If a borrower does not make a payment according to schedule, the Loan Originator may be obligated (if so prescribed in the Assignment Agreement) to buy back the loan from you once it has become 60 days overdue. Buyback Obligation covers principal and all accrued interest of the loan.
What happens if borrower defaults on their payments?
Who is a Loan Originator?
What is Skin in the game?
What loans are issued to the borrowers?
Can I know who the borrower is?
What happens if borrower defaults on their payments?
What is a Buyback Obligation and how does it work?
What happens if a Loan Originator cannot complete its Buyback Obligation or other commitments ?
What is a Voluntary Reserve, and how does it work?
Why our Lithuanian loans have a borrower risk rating and how to understand it?
What happens if a Loan Originator goes out of business?
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