HIGH CLTV LOANS definition

HIGH CLTV LOANS. At any time, collectively, all the Mortgage Loans which have been identified as such on the Mortgage Loan Schedule. IMPAC HOLDINGS: Impac Mortgage Holdings, Inc., a Maryland corporation, and its successors and assigns.
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HIGH CLTV LOANS. Group 1 Loans that are secured by second liens and were originated with a limited expectation of recovering any amounts from the foreclosure of the related Mortgaged Property and are underwritten with an emphasis on the creditworthiness of the related borrower.
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Related to HIGH CLTV LOANS

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • Second Lien Loans means the “Loans” as defined in the Second Lien Credit Agreement and shall, for the avoidance of doubt, include Incremental Second Lien Loans.

  • First Lien Loans means the loans made under the First Lien Credit Agreement.

  • Original Loans means the loans and other extensions of credit outstanding under the Original Credit Agreement as of the Effective Date.

  • or "Loans means and includes without limitation any and all commercial loans and financial accommodations from Lender to Borrower, whether now or hereafter existing, and however evidenced, including without limitation those loans and financial accommodations described herein or described on any exhibit or schedule attached to this Agreement from time to time.

  • Existing Loans shall have the meaning assigned to such term in Section 2.21(a).

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

  • Group I Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group I Loans.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Mezzanine Loans means, collectively, the First Mezzanine Loan, the Second Mezzanine Loan, the Third Mezzanine Loan, the Fourth Mezzanine Loan, the Fifth Mezzanine Loan, the Sixth Mezzanine Loan, the Seventh Mezzanine Loan, the Eighth Mezzanine Loan, the Ninth Mezzanine Loan and any New Mezzanine Loan.

  • Senior Loans means the loans and other extensions of credit made by the Senior Lenders to Borrower pursuant to the Senior Credit Agreement.

  • Group II Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group II Loans.

  • Group 1 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 1 Mortgage Loans.

  • Bridge Loans means the Loans (as defined in the Bridge Credit Agreement).

  • Revolving Facility Loans shall include the Other Revolving Loans.

  • U.S. Revolving Loans has the meaning set forth in Section 2.1(a).

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of February 27, 2006 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer") anx X.X. Bank National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the Group II-A Distribution Amount for the Class II-A-7 Certificates required to be distributed to Holders of the Class II-A-7 Certificates on such Distribution Date, subject to adjustment in certain events as specified in the Agreement. Distributions in reduction of the Principal Balance of certain Classes of Class A Certificates may not commence on the first Distribution Date specified above. Distributions of principal will be allocated among the Classes of Group II-A Certificates in accordance with the provisions of the Agreement. The pass-through rate on the Class II-A-7 Certificates applicable to each Distribution Date will be 5.500% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest portion of certain Realized Losses allocated to the Class II-A-7 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person is entitled to receive payments by wire transfer in immediately available funds in accordance with the Agreement and such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

  • Initial Loans means the Eligible Loans evidenced by the Notes sold on the Closing Date pursuant to the Initial Purchase Agreement and related documentation, together with any guaranties and other rights relating thereto including, without limitation, Interest Subsidy Payments and Special Allowance Payments.

  • Total Loans at any time, the aggregate principal amount of the Loans of the Lenders outstanding at such time (after converting the outstanding principal amount of any Loans denominated in the Optional Currency into the Dollar Equivalent thereof at such time).

  • Group I Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group I Mortgage Loans.

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(a).

  • Refinanced Loans has the meaning specified in Section 10.01.

  • Group 2 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 2 Mortgage Loans.

  • Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.

  • Home Equity Loans means loans or funded portions of lines of credit secured by mortgages on one-to four-family residences or stock of cooperative housing associations, where the Failed Bank did not have a first lien on the same property as collateral.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.