A mortgagee allows a clause in his contract stating that another lender's interest will be allowed to take precedence over his own. This clause is a subordination clause.

Name: A mortgagee allows a clause in his contract stating that another lender's interest will be allowed to take precedence over his own. This clause is a subordination clause.
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Question

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A subordination clause allows another lender's interest to take precedence over the existing lender's interest.

A Mortgagee Allows a Clause in His Contract Stating That