High LTV Loan definition

High LTV Loan means a Mortgage Loan having a Loan to Value Ratio in excess of (a) with respect to FHA Loans or VA Loans, 97.75% (other than Streamlined Mortgage Loans); (b) with respect to all other Mortgage Loans, 95%; or (c) such lower percentage as may be set forth in the Underwriting Guidelines.
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High LTV Loan shall have the meaning given to such term in the Pricing Side Letter.
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High LTV Loan and “Jumbo Mortgage Loan” as set forth below and by deleting the terms “Mortgage Loan” and “Termination Date” in their entirety and replacing them as set forth below:
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Examples of High LTV Loan in a sentence

  • In addition, prior to each Payment Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Collection Period and the total amount of Realized Losses incurred due to a High LTV Loan being 180 days or more delinquent.

  • The Master Servicer will include in the Determination Date Report a list of each ARM Loan or High LTV Loan for which it does not make an Advance in accordance with this Section.

  • Such an Officer's Certificate is not required with respect to to the Master Servicer's determination not to make an Advance in connection with a High LTV Loan.

  • Buyer shall not use the information received from Seller or Servicer to solicit High LTV Loan and 125 Loan business from Mortgagors of the Loans; provided, however, that such information (other than that obtained from rejected loans) may be used by Buyer except loans rejected to solicit business from such Mortgagors for other loan products of Buyer.

  • The amount of each Realized Loss shall be evidenced by an Officer's Certificate delivered to the Indenture Trustee and the Bond Insurer with the related Remittance Report in the month following the month during which the High LTV Loan becomes 180 days delinquent.

  • No Mortgage Loans other than a High LTV Loan has a Loan-to-Value Ratio of more than 90%.

  • The amount of each Realized Loss shall be evidenced by an Officer's Certificate delivered to the Indenture Trustee and the Bond Insurer with the related Determination Date Report in the month following the month during which the High LTV Loan becomes 180 days delinquent.

  • The Master Servicer will include in the Remittance Report a list of each Non-High LTV Loan or High LTV Loan for which it does not make an Advance in accordance with this Section.


More Definitions of High LTV Loan

High LTV Loan means a Mortgage Loan which, in the case of a First Lien Mortgage Loan, had a Loan-to-Value Ratio at origination in excess of 95%, but not greater than 107%, and in the case of a Second Lien Mortgage Loan, had a combined loan-to-value ratio at origination in excess of 100%, but not greater than 125% and, in either case, was underwritten in accordance with the applicable Underwriting Guidelines.
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High LTV Loan means a Loan having a loan-to-value ratio between 95% and 100%.
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High LTV Loan. Those loans which comply with the Underwriting Guidelines and the other terms and conditions of this Agreement and which have an LTV not exceeding 100%.
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Related to High LTV Loan

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • PPP Loan means (i) any covered loan under paragraph (36) of Section 7(a) of the Small Business Act (15 U.S.C. 636(a)), as added by Section 1102 of the CARES Act, or (ii) any loan that is an extension or expansion of, or is similar to, any covered loan described in clause (i).

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • Project Loan means the loan made by the Governmental Lender to the Borrower pursuant to the Project Loan Agreement in the original principal amount of $[AMOUNT], as evidenced by the Project Note.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Sub-loan means a loan made or proposed to be made out of the proceeds of the Loan to a Beneficiary for a Development Project;

  • Wet Loan means a wet-funded first or second lien Mortgage Loan which is underwritten in accordance with the Underwriting Guidelines and does not contain all the required Mortgage Loan Documents in the Mortgage File.

  • Co-op Loan A Mortgage Loan secured by the pledge of stock allocated to a dwelling unit in a residential cooperative housing corporation and a collateral assignment of the related Co-op Lease.

  • Subsidiary Loan means any loan made pursuant to a Subsidiary Loan Agreement;

  • Buydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.

  • MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.

  • Cov-Lite Loan A Collateral Obligation the Underlying Documents for which do not (i) contain any financial covenants or (ii) require the Obligor thereunder to comply with any Maintenance Covenant (regardless of whether compliance with one or more Incurrence Covenants is otherwise required by such Underlying Documents); provided that, notwithstanding the foregoing, a Collateral Obligation shall be deemed for all purposes (other than the S&P Recovery Rate for such Collateral Obligation) not to be a Cov-Lite Loan if the Underlying Documents for such Collateral Obligation contain a cross-default or cross acceleration provision to, or such Collateral Obligation is pari passu with, another loan, debt obligation or credit facility of the underlying Obligor that contains one or more Maintenance Covenants.

  • Existing Loan means the loan identified on Exhibit H.

  • DIP Loan Any Loan (i) with respect to which the related Obligor is a debtor-in-possession as defined under the Bankruptcy Code, (ii) which has the priority allowed pursuant to Section 364 of the Bankruptcy Code and (iii) the terms of which have been approved by a court of competent jurisdiction (the enforceability of which is not subject to any pending contested matter or proceeding).

  • Collateral Loan means a loan, debt obligation, debt security or participation therein acquired by the Borrower.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Senior Loan has the meaning provided in the Recitals hereto.

  • Mezzanine Loan means a mezzanine loan secured by equity interests in the Mortgage Loan Borrower.

  • Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Jumbo Loan means a Mortgage Loan (other than a Conforming Loan) that (1) is underwritten by an Approved Investor (other than Xxxxxx Xxx, Xxxxxxx Mac or Xxxxxx Mae), (2) matches all applicable requirements for purchase under the requirements of a Take-Out Commitment issued for the purchase of such Mortgage Loan, (3) differs from a Conforming Loan solely because the principal amount of such Mortgage Loan exceeds the limit set for Conforming Loans by Xxxxxx Xxx or Xxxxxxx Mac from time to time, and (4) is a First Lien Mortgage Loan.

  • CD Loan means a Committed Loan to be made by a Bank as a CD Loan in accordance with the applicable Notice of Committed Borrowing.