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The latest registration statement, prospectus, the newest prospectus complement, and you may people free-composing prospectuses, for instance the mortgage schedule, all of these was recorded with the U
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2. The brand new prospectus supplement discussed the mortgage-to-worth proportion, otherwise LTV, due to the fact « proportion of the dominating balance of such mortgage on big date of dedication to (a) in the case of a purchase, the fresh new decreased of your product sales price of the mortgaged assets and you will its appraised worth in the course of sale or (b) when it comes to an effective refinancing otherwise amendment, the fresh appraised property value this new mortgaged assets during new refinancing otherwise modification. » [Back]
step three. The latest prospectus supplement outlined the fresh new joint mortgage-to-value proportion, otherwise CLTV, just like the « the latest proportion of one’s dominant harmony of your 2nd-lien real estate loan, utilizing the the harmony of related first-lien mortgage loan, on go out of determination in order to (a) in the case of a buy, the fresh less of one’s business cost of this new mortgaged possessions and you will the appraised worth in the course of profit or (b) in the example of a good refinancing otherwise amendment, brand new appraised value of the fresh new mortgaged assets during the time of the fresh new refinancing otherwise modification. » [Back]