-
The Residential Mortgage Banking segment directly originates primarily first lien residential mortgage loans on a nationwide basis with a significant presence within the retail banking footprint, and also originates loans through majority and minority owned affiliates.
FORBES: #169 PNC Financial Services
-
The bank holds the first lien.
FORBES: Buying Main Street: Time To Add Commercial Real Estate To Your Portfolio?
-
Existing lenders were in a power position, having to amend to approve the incremental debt used to fund the dividend, and second-lien investors in particular were concerned about the additional first-lien debt coming in ahead of them.
FORBES: Dividend finance rises on strong credit conditions
-
Of course, second-lien debt is a niche product for issuers that require higher leverage than is usually available in the first-lien market, but that in many cases are locked out of the regular-way high-yield bond market because of size, credit quality, or complexity.
FORBES: Connect
-
If successful, Husky will be the first issuer to have a first-lien repricing since Gibson Energy in May.
FORBES: Leveraged loan technicals strengthen in July as supply shrinks
-
Based on current market conditions, OFS expects first-lien loans will have interest rates ranging from 4.75-8% over LIBOR.
FORBES: Orchard First Source BDC prints $100M IPO; loan book averages 8.41%
-
Borrowers are only allowed to have their loans modified once, and the program only applies to first-lien loans made Jan. 1, 2009, or earlier.
MSN: Housing plan details which borrowers get help
-
Data collected under the Home Mortgage Disclosure Act show that independent mortgage companies those that are not depository institutions or their subsidiaries or holding company affiliates made nearly half of higher-priced first-lien mortgages in 2006 but only one-fourth of loans that were not higher-priced.
NPR: Transcript: Bernanke on Mortgages, Foreclosures
-
The North American Distressed Debt Market Outlook 2011, a survey of 100 experienced distressed debt investors released by Debtwire, Macquarie Capital and Bingham McCutchen, found that these investors will move their cash from energy to real estate assets and from first and second-lien loans to common equity and convertible bonds.
FORBES: Distressed Debt Investors Prefer Real Estate In 2011
-
The company plans to originate and invest in first- and second-lien loans that will have a term of 3-6 years.
FORBES: WhiteHorse BDC goes public for $100M, with 12 deals at 12.8%