If a state passes a law giving the first lender to record its mortgage priority over all other lenders that might have an interest in the same parcel of real estate, then this state has adopted a statute. notice race race-notice None of thes ist rect. That's incorrect. Consider this: What is it called when the only factor that matters is which lender recorded its mortgage first? LO 16.1 Explain how to pledge real property as security for a loan, and describe the process of foreclosing on real property if the loan is not repaid. Suppose you have defaulted on your home loan and the bank has foreclosed on the property and obtained a deficiency judgment against you. In trying to collect on this judgment, which of the following remedies is the bank not permitted to obtain? Writ of payment writ of garnishment Writ of attachment O Writ of execution