default on payments
31event of default — Certain specified events specified in loan and other documentation which might jeopardise a lender s or investor s position. If they occur the lender or investor is allowed to withdraw and claim earlier repayment of indebtedness. Easyform… …
32Temporary Default — A bond rating that suggests the issuer might not make all of the required interest payments, but is taking actions to avoid a full default. Temporary default describes the credit worthiness of a debt issuer that has a high likelihood of… …
33notice of default — A statement, usually written, from one party to a contract to another, advising the recipient that he or she has failed to live up to a term or condition of the contract. Although defaults are most common in real estate, they can happen in any… …
34Constant Default Rate - CDR — An annualized rate of default on a group of mortgages, typically within a collateralized product such as a mortgage backed security (MBS). The constant default rate represents the percentage of outstanding principal balances in the pool that are… …
35Strategic Default — A deliberate default by a borrower. As the name implies, a strategic default is done as a financial strategy and not involuntarily. Strategic defaults are commonly employed by mortgageholders of residential and commercial property who have… …
36event of default — An event described in a promissory note, security agreement, or loan agreement that triggers rights of the lender to take remedies set forth in the documents. The most common event of default is the debtor s failure to make required interest… …
37Notice of default — A notice of default is a notification given to a borrower stating that he or she has not made their payments by the predetermined deadline. It dictates that if the money owed (plus an additional legal fee) is not paid in a given time, the lender… …
38credit default swap — noun A credit derivative contract between two counterparties, whereby the buyer (seller of risk) makes periodic payments to the seller (buyer of risk) in exchange for the right to a payoff if there is a default or other credit event in respect of …
39guarantee — See guaranty. American Banker Glossary The assumption of responsibility for payment of a debt or performance of some obligation if the liable party fails to perform to expectations. Bloomberg Financial Dictionary Financial security required for… …
40Criminal Law Act 1977 — The Criminal Law Act 1977[1] Parliament of the United Kingdom Long title An Act to amend the law of England and Wales with respect to criminal conspiracy …
