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Subordinate loan
Subordinate loan A mortgage whose priority is below that of another mortgage.
RELATED TERMS--------------------------------------
Mortgage
A legal document pledging property as security for the payment of a loan.
Priority
The order of position, time or place. The priority of liens is generally determined by the chronological order in which the lien documents are recorded; tax liens, however, have priority even over previously recorded liens.
SIMILAR TERMS--------------------------------------
Subordinate
To place in a rank of lesser importance or to make one claim secondary to another.
Subordinate financing
Any mortgage or other lien that has a priority that is lower than that of the first mortgage.
Subordinated classes
With regard to CMBS, describes those classes with the lowest priority to receive payments from the underlying mortgage loans.
Subordination
The process of sharing the risk of credit losses disproportionately among two or more classes of securities.
Subordination agreement
A written agreement between lienholders to change the priority of mortgage, judgment and other liens.
Subordination clause
A clause in which the holder of a mortgage permits a subsequent mortgage to take priority.
Subotica property
Property in Subotica, Serbia and Montenegro. Apartments, flats, houses, offices and other property in Subotica.
PREVIOUS AND NEXT TERMS--------------------------------------
Sublessee
A person or identity to whom the rights of use and occupancy under a lease have been conveyed, while the original lessee retains primary responsibility for the obligations of the lease.
Sublet
The partial transfer of a tenant's right in a rental property to a third party.
Subletting
The leasing of space from one tenant to another tenant.
Subordinate
To place in a rank of lesser importance or to make one claim secondary to another.
Subordinate financing
Any mortgage or other lien that has a priority that is lower than that of the first mortgage.
Subordinate loan
Subordinated classes
With regard to CMBS, describes those classes with the lowest priority to receive payments from the underlying mortgage loans.
Subordination
The process of sharing the risk of credit losses disproportionately among two or more classes of securities.
Subordination agreement
A written agreement between lienholders to change the priority of mortgage, judgment and other liens.
Subordination clause
A clause in which the holder of a mortgage permits a subsequent mortgage to take priority.
Subprime borrower
A borrower with a less-than-perfect credit report due to late payments or a default on debt payments.
This dictionary contains 6433 terms. |
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