Piggyback Loan definition
Piggyback Loan. A second lien Mortgage Loan originated by the same originator to the same borrower at the same time as the first lien Mortgage Loan, each secured by the same Mortgaged Property.
Piggyback Loan. “Second Lien Loan”, “Second Lien Loan/HELOC Sublimit” and “Unfunded HELOC Commitment”.
Piggyback Loan means a Second Mortgage Loan where the Mortgaged Premises are subject to a first Mortgage Loan that is a Purchased Loan.