203) Therefore, if the mortgage were subsequently perfected in the hands of the trust, its brief moment of lack of perfection would not matter unless there was already a junior mortgage
on the property; subsequent liens and sale are unlikely to be an issue.
Bank National Association, which holds both notes and has already obtained a judgment of foreclosure on the junior mortgage
This article attempts to clarify some of these risks so that mezzanine lenders will either adequately price their loans to reflect the increased risk or return to traditional junior mortgage
The sale price was $115,000 paid by assumption of an existing 7% loan, a junior mortgage
bridging the gap between the balance owed on the assumed loan and an 80% loan-to-value ratio, and cash equal to 20% of the purchase price.
7 million in non-trust mezzanine loans, and finally to the trust's $50 million junior mortgage
note, which are all interest only.
The textbook or paradigm case is the purchasing mortgagor who asserts the destruction of a junior mortgage
where the mortgagor is personally liable on its underlying obligation.
Apparently, the trial court applied a theory that by failing to foreclose its junior mortgage
It could, of course, have been intended as a second or more junior mortgage
The investment program will target mezzanine loans, first mortgage bridge loans, preferred equity, and junior mortgage
This would preserve as viable a tenancy or a junior mortgage
Additionally, spreads on some junior mortgage
securities have retraced a portion of the sharp widening that occurred in March, junior mortgage
securities are trading in a more orderly fashion, and the ABX index is off its lows.
6 million of the junior mortgage
loan (the "Junior Loan") encumbering the Property.
Among the many subjects to be covered in the lender phase of the survey that were covered in earlier surveys are mortgage insurance status (FHA, VA, insured conventional, uninsured); outstanding method of payment; current status of payments; and extent and characteristics of junior mortgage
The Operating Partnership also transferred its interest in the junior mortgage
loan (the "Junior Loan") encumbering Continental Towers to Prime Equity.
These loans were originated using less stringent underwriting standards than those applied by some other first and junior mortgage
loan purchase programs including other programs of Residential Funding Corporation and Fannie Mae & Freddie Mac.