Glossary entry
Mortgage default
Mortgage default occurs when a borrower fails to meet repayment obligations as agreed, triggering collections, hardship processes, or enforcement depending on context.
Category
Lending technology
Definition
Why it matters in underwriting
- Serviceability and expense benchmarks help prevent unaffordable lending
- Collateral valuation and LVR policies reduce loss severity
- Clear evidence trails support dispute handling
Related terms
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