subordinated mortgage

subordinated mortgage

A mortgage lien that might have been filed first, but which is agreed among the parties to be treated as a junior lien and inferior to the rights of another mortgage.

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Millas represents institutional lenders in connection with the origination of CMBS loans and traditional secured real estate debt financings, including construction loans in New York, and senior and subordinated mortgage financings of all types of real estate.
We also intend to underwrite and acquire other subordinated mortgage investments, such as Collateralized Mortgage-Backed Securities (CMBS) loans.
Fitch Ratings has upgraded 3 classes of Lehman Structured Securities Corporation, series 1998-A subordinated mortgage certificate-backed certificates, as follows:
As a result gain income is expected to be below historical levels as we retain and grow our investment portfolio of subordinated mortgage backed securities.
0 million in subordinated mortgage debt relating to the Company's Great Mall of the Great Plains located in Olathe, Kansas, and $127.
7 million subordinated mortgage loan in respect of Cambior's 50% interest in the Niobec mine.
The single-'B'-minus rating on the US$249 million senior mortgage notes due 2006 and the triple-'C' rating on the US$203 million senior subordinated mortgage notes due 2008 issued by NSM Steel (Delaware) Inc.
The Company has additional security in the form of guarantees in an amount of approximately $1,500,000 and a $1,000,000 subordinated mortgage on one additional behavioral care facility.
Events of Default are alleged to have occurred under each of the indentures governing NSM's 12% Senior Mortgage Notes due 2006, 12-1/4% Senior Subordinated Mortgage Notes due 2008 and 12-3/4% Subordinated Mortgage Debentures due 2009, each guaranteed by NSM (the "Securities").
The taxable loan will be secured by a subordinated mortgage on the property.
NSM also announced that holders of its 12% Senior Mortgage Notes Due 2006 have taken action against the holders of the Company's 12-1/4% Senior Subordinated Mortgage Notes Due 2008 and 12-3/4% Subordinated Second Mortgage Debentures Due 2009 to block certain payments pursuant to the indentures governing the Subordinated Notes and Debentures for a period of up to 179 days.
The triple-'C'/Watch Neg rating on the US$203 million senior subordinated mortgage notes due 2008 issued by NSM Steel (Delaware) Inc.