What happens once my LTV reaches 90%?

Liquidation is triggered automatically and immediately at 90% LTV. There's no separate notice window once that threshold is hit, so it's important to act while your account is still in LTV Notice status. We recommend monitoring your LTV directly on your dashboard.

How much collateral actually gets sold during a liquidation?

Only enough to bring your account back down to approximately 85% LTV, not back to your original starting LTV. This means a smaller, more limited sale of collateral than under the previous standard. There is also no liquidation fee. APX does not charge you anything for the collateral that gets sold.

Is there a fee when my collateral is liquidated?

No. As of August 18, 2026, APX has eliminated liquidation fees entirely. This fee was previously 5%; it is now 0%. You will not be charged for the collateral sold to bring your account back to approximately 85% LTV.

Can you give an example?

Say you have:

• $100,000 of collateral
• $90,000 outstanding loan balance

That puts your LTV at 90%, triggering liquidation.

Under a full-liquidation model with no fee, $90,000 of your collateral would be sold to close out the loan, leaving you with $10,000. Under a full-liquidation model with a typical 5% liquidation fee, $94,737 would need to be sold, $90,000 to repay the loan plus $4,737 in fees, leaving you with just $5,263.

Under the 90/85 Standard, APX sells only $33,333 of collateral and applies it against the loan. You would be left with:

• $66,667 of collateral ($100,000 minus $33,333)
• $56,667 outstanding loan balance ($90,000 minus $33,333)
• 85% LTV (56,667 divided by 66,667)

Because APX has eliminated liquidation fees, there's no additional charge eating into the collateral being preserved. Same borrower, same 90% LTV, three very different outcomes:

• Full liquidation, 0% fee: $10,000 of collateral remains
• Full liquidation, 5% fee: $5,263 of collateral remains
• APX 90/85 Standard, 0% fee: $66,667 of collateral remains

Instead of being left with as little as $5,263, you keep $66,667 of your original collateral position.