The refinancing loan with Deutsche Bank is mentioned in documents filed with the Securities and Exchange Commission as part of a public offering of mortgage-backed securities. It states that Kushner and his brother, Joshua, "will be guarantors" under what was called a "nonrecourse carve-out." Such guarantees require more than a loan default to kick in. They are commonly known as "bad boy" clauses, a reference to how a lender could seek to hold the guarantor responsible for the debt under circumstances that might include fraud, misapplication of funds or voluntary bankruptcy deemed inappropriate. The terms of the guarantee, which generally are not secured by collateral, are negotiated between lender and borrower.