Average LTV definition
Average LTV means, with respect to any Junior Participation Interest or any Mezzanine Loan, the ratio (expressed as a percentage) obtained by dividing (A) the sum of (x) the Senior LTV of all debt that is senior to or pari passu with such Junior Participation Interest or Mezzanine Loan and (y) the Combined LTV of such Junior Participation Interest or Mezzanine Loan by (B) two (2).
Examples of Average LTV in a sentence
No Seller shall permit (i) the weighted average Purchase Rate of all Mortgage Assets to exceed 85.0% or (ii) the Weighted Average LTV of all Mortgage Assets to exceed 80.0%.
Loan-to-Value Ratio Weighted Average LTV 74% Maximum LTV/CLTV/HCLTV 95/90/90% Maximum LTV/CLTV/HCLTV for Condominiums 90/90/90% Maximum LTV for Cash-out Refinances (without fees) 75% Maximum LTV for Cash-out Refinances (with fee) 80% Maximum Pool % for Cash-out Refinances LTV >75-80% 10% Maximum Pool % for Loans with 2nd Liens & CLTV/HCLTV > 75% 30% Maximum Pool % for >90 to 95% LTV ii.