HLTV definition

HLTV means those Mortgage Loans identified on the Mortgage Loan Schedule as HLTV Mortgage Loans, which Mortgage Loans shall consist of each and every Mortgage Loan assigned to the Issuer that was originated as a high loan-to-value mortgage loan.
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Examples of HLTV in a sentence

  • Upon termination of the Trust Fund, any amounts remaining in the HLTV Reserve Account shall be distributed to the Seller.

  • All calculations of interest hereunder that are made in respect of any HLTV 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 HLTV Reserve Account will not be an asset of the Trust Fund or any REMIC and shall be an "outside reserve fund" within the meaning of the REMIC Provisions that is beneficially owned by the Seller for federal income tax purposes.

  • The HLTV Reserve Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement.

  • Thereafter, upon the liquidation of each HLTV Loan, an amount equal to the related HLTV Account Allocation will be transferred on each Distribution Date to the Distribution Account as a portion of Available Funds for the related Loan Group.

  • Holders of the Certificates will be entitled to receive payments from the HLTV Reserve Account to the extent of amounts on deposit therein in an amount equal to any required HLTV Account Allocation.

  • The Master Servicer shall foreclose upon or otherwise comparably effect the ownership on behalf of the Trust of the Mortgaged Properties relating to defaulted HLTV Loans if the Master Servicer determines that the potential net recovery justifies foreclosure.

  • The Master Servicer shall not be required to cause to be maintained flood insurance for any HLTV Loan secured by a lien other than a first priority lien that was originated by an Unaffiliated Originator which, by virtue of its license requirements, was not required to obtain flood insurance.

  • In the absence of such written direction, all funds in the HLTV Reserve Account shall be invested by the Trustee in _________________________________________ Vista Money Market Fund.

  • With respect to any HLTV Loan originated by an Unaffiliated Originator, the Master Servicer shall not be required to cause to be maintained a hazard insurance policy for any HLTV Loan which is secured by a lien other than a first priority lien.