Subordinate Financing

Subordinate Financing

A second mortgage on a property that is not paid off when the first mortgage is refinanced.

The second mortgage lender must allow subordination of the second to the new first mortgage. See Second Mortgage/Subordination by Second Mortgage Lender.

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The client required $6 million for property improvements and wanted to lock-in long-term low rates loan while reducing their debt service coverage to more easily secure subordinate financing during the new term," said Geller.
Matthew Kellow, Managing Director, Subordinate Financing with BDC commented, BlackBridge is a dynamic, growth-oriented, and forward-thinking company that is a great example of the type of company we are looking to partner with over the long-term.
Additional points also apply to certain cash-out refinance transactions, certain condominium transactions, and some transactions with subordinate financing that will reflect on the Good Faith Estimate and/or Settlement Statement.
Jeff Hill, the managing director of subordinate financing for BDC Capital, said, in a joint statement with Marvin Junop and Mark Lunick, the BDC Capital managers, 'Over the past several months, we have worked closely with iLOOKABOUT management to gain an understanding of the company's current and longer term prospects.
The Alliance's proposal also suggested a minimum down payment of only $500 from personal funds, with private subordinate financing making up the rest.
Claron is a strong illustration of a successful and rapidly expanding technology firm fueled by talented and committed entrepreneurs," said Enes Kula of the BDC's Subordinate Financing Group.
The increase was attributed primarily to higher amounts of gains on the sale of SBA loans ($200 thousand versus $31 thousand), higher amounts of gains on the sale of residential mortgage loans ($133 thousand versus $35 thousand), higher levels of deposit activity fees ($364 thousand versus $343 thousand) and income from subordinate financing of real estate projects ($226 thousand versus $0).
The Project is being financed by a using 4% credits and tax-exempt bonds as well as subordinate financing.
9 million of deeply subordinate financing targeted to family housing throughout New York, which reduced The Modern's reliance on state subsidy.
Formed by Apollo in 2006 to expand its lending and debt investment activities, AREFIN will utilize its $2 billion of lending capacity to provide customized single-source and subordinate financing solutions for clients with complex needs.
3 million, with more than $25 million in crowd-funded equity, senior financing from Deutsche Bank and subordinate financing from a New York-based institutional investor.
In July, the Company formed Eagle Commercial Ventures, LLC as a direct subsidiary to provide subordinate financing for the acquisition, development and construction of real estate projects, whose primary financing would be done by EagleBank.