Default aversion assistance definition

Default aversion assistance means the activities of a guaranty agency that are designed to prevent a default by a borrower who is at least 60 days delinquent and that are directly re- lated to providing collection assistance to the lender.
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Default aversion assistance means the activities of a guaranty agency that are designed to prevent a default by a borrower who is at least 60 days delinquent and that are directly related to providing collection assistance to the lender. (3) A guaranty agency's loss on a loan that was outstanding when a reinsurance agreement was executed is covered by the reinsurance agreement only if the default on the loan occurs after the effective date of the agreement. (4) If a lender has requested default aversion assistance as described in paragraph (a)(2)(ii) of this section, the agency must, upon request of the school at which the borrower received the loan, notify the school of the lender's request. The guaranty agency may not charge the school or the school's agent for providing this notification and must accept a blanket request from the school to be notified whenever any of the school's current or former students are the subject of a default aversion assistance request. The agency must notify schools annually of the option to make this blanket request. (b) Reduction in reinsurance rate.1) If the total of reinsurance claims paid by the Secretary to a guaranty agency during any fiscal year reaches 5 percent of the amount of loans in repayment at the end of the preceding fiscal year, the Secretary's reinsurance payment on a default claim subsequently paid by the guaranty agency during that fiscal year equals-- (i) 90 percent of its losses on default claim payments to lenders on loans for which the first disbursement is made before October 1, 1993 or transferred under a plan approved by the Secretary froman insolvent guaranty agency or a guaranty agency that withdraws its participation in the FFEL Program; (ii) 88 percent of its losses on default claim payments to lenders on loans for which the first disbursement is made on or after October 1, 1993, and before October 1, 1998; or
Sample 1
Default aversion assistance means the activities of a guaranty agency that are designed to prevent a default by a borrower who is at least 60 days delinquent and that are directly re- lated to providing collection assistance to the lender.(3) A guaranty agency’s loss on a loan that was outstanding when a reinsur- ance agreement was executed is cov- ered by the reinsurance agreement only if the default on the loan occurs after the effective date of the agree- ment.(4) If a lender has requested default aversion assistance as described in paragraph (a)(2)(ii) of this section, the agency must, upon request of the school at which the borrower received the loan, notify the school of the lend- er’s request. The guaranty agency may not charge the school or the school’s agent for providing this notification and must accept a blanket request from the school to be notified whenever any of the school’s current or former students are the subject of a default aversion assistance request. The agen- cy must notify schools annually of the option to make this blanket request.
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Examples of Default aversion assistance in a sentence

  • The lender must allow the borrower at least 30 days after the date the letter is mailed to respond and bring the loan out of default before filing a default claim on the loan.Default Aversion Assistance Default aversion assistance is collection assistance that a guarantor provides to supplement a lender’s efforts to prevent default on a borrower’s loan; however, it does not replace the lender’s responsibility to perform due diligence.

  • Default Aversion Assistance Default aversion assistance is collection assistance that a guarantor provides to supplement a lender’s efforts to prevent default on a borrower’s loan; however, it does not replace the lender’s responsibility to perform due diligence.

  • Default aversion assistance consists of the activities of a guaranty agency that are designed to prevent defaults by borrowers who are at least 60 days delinquent.

  • Default aversion assistance is collection assistance that a guarantor provides to supplement a lender’s efforts to prevent default on a borrower’s loan, but that does not replace the lender’s responsibility to perform due diligence.

Related to Default aversion assistance

  • Termination Assistance means the activities to be performed by the Supplier pursuant to the Exit Plan, and any other assistance required by the Customer pursuant to the Termination Assistance Notice;

  • Termination Assistance Period means the period commencing upon the expiration or termination of this Agreement and each Statement of Work and expiring six (6) months thereafter, as such period may be extended by the Parties.

  • Termination Assistance Services has the meaning set forth in Section 18.12.

  • Medication assistance means assistance rendered by a

  • Cash assistance means cash benefits provided under the family independence program, the refugee assistance program, or state disability assistance.

  • Resettlement Assistance means the measures to ensure that project affected persons who may require to be physically relocated are provided with assistance such as moving allowances, residential housing or rentals whichever is feasible and as required, for ease of resettlement during relocation.

  • Hands-on assistance means physical assistance (minimal, moderate or maximal) without which the individual would not be able to perform the activity of daily living.

  • Adoption assistance means financial assistance provided to families adopting children with special needs. "Adoption assistance" may be state or federally funded. Federal adoption assistance is authorized by the Adoption Assistance and Child Welfare Act of 1980 (Pub. L. No. 96-272, 94 Stat. 500 (1980)). State adoption assistance is authorized by ORS 418.330 to 418.335.

  • Housing assistance means appropriate referrals by the

  • Medication-assisted treatment or "MAT" means the use of pharmacologic therapy, often in combination with counseling and behav- ioral therapies, for the treatment of substance use disorders.

  • Public assistance means Temporary Assistance for Needy Families (TANF); auxiliary grants to the aged, blind and disabled; medical assistance; energy assistance; food stamps; employment services; child care; and general relief.

  • Election Assistance Commission means the commission established by Public

  • Available government assistance means any governmental rental or housing payment benefits available to the individual or any household member.

  • Directory Assistance Database shall have the meaning set forth in Sections 10.5.2.2, 10.5.2.8, and 10.5.2.9.

  • Payment Initiation Service Provider or “PISP” means an authorised third party provider which provides a service that allows that third party to pass payment instructions to us on your behalf in relation to your Account.

  • Medicaid Notification of Termination Requirements Any Contractor accessing payments for services under the Global Commitment to Health Waiver and Medicaid programs who terminates their practice will follow the Department of Vermont Health Access, Managed Care Organization enrollee notification requirements.

  • payment initiation service means a service to initiate a payment order at the request of the payment service user with respect to a payment account held at another payment service provider;

  • Alternative Compliance Payment or "ACP" means a payment of a certain dollar amount per megawatt hour, which a Retail Electricity Supplier may submit in lieu of supplying the minimum percentage of RECs required under Section 3.3.5 of this Regulation.

  • Pattern of racketeering activity means the planned, ongoing, continuous or repeated participation or involvement in any offence referred to in Schedule 1 and includes at least two offences referred to in Schedule 1, of which one of the offences occurred after the commencement of this Act and the last offence occurred within 10 years (excluding any period of imprisonment) after the commission of such prior offence referred to in Schedule 1;

  • Repeat compliance period means any subsequent compliance period after the initial compliance period.

  • technical assistance means any technical support related to repairs, development, manufacture, assembly, testing, maintenance, or any other technical service, and may take forms such as instruction, advice, training, transmission of working knowledge or skills or consulting services; including verbal forms of assistance;

  • Dependent care assistance program means a benefit plan

  • mandatory control level RBC ’ means the product of .70 and the authorized control level RBC.

  • Expert advice or assistance means advice or assistance derived from scientific, technical, or other specialized knowledge.

  • Government assistance means a grant, loan, or tax increment financing that result in a financial benefit from an agency, commission, instrumentality, or other entity of the District government.

  • Medical assistance means medical assistance as established under title XIX of the social security act, 42 USC 1396 to 1396w-5.