Order of priority

Order of priority

The order of claim established by senior and junior mortgages to the underlying real estate serving as collateral for the mortgage. The mortgages are entered in the Land Register in the order of their priority (first mortgage, second mortgage, etc.). The claim is generally realised (the mortgage foreclosed) by an action or proceedings brought by the creditor against the debtor after the latter has defaulted or as a consequence of the debtor's bankruptcy.

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Part of Speech: noun
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Industry/Domain: Banking
Category: Investment banking
Company: UBS
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Related terms

order of priority

Banking; Investment banking

The order of claim established by senior and junior mortgages to the underlying real estate serving as collateral for the mortgage. The mortgages are entered in the Land Register ...

right to move mortgage to higher order of priority

Banking; Investment banking

Right of the creditor next in order of priority to move up to the vacant place in the land register.

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Natural environment; Coral reefs

In taxonomy, the seniority of a taxonomic name fixed by the date of publication; the earliest published name has priority.

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Computer; Software; Software engineering

The level of importance assigned to an item.

priority

Telecommunications; General telecom

Priority, unless specifically qualified, is the right to occupy a specific frequency for authorized uses, free of harmful interference from stations of other agencies. 2. Synonym ...

priority

Video games; Fighting games

A system that determines which attack "wins" in the cases that both players attack each other at the same time. A high priority attack will nullify the lower priority attack and ...

dirty floating

Banking; Investment banking

Currency policy which in principle recognizes the free movement of exchange rates but where interventions are nonetheless made with some frequency in an attempt to influence the ...

economic viability

Banking; Investment banking

Credit system mainly used in property financing and defined as the burden on the borrower's income (expressed as a percentage) that the cost of a property will incur.

summary bill enforcement procedure

Banking; Investment banking

Especially rapid summary bankruptcy proceedings brought against bill and cheque debtors whose names are entered in the commercial register.

share index

Banking; Investment banking

Indicator showing changes in the average prices of shares or groups of shares on the stock market. In Switzerland the most commonly used equity price indices are the Swiss ...

benchmark

Banking; Investment banking

Reference parameter (e.g. a share index or an index portfolio) used to compare the performance of a portfolio. A benchmark that is an index is also called a reference index.

standing order

Banking; Investment banking

Payment product which enables the client to give an order to the bank to make regular payments for the same amount and execution date.

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