A breach of the mortgage contract, other than the failure to make
the periodic payment, does not begin a delinquency under the rule.
In the event of another contractual breach (i.e. waste or
abandonment), a servicer may accelerate payment if permitted by
the mortgage loan and applicable law.
The amount due after acceleration would be the new periodic
payment for purposes of calculating the period of delinquency.
Delinquency begins on the day the borrower fails to remit the
accelerated payment.
8
Other Contractual Breaches
