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First lien
First lien Primary claim by the lender for satisfaction of outstanding debt. A first mortgage creates a first lien.
RELATED TERMS--------------------------------------
Lender
A term which can refer to the institution making the loan or to the individual representing the firm.
Debt
An amount owed to another.
Mortgage
A legal document pledging property as security for the payment of a loan.
Lien
A charge or claim by one party on the property of another as security for the payment of a debt.
SIMILAR TERMS--------------------------------------
First charge
If your property is collateral for more than one property and the borrower defaults on payments, the lender with First Charge has the option to repossess the home.
First mortgage
Mortgage holding priority over the claims of subsequent lenders against the same property.
First refusal right, or right of first refusal
A lease clause giving a tenant the first opportunity to buy a property or lease additional space in a property at the same price and on the same terms and conditions as those contained in a third-party offer that the owner has expressed a willingness to accept
First Time Buyer (FTB)
Someone who is buying a home for the first time.
First-generation space
Generally refers to new space that is currently available for lease and has never before been occupied by a tenant
First-loss position
The position in a security that will suffer the first economic loss if the underlying assets lose value or are foreclosed on.
PREVIOUS AND NEXT TERMS--------------------------------------
Fire insurance requirement form
A statement signed by the "borrower" agreeing to comply with the lender's requirements for fire insurance coverage.
Fire rating
A rating of the length of time it takes a fire to penetrate a barrier. Designates the ability of a material to contain a fire in a carefully controlled test setting for a specified period of time.
Fire wall
A buffer composed of fire-resistant material.
Firm commitment
A lender’s agreement to make a loan to a specific borrower on a specific property.
First charge
If your property is collateral for more than one property and the borrower defaults on payments, the lender with First Charge has the option to repossess the home.
First lien
First mortgage
Mortgage holding priority over the claims of subsequent lenders against the same property.
First refusal right, or right of first refusal
A lease clause giving a tenant the first opportunity to buy a property or lease additional space in a property at the same price and on the same terms and conditions as those contained in a third-party offer that the owner has expressed a willingness to accept
First Time Buyer (FTB)
Someone who is buying a home for the first time.
First-generation space
Generally refers to new space that is currently available for lease and has never before been occupied by a tenant
First-loss position
The position in a security that will suffer the first economic loss if the underlying assets lose value or are foreclosed on.
This dictionary contains 6433 terms. |
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