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 special obligation bonds are payable by a PST and CST revenues (collectively, the dedicated revenues) on a subordinate lien basis.
Fannie Mae on March 29 introduced HomeStyle Energy mortgages, a loan product that allows borrowers to finance energy-efficient upgrades when purchasing or refinancing a home and eliminates the need for a subordinate lien, a home equity line of credit, a Property Assessed Clean Energy loan or an unsecured loan.
The data released Tuesday shows the disposition of loan applications, as well as whether a loan is subject to the Home Ownership and Equity Protection Act, and whether a loan is secured by a first or subordinate lien or is unsecured.
An SBA 504 loan is just a tremendous financing option for banks and companies to consider when they are expanding their real estate or equipment needs due to the 10 & 20 year fixed rates, minimum 10% equity requirement, and subordinate lien position.
Fitch Ratings assigns an 'A+' rating to the city of Houston, TX's $450 million airport system subordinate lien revenue refunding bonds, series 2011A and 2011B, issued on behalf of Houston Airport.
The Board changed the Annual Percentage Rate (APR) spread in the final rule for first lien and subordinate lien loans to 1.5 and 3.5 percentage points, respectively, above the "average prime offer rate" (APOR).
Additionally, Fitch has also affirmed the 'AA-' rating on the commission's approximately USD788.6m of outstanding senior lien revenue bonds and its 'A' rating on the commission's approximately USD827.6m outstanding subordinate lien bonds.
The 2002 revisions to Regulation C require lenders to collect and report data including loan pricing information (the rate spread between the annual percentage rate on the loan and the yield on Treasury securities of comparable maturity); whether the loan is subject to the Home Ownership and Equity Protection Act; whether manufactured housing is involved; whether the loan is secured by a first or subordinate lien on the property; and certain information about requests for preapproval.
--$3.3 billion outstanding senior lien and subordinate lien water revenue bonds and term bonds at 'AA+';
Moody's Investors Service announced this week that Hartsfield-Jackson Atlanta International Airport s general revenue bonds have been upgraded to 3 from A1 on the airport passenger facility charge (PFC) and subordinate lien revenue bonds.
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.
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).