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The newest membership statement, prospectus, brand new prospectus complement, and any totally free-composing prospectuses, like the mortgage loan schedule, which is filed toward U

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2. The prospectus supplement laid out the loan-to-worth proportion, or LTV, once the “ratio of your own dominant balance of such mortgage at go out regarding devotion so you can (a) in the case of a purchase, brand new minimal of one’s selling price of new mortgaged possessions and you may their appraised worth during the time of profit otherwise (b) regarding a beneficial refinancing otherwise amendment, the fresh appraised value of new mortgaged assets during the time of this new refinancing or modification.” [Back]

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step 3. The fresh new prospectus enhance outlined the new mutual loan-to-really worth proportion, otherwise CLTV, once the “the fresh ratio of prominent balance of second-lien mortgage loan, making use of the the equilibrium of one’s relevant very first-lien real estate loan, during the date out-of devotion to help you (a) in the case of a buy, new smaller of your own profit price of the mortgaged property and you may its appraised really worth in the course of product sales or (b) in the example of a refinancing or modification, new appraised property value the fresh new mortgaged possessions at the time of this new refinancing or modification.” [Back]