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 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 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 Master Servicer may, but shall not be required to, make a periodic advance with respect to any High LTV Mortgage Loan for which a Monthly Payment due during the related collection period has not been received as of the close of business on the second Business Day preceding the related Determination Date.

• That has a loan-to-value ratio greater than eighty percent (80%) unless (i) such Mortgage Loan is guaranteed by VA or USDA or is insured by FHA or private mortgage insurance provided by a provider acceptable to the Agent, or (ii) such Mortgage Loan is a High LTV Mortgage Loan or a Rural Development Guaranteed Housing Loan and has a loan-to-value ratio less than one hundred and five percent (105%).

• 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.

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) 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 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 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 Xxxxxx Mae DU Refi Plus or Xxxxxxx Mac LP Open Access program under the Home Affordable Refinance Program (“HARP”), or VA Interest Rate Reduction Refinance Loan (“IRRRL”) program, or (ii) is 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 has the meaning set forth in Exhibit H. "HUD" means the Department of Housing and Urban Development, and any successor agency or other entity. "HUD 203(K) Mortgage Loan" means an FHA-insured closed-end First Mortgage Loan to an individual obligor the proceeds of which will be used for the purpose of rehabilitating and repairing the related single family property, and which satisfies the definition of "rehabilitation loan" in 24 C.F.R. 203.50(a). "Indemnified Liabilities" has the meaning set forth in Section 11.2. "Indemnitees" has the meaning set forth in Section 11.2. "Interest Rate" means, for any Warehousing Advance, the floating rate of interest per annum specified for that Warehousing Advance in Exhibit H. "Interim Statement Date" means the date of (i) with respect to Borrower, Borrower's most recent unaudited financial statements (and, if applicable, Borrower's Subsidiaries, on a consolidated basis), (ii) with respect to Guarantor for each reporting period for each month, Guarantor's most recent unaudited financial statements (and, if applicable, Guarantor's Subsidiaries, on a consolidated basis), and (iii) with respect to Guarantor for each reporting period for each fiscal quarter, Guarantor's most recent unaudited financial statements (and, if applicable, Guarantor's Subsidiaries, on a consolidated and consolidating basis) each as delivered to Lender under the Existing Agreement or this Agreement. "Internal Revenue Code" means the Internal Revenue Code of 1986, Title 26 of the United States Code, and all rules, regulations and interpretations issued under those statutory provisions, as amended, and any subsequent or successor federal income tax law or laws, rules, regulations and interpretations. "Investment Company Act" means the Investment Company Act of 1940 and all rules and regulations promulgated under that statute, as amended, and any successor statute, rules and regulations. "Investor" means Xxxxxx Mae, Xxxxxxx Mac or a financially responsible private institution that Lender deems acceptable, in its sole discretion, to issue Purchase Commitments with respect to a particular category of Eligible Loans. "JPMorgan Chase " means JPMorgan Chase Bank, National Association, Chicago, Illinois, or any

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."

High LTV Mortgage Loan means a loan that would qualify as an Eligible Mortgage Loan except that (i) its loan-to-collateral value ratio is up to 125% or (ii) it has any other characteristic for which the Company Underwriting Guidelines require that it be classified in the same category as its 125% loan-to-collateral value ratio Mortgage Loans.