The phrase "defaulted loan" is correct and usable in written English.
You can use it to refer to a loan that the borrower has failed to pay back on time or according to the conditions of the loan agreement. For example, "The homeowner went into foreclosure after defaulting on his loan."
Even if 10% default - which would by prior experience be a huge number - and there are losses of 60% on each defaulted loan, the total losses on each pool would be 6%10%0% defaults x 60% losses).
"When they renege, they get to keep servicing a defaulted loan".
Orbit requires the permission of LIC to sell units, and any sales must go toward the defaulted loan.
In fact Mr. Gottlieb was never personally responsible for the defaulted loan and remains in full control of his company.
Mr. Yadav predicted that Orbit would be able to repay the defaulted loan within seven months, while acknowledging that the company faced a tough market for selling apartments.
If a borrower is trying to rehabilitate the defaulted loan, the borrower must make 9 of 10 consecutive, full, on-time voluntary monthly loan payments.
ECMC subsidiaries handle all aspects of loan servicing: educating borrowers about ways to avoid default, collecting on defaulted loans and the more controversial practice of challenging borrowers who try to dispense student loan debt in U.S. Bankruptcy Court.
Because servicers typically keep late fees and certain other charges assessed on delinquent or defaulted loans, "a borrower's default can present a servicer with an opportunity for additional profit," Ms. Porter said.
As servicers — in charge of collecting payments and managing defaults — banks can make more from fees and charges on defaulted loans than on modifications.
Some of the defaulted loans were obscure and fiddly.
Handling defaulted loans is more lucrative than handling performing ones.
