"Defaulted loans" refers to loans that borrowers haven't paid back according to the agreed-upon terms. It means that the borrower has failed to make required payments for an extended period, and the loan is considered in default.
Sentences with «defaulted loans»
Currently, if a person buys a home with less than 20 % down the lender is legally required to take out mortgage default loan insurance. (moneysense.ca)
In March, the Department of Education announced that it was rescinding a rule that prevents student loan servicers from adding collection fees on defaulted loans as long as the borrower is in repayment or rehabilitation within sixty days of default. (lendedu.com)
The majority of defaulted loans come from a defunct lending system known as FFEL that used private banks as middle men in lending to students. (thinkprogress.org)