Sentences with phrase «primary lien position»

NAR noted that most PACE loans are in the primary lien position, which means that in the event of a default, these loans get repaid first, even before the mortgage.

Not exact matches

Realtors have raised concerns about these loans because they often take a first - lien position, creating problems for backers of the primary mortgage when there's a default.

First Lien Position — Primary claim by a lender for satisfaction of outstanding debt.

A type of debt that places the investor in a lien position behind or subordinated to a company's primary creditors.

Sample APR assumes a new $ 100,000 HELOC in second lien position with a combined loan - to - value (CLTV) ratio of up to 70 % on a 1 - to 4 - unit owner - occupied primary residence and a borrower with excellent credit.

NAR signed on to a joint letter, along with the Mortgage Bankers Association, the Financial Services Roundtable and several other financial services and real estate groups, that raised several concerns about PACE loans, especially the provision that places any PACE loans in a first lien position ahead of the primary mortgage.