Sentences with phrase «occur if the borrower defaults»
Not exact matches
According to the OSFI, stated income products require an «undue reliance on collateral» which can be «traumatic for the borrower» and «costly to the lender» if a default were to occur.
https://www.mortgagetalkcanada.ca/
For FFEL and Direct Loans, default occurs if a borrower fails to make a payment for 270 days if the loan is repaid monthly.
Rates assume automatic payment from an eligible Wells Fargo business checking account, and may be higher if the borrower fails to provide collateral, or an account default occurs.