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Home / Opinion Digests / Lienholders can partially subordinate by contract (access required)

Lienholders can partially subordinate by contract (access required)

Mortgagee Wells Fargo could subordinate its first-priority lien to its third-priority lien on secured property, without thereby moving the second-priority lien to first position, the court held. Defendant Milton H. Cortez obtained two loans to purchase a home in 2005. The first loan was with Wells Fargo for $415,000 (deed of trust recorded September 23, 2005), ...