High LTV Mortgage Loan definition

High LTV Mortgage Loan has the meaning set forth in Exhibit H.

High LTV Mortgage Loan means a Mortgage Loan that is a FHA/VA/USDA and Agency eligible loan that has up-front mortgage insurance premiums added to the principal amount of such mortgage loan, and would be an Eligible Mortgage Loan except that the combined loan-to- value ratio of such Mortgage Loan (including the mortgage insurance premiums in the principal) exceeds one hundred percent (100%) of the value of the property subject to such mortgage, provided that the combined loan-to-value ratio does not exceed one hundred and five percent (105%).

High LTV Mortgage Loan means a Mortgage Loan made to a mortgagor, with a Credit Score of 630 or better, of which the sum of the maximum amount available to be borrowed thereunder (whether or not borrowed) at the time of origination plus the Mortgage Note Amounts of all other Mortgage Loans secured by the related improved real property exceeds one hundred percent (100%) and is less than or equal to one hundred twenty-five percent (125%) of the appraised value of such related improved real property.

Examples of High LTV Mortgage Loan in a sentence

• The LTV of any Agency High LTV Mortgage Loan meets the requirements of the “High LTV Refinance Option” program implemented by Xxxxxx Xxx or the “Enhanced Relief Refinance” program implemented by Xxxxxxx Mac, as applicable.

• All calculations of interest hereunder that are made in respect of any High LTV Mortgage Loan or any HEL originated before January 1, 2000 shall be made either on a daily basis using a 365/366-day year or on the basis of a 360-day year assumed to consist of twelve 30-day months, except upon loan payoff, when interest is calculated on an actual 365/366 day basis.

• The LTV of any Agency High LTV Mortgage Loan meets the requirements of the “High LTV Refinance Option” program implemented by Fxxxxx Mxx or the “Enhanced Relief Refinance” program implemented by Fxxxxxx Mac, as applicable.

• All calculations of interest hereunder that are made in respect of substantially all HELOCs originated by Providian National Bank, any High LTV Mortgage Loan or any HEL originated before January 1, 2000 shall be made either on a daily basis using a 365/366-day year; or on the basis of a 360-day year assumed to consist of twelve 30-day months, except upon loan payoff, when interest is calculated on an actual 365/366 day basis.

• External agencies will be invited to these discussions where necessary.

More Definitions of High LTV Mortgage Loan

High LTV Mortgage Loan means a (a) first-lien Mortgage Loan for which the loan-to-value ratio is greater than (i) [***] for a government insured first-lien Mortgage Loan; or (ii) [***] for a first-lien Mortgage Loan that is not government insured; or (b) second-lien Mortgage Loan with a combined loan-to-value ratio of greater than [***].

High LTV Mortgage Loan means a Mortgage Loan that has a loan-to-value ratio greater than one hundred percent (100%) and is underwritten pursuant to and in compliance with an Agency Program that permits loan-to-value ratios greater than one hundred percent (100%).

High LTV Mortgage Loan means (a) a Conforming Mortgage Loan originated using “Desktop Underwriter” for underwriting pursuant to (i) Xxxxxx Xxx DU Refi Plus with an LTV not to exceed 105% or (ii) Xxxxxx Mae Refi Plus with an LTV not to exceed 115% or (b) any Conforming Mortgage Loan originated pursuant to the guidelines for a comparable product offered by Xxxxxxx Mac.

High LTV Mortgage Loan means a Mortgage Loan that is a first-priority Single-family Loan that (i) is originated in compliance with, and fully conforms to all underwriting criteria applicable to VA Interest Rate Reduction Refinance Loan (“IRRRL”) program, or (ii) is FHA insured, VA guaranteed or guaranteed or provided under the USDA Rural Development program and has a loan-to-value ratio in excess of one hundred percent (100%) but not greater than one hundred and five percent (105%), calculated after giving effect to any mortgage insurance, guaranty or funding fees. Advance rates may be based upon unpaid principal balance.

High LTV Mortgage Loan means an Eligible Mortgage Loan that has a Loan-to-Value or Combined Loan-to-Value Ratio greater than 90%, but not in excess of 100%.

High LTV Mortgage Loan means a Single-family Mortgage Loan that (a) is not a Subprime Mortgage Loan; (b) complies with all applicable underwriting guidelines and other requirements of an Investor relating to its purchase of such Mortgage Loan; (c) has a combined loan-to-collateral value ratio not less than 100% (ratio to be based upon all loans, including such Mortgage Loan and all loans secured by the Mortgaged Property securing such Mortgage Loan) but not more than 125%; (d) is secured by a Second Mortgage; and (e) is covered by a specific Purchase Commitment with respect to which there is no condition which cannot be reasonably anticipated to be satisfied or complied with before its expiration and has been prior approved by the Investor for purchase.

High LTV Mortgage Loan means an Eligible Mortgage Loan of the type described in the proviso to subparagraph (v) of the definition of "Eligible Mortgage Loan."