Sentences with phrase «expected second liens»

Consequently, lenders do not discover that they hold a third, fourth, or fifth lien on a property (rather than the expected second lien) until later.

Not exact matches

Catalyst # 2: De-risking: Continual reduction in structured finance exposures, declining claim payments on second - lien RMBS Catalyst # 3: Reimbursement for claims paid: Fairholme expects MBIA to recover at least half of the gross claims paid to date in a 2012 settlement or all in a 2013 trial.

I mistakenly said the bonds would likely be unsecured; given that the committed bridge loan is going to be second - lien secured, I'd expect the bonds to be second - lien secured bonds as well.