Common use of Early Payment Default Clause in Contracts

Early Payment Default. On Loans closed in Seller’s name and sold to Arc, an Early Payment Default (EPD) occurs when any of the first four (4) payments due after purchase of the Loan by Arc becomes ninety (90) or more days delinquent and such delinquency is not attributable to an error in servicing or other material error of Arc or its affiliates.

Early Payment Default. On Loans closed in Seller’s name and sold to ArcArcHome, an Early Payment Default (EPD) occurs when any of the first four (4) payments due after purchase of the Loan by Arc ArcHome becomes ninety (90) or more days delinquent and such delinquency is not attributable to an error in servicing or other material error of Arc ArcHome or its affiliates.

Early Payment Default. On Loans closed in Seller’s name and sold to Arc, an Early Payment Default (EPD) occurs when any of the first four (4) payments due after purchase of the Loan by Arc becomes ninety (90) or more days delinquent Delinquent and such delinquency Delinquency is not attributable to an error in servicing or other material error of Arc or its affiliates.

Early Payment Default. On Loans closed in Seller’s name and sold to ArcArc Home, an Early Payment Default (EPD) occurs when any of the first four (4) payments due after purchase of the Loan by Arc Home becomes ninety (90) or more days delinquent and such delinquency is not attributable to an error in servicing or other material error of Arc Home or its affiliates.