Sub-Performing Loan definition
Sub-Performing Loan. A Mortgage Loan pursuant to which a scheduled monthly payment in respect of principal and/or interest due prior to the Cut-off Date under the terms of the related Mortgage Note (or any modification thereto), is at least 30 but not more than 60 days delinquent.
Sub-Performing Loan means a Mortgage Loan that is more than 29 but less than 61 days Delinquent (two payments missed).
Sub-Performing Loan. With respect to any date of determination, a First Lien Re-Performing Loan that is not a 24+ Re-Performing Loan, 12+ Re-Performing Loan, <12 Re-Performing Loan or a Non-Performing Loan