LTV definition

LTV means with respect to any Mortgage Loan, the ratio of the original outstanding principal amount of the Mortgage Loan to the lesser of (a) the Appraised Value of the Mortgaged Property at origination or (b) if the Mortgaged Property was purchased within 12 months of the origination of the Mortgage Loan, the purchase price of the Mortgaged Property.

LTV. With respect to any first lien Mortgage Loan and as of any date of determination, the fraction, expressed as a percentage, the numerator of which is the principal balance of the related Mortgage Loan at such date and the denominator of which is the Value of the related Mortgaged Property. With respect to any second lien Mortgage Loan and as of any date of determination, the fraction, expressed as a percentage, the numerator of which is the sum of (a) the principal balance of the related Mortgage Loan at the date of origination plus (b) the principal balance of the related First Lien at the date of origination of such mortgage loan and the denominator of which is the Value of the related Mortgaged Property.

LTV. With respect to any Mortgage Loan, the original principal balance of such Mortgage Loan divided by the lesser of the Appraised Value of the related Mortgaged Property or the purchase price.

Examples of LTV in a sentence

• Any Additional Collateral may be released if the Issuer provides to the Trustee evidence (based on a Valuation no older than 3 months) that the LTV is 70 per cent or lower, calculated on a pro forma basis taking into account such release.

• The Issuer shall not make any distribution to its shareholders unless: the Issuer documents to the Trustee that the LTV (based on a Valuation not older than 3 months at the time of the distribution) is less than 70 per cent on a pro forma basis taking into account the relevant distribution; and no event of default has occurred or will occur by the making of the distribution.

• If, at any time, the LTV exceeds 75 per cent, the Issuer shall: promptly upon becoming aware of it, inform the Trustee; and if so required by the Trustee by written notice to the Issuer, either (and at the discretion of the Trustee) provide Additional Collateral or redeem Bonds at a price of 100 per cent of the Nominal Amount (plus accrued and unpaid interest) and FIX Bonds (on a pro rata basis) within two months of such written notice in an amount sufficient to reduce the LTV to 75 per cent or lower.

• If, at any time, the LTV exceeds 75 per cent, the Issuer shall: promptly upon becoming aware of it, inform the Trustee; and if so required by the Trustee by written notice to the Issuer, either (and at the discretion of the Trustee) provide Additional Collateral or redeem Bonds at a price of 100 per cent of the Nominal Amount (plus accrued and unpaid interest) and FRN Bonds (on a pro rata basis) within two months of such written notice in an amount sufficient to reduce the LTV to 75 per cent or lower.

More Definitions of LTV

LTV. With respect to any Mortgage Loan as of its date of origination, the ratio on such date borne by the original Principal Balance of the Mortgage Loan to the Appraised Value of the related Mortgaged Property.

LTV. With respect to any Mortgage Loan, the ratio (expressed as a percentage) of the Stated Principal Balance (or the original principal balance, if so indicated) of such Mortgage Loan as of the date of determination to the Appraised Value of the related Mortgaged Property.

LTV means, with respect to a Mortgage Loan, the Loan-to-Value ratio, determined as the ratio between the value of a Real Estate Asset and the value of the relevant Mortgage Loan as calculated in accordance with the applicable Prudential Regulations.

LTV. With respect to any Mortgage Loan, as of any date on which a determination thereof is made, the ratio on such date of the outstanding principal balance of such Mortgage Loan to the Appraisal Value of the related Mortgaged Property.

LTV. With respect to any Mortgage Loan, the original principal balance of such Mortgage Loan divided by the lesser of the Appraised Value of the related Mortgaged Property or the purchase price. The Loan-to-Value Ratio of any Pledged Asset Mortgage Loan shall be calculated by reducing the principal balance of such Pledged Asset Mortgage Loan by the amount of the Original Pledged Asset Requirement with respect to such Mortgage Loan. This is referred to in the PHH Guide as the effective loan-to-value ratio.

LTV means the ratio of the loan amount (or unpaid principal balance) of any Mortgage Loan to the real property Collateral that secures that Mortgage Loan.

LTV means, with respect to any Receivable, the ratio, at the time of origination, of (i) the amount financed of such Receivable to (ii) the wholesale book value of the related Financed Vehicle as set forth in the Kxxxx Blue Book®, the NADA Official Used Car Guide® or the Black Book Wholesale Average Condition.