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Subprime lenders
Subprime lenders Lenders who specialize in B, C, or D catagory paper.
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Paper
A mortgage, deed of trust or land contract which is given instead of cash.
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Subprime borrower
A borrower with a less-than-perfect credit report due to late payments or a default on debt payments.
Subprime mortgage
A mortgage granted to a borrower considered subprime, that is, a person with a less-than-perfect credit report. Subprime borrowers have either missed payments on a debt or have been late with payments.
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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.
Subprime lenders
Subprime mortgage
A mortgage granted to a borrower considered subprime, that is, a person with a less-than-perfect credit report. Subprime borrowers have either missed payments on a debt or have been late with payments.
Subrogation
The substitution of one creditor for another, with the substituted person succeeding to the legal rights and claims of the original claimant.
Subscribe
1) To give, pay, or pledge (a sum of money) as a contribution, investment, etc. 2) To append one's signature or mark to (a document), as in approval or attestation of its contents.
Subscribing witness
The witness to the execution of an instrument who has written his name as proof of seeing such execution.
Substitute of trustee
A document which is recorded to change the trustee under the deed of trust.
This dictionary contains 6433 terms. |
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