Template:Nutshell GMSLA Net Loan Exposure

Net Loan Exposure:

• If the aggregate Market Value of Posted Collateral between the Borrower and any one Principal exceeds the total Required Collateral Value for all Agency Loans between them, Borrower has a Net Loan Exposure to that Principal equal to that excess.
  
• If it is less than the Required Collateral Value, the Principal has a Net Loan Exposure to Borrower equal to the shortfall.