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.
TIF 6, a new non-traded business development company, plans to use the proceeds of their $1 billion offering to originate, acquire, and manage a widespread portfolio of commercial real estate loans, such as mezzanine, first and second lien mortgage, subordinated mortgage, and bridge, to US companies.
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:
5 million in cash and a $12 million promissory note secured by a subordinated mortgage.
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.