Sentences with phrase «if the borrower defaults on the loan»

Mortgage insurance is required — protects the lender from a loss if borrower defaults on the loan.

By lending to risky borrowers, the companies are assuming larger amounts of risk that can lead to financial problems if the borrowers default on their loans.

The lender is protected if a borrower defaults on the loan, and the borrower is protected if the lender goes out of business or the loan balance exceeds the value of the home.

Under the loan insurance program enacted in the NVSLIA, the specific potential loss to taxpayers of concern was the need to pay default claims to banks and other lenders if the borrowers defaulted on the loans.

A co-signer for a business loan is someone who guarantees that loan will be paid if the borrower defaults on the loan.

The secured nature of the loan means if the borrower defaults on a loan then the lender has a means to recoup part or all of the outstanding balance by seizing and then selling the asset.

They will take financial responsibility to pay back unpaid debts if the borrower defaults on their loan.

Accordingly, cosigners are treated by lenders and servicers the same as the primary borrower, and can even be sued if the borrower defaults on the loan.

If the borrower defaults on a loan of this type, the government protects the borrower against the damages.

The holder may be the bank that issued the loan, a secondary market that purchased the loan from the bank or a guarantee agency if the borrower defaulted on the loan.

The lender can acquire these assets if the borrower defaults on the loan.

Just because a loan is unsecured, that doesn't mean lenders are powerless to collect if a borrower defaults on the loan.

Proponents of the law say that it is in the best interest of the taxpayers who will be stuck footing the bill if borrowers default on their loans.

PMI is a specialized insurance policy provided by private insurance companies that protects a lender from financial loss if a borrower defaulted on their loan.

The lender is protected if a borrower defaults on the loan, and the borrower is protected if the lender goes out of business or the loan balance exceeds the value of the home.

While the borrower pays the premium — which can add thousands of dollars to the cost of buying a home — the insurance actually protects the lender if the borrower defaults on the loan.

A provision which requires that the remaining balance due be paid if the borrower defaults on the loan or transfers title to another party.

Non-recourse means if a borrower defaults on the loan, the issuer can seize the home asset, but can not seek any further compensation from the borrower — even if the collateral asset does not fully cover the full value of the loan.

This means the credit provider can sell your house to pay the debt if the borrower defaults on their loan.

If the borrower defaults on the loan (doesn't meet the terms and conditions), the loan agreement spells out any fines and penalties.

If the borrower defaults on the loan, the lender can seize and sell collateral in order to recover its money.

If you're considering cosigning a loan, it's essential that you understand the key risk involved: if the borrower defaults on the loan, then you are responsible for paying it back.

If the borrower defaults on their loan and there isn't enough equity in the home to cover what is owed on the mortgage, private MI is there to offset the loss.

For instance, if a borrower defaults on a loan, the corresponding investor's money might be lost permanently, leaving the investor with little practical recourse.

This allows the banks to get closer to break even if the borrower defaults on the loan.

If the borrower defaults on the loan, the lender can seize the collateral.

Private mortgage insurance (PMI)-- Protects the lender against a loss if a borrower defaults on the loan.

If the borrower defaults on the loan, that guaranteed amount is paid back to the VA lender by the Department of Veterans Affairs.

This means that if the borrower defaults on the loan the lender will have a claim on any assets but after secured creditors.

If a borrower defaults on the loan, the creditor's remedy is to repossess the solar panels and then resell them.

If the borrower defaults on the loan, the insurer must pay the lender the lesser of the loss incurred or the insured amount.

If the borrower defaults on the loan, the lender takes ownership of the item.

A loan used to purchase a single asset or group of assets where the lender's claim on assets is limited to the asset (s) purchased with the loan, if the borrower defaults on the loan.

Extended on credit, unsecured debt presents a higher risk to a lender since - in the United States - there are no debtor's prisons and if a borrower defaults on a loan, there is little that a lender can do about it except seek costly legal action and report to the credit reporting agencies.

If a borrower defaults on a loan, the automobile may be repossessed but LoanMart will work with you if contacted ahead of time

First, it is true that if a borrower defaults on a loan, you lose money as a lender.

And if the borrower defaults on the loan, it can destroy your credit — showing up as a default for you, too.

The insurance protects the lender (not the borrower) if a borrower defaults on the loan.

If the borrower defaults on the loan, the creditor can take the asset.

A legally binding Loan Agreement not only maps out the terms of the loan, but it also protects you if the borrower defaults on the loan.

If the borrower defaults on the loan the PMI allows the lender to still get paid.

(Private Mortgage Insurance) PMI is a specialized insurance policy provided by private insurance companies that protects a lender from financial loss if a borrower defaulted on their loan.

If the borrower defaults on the loan, the tokens used as collateral are transferred to the lender.

Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan.

Partial Recourse — If the borrower defaults on a loan, the borrower is only partially liable for the debt with their other personal assets.

Recourse — If the borrower defaults on a loan, the borrower pledges all of their other assets to repay the loan.