Beta! The text on the eCFR tab represents the unofficial eCFR text at ecfr.gov.
§ 220.811 Date of default.
For the purposes of §§ 220.800 et seq., the date of default shall be considered as:
(a) The date of the first uncorrected failure to perform a covenant or obligation under the note or security instrument; or
(b) The date of the first failure to make a monthly payment which subsequent payments by the borrower are insufficient to cover when applied to the overdue monthly payments in the order in which they became due.
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.