CLTV and due for second lien notes

[Ray Trounday]

All,

I understand that CLTV for second lien note takes the loan balance of the first into consideration when arriving at CLTV. My question is as follows:

1. Do you take the unpaid balance of the first and second total to arrive at CLTV?

2. How is ITV calculated?   I want to confirm that you take the original balance of the first plus the amount invested in the second.

3. Is there any value to track what was invested in the second on its own against the property value?  If so, what abbreviated acronym is used to distinguish them.

Thanks

Ray