subordinate lien

subordinate lien

Any subsequent (second, third, fourth, etc.) mortgage lien. In the event of foreclosure, holders of such liens may resort to the property for payment only to the extent of any surplus after prior liens have been paid off. Priority is usually determined by the chronological sequence in which the mortgages were created, but may be varied by agreement among the parties.
References in periodicals archive ?
The new service allows mortgage servicers to identify a match between a first and a subordinate lien and then transport this data from one servicer to another, which supports co-modification efforts for subordinate hens following a first-lien modification.
The new service allows mortgage servicers to identify a match between a first and a subordinate lien and then transport this vital data from one servicer to another, which supports co-modification efforts for subordinate liens following a first-lien modification.
Fitch Ratings has assigned an underlying 'A+' rating to the city of Houston, Texas' USD395m airport system subordinate lien revenue refunding bonds series 2007A (AMT) and series 2007B (non-AMT).
After the sale, the lender may apply the proceeds to satisfy the reasonable expenses of the sale, including attorney fees and auctioneer fees; the satisfaction of the borrower's outstanding balance under the loan; and the satisfaction of any sums owed to subordinate lien holders or secured parties.
3 million of series 2012C subordinate lien airport system revenue bonds at 'BB+'.
New Unit Will Focus Specifically on Solutions for Subordinate Lien Servicers -
Bankers Trust argued that the condominium statute permits it as a first mortgagee to foreclose out the subordinate lien for common charges which liens may be satisfied only out of any surplus monies generated by the foreclosure sale.
is supporting and urging the swift passage of The Fast Help For Homeowners (FHFH) Act, a short sale bill that will require subordinate lien holders to respond to short sale offers within 45 days.
NEW YORK, May 4 /PRNewswire/ -- The Board of Regents of the Texas A&M University System's $15 million Permanent University Fund (PUF) subordinate lien notes, series B, are rated 'AAA/F1+' by Fitch IBCA.
4 million hotel occupancy tax (HOT) subordinate lien revenue & refunding, series 2004A, at 'A+';
5 /PRNewswire/ -- City of Austin (TX) Combined Utility System's (Austin) $103 million subordinate lien revenue refunding bonds, series 1998, and $105 million subordinate lien revenue refunding bonds, series 1998A, are rated 'A' by Fitch IBCA.
3 million subordinate lien bonds, series 2010A (Federally Taxable Build America Bonds);