- A banking loan on which the interest is more than 90 days overdue. After this grace period has elapsed, the borrower becomes liable for late charges.
Big dictionary of business and management. 2014.
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past-due loan — A banking loan on which the interest is more than 90 days overdue. After this grace period has elapsed, the borrower becomes liable for late charges … Accounting dictionary
past due — ˌpast ˈdue adverb ACCOUNTING past the time when a debt or payment should have been paid: • Nationwide, companies paid their bills an average of nine days past due. * * * past due UK US adjective ACCOUNTING ► past the date on which a payment… … Financial and business terms
Past Due — A loan payment that has not been made as of its due date. A borrower who is past due may be subject to late fees, unless the borrower is still within a grace period. Failure to repay a loan on time could have negative implications for the… … Investment dictionary
Past Due Balance Method — A system for calculating interest charges based on any outstanding loan or credit charges that remain unpaid after a certain date. The past due balance method is used by credit companies whereby credit card holders have until a specified date to… … Investment dictionary
Loan modification in the United States — Loan modification, the systematic alteration of contactual mortgage loan agreements, has been practiced in the United States since the 1930s. During the Great Depression loan modification programs took place at the state level in an effort to… … Wikipedia
due — [djuː ǁ duː] adjective 1. [not before a noun] if an amount of money is due, it must be paid now or at the stated time: • Breakwater said it was unable to meet an interest payment due yesterday. see also past due 2. [only before a noun] LAW prop … Financial and business terms
Loan Committee — The lending or management committee of a bank or other lending institution that analyzes and subsequently approves or rejects any loan that the initial loan officer does not have the authority to approve. First, the committee ensures that the… … Investment dictionary
Loan origination — is the process by which a borrower applies for a new loan, and a lender processes that application. Origination generally includes all the steps from taking a loan application through disbursal of funds (or declining the application). Loan… … Wikipedia
Due-on-sale clause — A due on sale clause is a clause in a loan or promissory note that stipulates that the full balance may be called due upon sale or transfer of ownership of the property used to secure the note. The lender has the right, but not the obligation, to … Wikipedia
Asset-based loan — An asset based loan is a loan, often for a short term, secured by a company s assets. Real estate, A/R, inventory, and equipment are typical assets used to back the loan. The loan may be backed by a single category of assets or some combination… … Wikipedia