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LendingRisk.com Mortage Industry Dictionary

Terminology, definitions, terms, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries.

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Default

A failure to meet legal obligations in a mortgage contract. For example, a borrower fails to make the monthly mortgage payment.

See Mortgage Loan Delinquency Overview
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Terminology, definitions, terms, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries.