5 million first mortgage
and a $100,000 line of credit for a 143-unit co-op located at 63-33 98th Place in Rego Park, N.
MINNEAPOLIS -- TopLine Federal Credit Union announced today that it has hired Mary Wetterlin as General Manager to develop and implement a new first mortgage
division at its Maple Grove, Minnesota, headquarters.
0 million subordinated interest in a first mortgage
In a piggyback structure, the first mortgage
is a loan covering 80 percent of the property's value, often at a fixed rate, but increasingly at an adjustable rate.
4 million first mortgage
and a $50,000 line of credit for a 110-unit co-op located at 860 Grand Concourse in Bronx, NY; a $2.
a $15 million junior participation in a $95 million first mortgage
secured by the Adam's Mark Hotel complex in Denver, Colorado.
6 million in loans in November, including a $16 million first mortgage
and a $500,000 line of credit for Cherokee Owners Corp.
For the first mortgage
secured bonds, the high margin of collateral to secured debt will likely result in full or nearly full recoveries.
2 million in loans during October, including the largest deal of the month, a $10 million first mortgage
and a $1.
Third Federal Savings and Loan enters its first mortgage
season in the Florida market with a new second-home mortgage product.
6, 1997--As the real estate market in Orange COunty and throughout California continues to improve, the fast-growing mortgage company DiTech Funding has announced its exclusive offering of all-new, 125 percent first mortgages
for qualified buyers.
May's still-low interest rate environment influenced co-operative boards to continue to borrow money in the form of first mortgages
and lines of credit," commented Howe.
The impressive business volume produced by the NCB New York team reflects significant lending activity to larger cooperatives with over 100-units each combined with a healthy amount of first mortgages
originated for building of all sizes.
1 million first mortgage
and a $250,000 line of credit for an 80-unit co-op located at 328-350 Lakeland Avenue in Sayville, NY; a $1.
NCB's senior vice president Mindy Goldstein arranged a total of $28 million in loans during May, including a $5 million first mortgage
and a $750,000 line of credit for a 68-unit co-op located at 310 and 320 West 86th Street in Manhattan; a $3.