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In executory subordination agreement, a subordinating party agrees to subordinate his/her interest to the security interest of another succeeding instrument. Such an agreement may become difficult to impose later on since it is only a promise of agreeing in the future.
A subordination clause is a lease provision whereby the tenant subordinates its possessory interest in the leased premises to a third-party lender, usually a bank (the rights of the tenant are thus subject to the rights of the lender).
A mortgage subordination refers to the order the outstanding liens on your property get repaid if you stop making your mortgage payments. For example, your first home loan (primary mortgage) is repaid first, with any remaining funds paying off additional liens, including second mortgages, HELOCs and home equity loans.
When you take out a mortgage loan, the lender will likely include a subordination clause. Within this clause, the lender essentially states that their lien will take precedence over any other liens placed on the house. A subordination clause serves to protect the lender in case you default.
The creditor usually will require the debtor to sign a subordination agreement which ensures they get paid before other creditors, ensuring they are not taking on high risks.

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In case the borrower places other liens against the asset, such as a second mortgage, the lender would require a subordination agreement to protect its interests.
If the propertys value drops or the refinanced loan is greater than the previous loan, the second lender may refuse to subordinate. As such, homeowners may face difficulty in refinancing the mortgage. Additionally, due to the risk involved, second mortgages usually carry a higher interest rate.
We briefly discuss three types of agreements below. An executory subordination agreement is an agreement under which the subordinating party, like the seller of land, agrees to execute a subsequent instrument subordinating his or her security interest to another security interest, like the lien of a construction loan.
Subordinations are, essentially, a way for a lender to ensure that their lien takes priority over any other liens a customer may have on their property. This process costs money, which is what you pay for in a subordination fee. This fee may apply to a mortgage refinance, depending on your circumstances.
Despite its technical-sounding name, the subordination agreement has one simple purpose. It assigns your new mortgage to first lien position, making it possible to refinance with a home equity loan or line of credit. Signing your agreement is a positive step forward in your refinancing journey.

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