Sentence examples for junior mortgage. from inspiring English sources

Legally speaking, however, the junior mortgage should be the first debt on the house to take the hit – not the first mortgage.

That addition drove an 80 percent jump in its non-performing junior mortgage total, helping take it up to $3.6 billion at the end of March from $2 billion at the end of December.

In exchange for not suing him today, you might agree to take a junior mortgage on his house.

That led to a 115 percent jump in non-performing junior mortgages in the first quarter.

Wells said it added $1.7 billion of "performing" junior mortgages to its total of non-performing loans.

One is how banks go about quantifying how many borrowers who have past-due first mortgages also have junior mortgages.

In response, Wells and JPMorgan decided to adjust their bad-loan totals to also include junior mortgages that are current but come behind past-due first mortgages.

But some observers suspect that banks have been freeloading — on actions by the first mortgage holders — to avoid losses on their junior mortgages.

At Wells, 40 percent of its junior mortgages come behind first mortgages that the bank doesn't hold or collect payments on.

In the first quarter, JPMorgan added $1.4 billion of performing junior mortgages to its non-performing loans and $200 million of past-due ones.

The concern is that losses on junior mortgages are artificially suppressed, and could spike higher if, for instance, holders of mortgage-backed securities legally blocked write-downs of first mortgages.