First Source currently manages 30 mortgage investments totaling $168 million, including Fund assets of $63 million.
data as of August 31, 2019
In an A/B structured loan, two lenders take part in the same first mortgage. The A lender holds a priority or senior position to the B lender and accepts a lower rate for the portion that it funds. The B lender is subordinate to the A lender and receives a higher rate for its portion. The B Lender benefits by participating in a higher quality, lower risk loan that, without structuring, commands an interest rate outside its investment parameters.