HELOC Loan definition

HELOC Loan means a home equity line of credit.

HELOC Loan means a home equity line of credit mortgage loan, and includes those loans serviced on the VLS system (and any successor servicing system).

HELOC Loan means an Alternative Lending Loan secured by a Home Equity Mortgage which either (a) has a face amount not in excess of Three Hundred Fifty Thousand Dollars ($350,000.00) or (b) has a face amount in excess of Three Hundred Fifty Thousand Dollars ($350,000.00) and is pre-approved by the Agent in writing in its sole and absolute discretion, provided, however, the aggregate amount of such pre-approved Loans over Three Hundred Fifty Thousand Dollars ($350,000.00) shall in no event exceed Two Million Five Hundred Thousand Dollars ($2,500,000.00), the entire interest of which is owned by the Company and which is subject to a Firm Commitment, provided that (i) no default has occurred and is continuing on such Loan, (ii) such Loan shall have a FICO score equal to or in excess of the requirements of the applicable Approved Investor, (iii) such Loan shall have a combined loan-to-value ratio at origination of not more than ninety-five percent (95%), and (iv) such Loan is not an Aged Loan.

Examples of HELOC Loan in a sentence

• The Note accounted for the $65,000 Second Loan and 12 the $70,000 HELOC Loan.

• When Tran confronted 3 Lauren about the forgeries, Lauren orally agreed to pay back the 4 funds on the same terms as the First Loan and Second Loan, within 5 two years at 10% interest (the "HELOC Loan").

• As to any HELOC Loan and day, the aggregate amount of all Draws conveyed to the Trust with respect to the HELOC Pool pursuant to Section 2.1 of the Sale and Servicing Agreement.

• Any Mortgage Loan other than a HELOC Loan, which has a scheduled Due Date on a day other than the first day of each month shall, for the purposes of this Agreement, be considered due on the first day of the month following the month in which that payment is due.

• Upon the payment in full of any Mortgage Loan, or if a HELOC Loan, the receipt of written notification from the Mortgagor to satisfy their HELOC Loan (provided that no amounts due on such HELOC Loan), the Servicer shall notify the Owner in the Monthly Report, and may request the release of any Mortgage Loan Documents from the Owner or Custodian.

More Definitions of HELOC Loan

HELOC Loan means a home equity line of credit that is a Second Lien Loan.

HELOC Loan means an open-end, revolving, home equity line of credit. “HELOC MLPAs” has the meaning ascribed to it in the Security Agreement. 5254878 08048307 Schedule 1.01-19 Line of Credit Agreement

HELOC Loan. Any revolving line of credit, secured by a lien on a one to four family residential real property, whether or not said line of credit has a loan balance.

HELOC Loan. Any Mortgage Loan originated as a home equity line of credit that is sold pursuant to this Agreement.

HELOC Loan means an Alternative Lending Loan secured by a Home Equity Mortgage.

HELOC Loan means a home equity revolving line of credit secured by a first or second lien; provided, that no second lien home equity revolving line of credit shall have a CLTV greater than 100%.

HELOC Loan means a "home equity" line of credit secured by a first or second priority Mortgage on a Single Family Residence.