of which is the principal balance of such Loan at the date of origination plus, in the case of a Second Lien Loan, the outstanding principal balance of the related first lien mortgage loan on the date of origination of such Second Lien Loan, and the denominator of which is the Collateral Value of the related Mortgaged Property.
Combined Loan-to-Value Ratio. No Mortgage Loan has a CLTV of greater than 100%;
Combined Loan-to-Value Ratio. No HELOC has a Combined Loan-to-Value Ratio in excess of 100% at the time of origination or purchase by the Seller.
Combined Loan-to-Value Ratio. With respect to any Junior Mortgage Loan, the fraction, expressed as a percentage, the numerator of which is equal to the Principal Balance of such Mortgage Loan as of the Cut-off Date, plus the aggregate outstanding principal balance of the mortgage loan senior thereto, and the denominator of which is equal to the value of the related Mortgaged Property on the basis of (i) the lesser of the appraised value at origination or the sales price of such Mortgaged Property or (ii) a broker price opinion prepared after origination.
Combined Loan-to-Value Ratio. No HELOC or Closed End Second Mortgage Loan has a Combined Loan-to-Value Ratio in excess of 100% at the time of origination or purchase by Seller.
Combined Loan-to-Value Ratio. The ratio (expressed as a percentage) of (a) the outstanding principal balance of the Mortgage Loan, plus the outstanding principal balance of any loan secured by a prior lien on the related Mortgaged Property to (b) the Appraised Value of the related Mortgaged Property.
Combined Loan-to-Value Ratio. With respect to any HELOC, the ratio expressed as a percentage of (i) the Credit Limit of the HELOC plus the amount of any related senior mortgage loans to the lesser of (ii)(a) the Appraised Value of the Mortgaged Property and (b) if the HELOC was made to finance the acquisition of the related Mortgaged Property, the purchase price of the Mortgaged Property.
