Perpetual subordinated debt is not straight debt, rather it is close to, or in some cases identical to, preferred shares, paying a fixed-rate coupon similar to preferred shares' fixed-rate dividend.
The first is by placing an existing or newly underwritten fixed-rate security into a trust and issuing both a floating rate note and an inverse floating rate note.
The web-based, paperless mortgage application and processing system allows low and moderate income borrowers to obtain fair, fixed-rate 30 year mortgages in a streamlined process.