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A Technical Default Occurs When the Borrower Violates One or More

question 98

True/False

A technical default occurs when the borrower violates one or more loan covenants but has not missed any interest or principal payments.


Definitions:

Welfare of Individuals

The overall health, happiness, and well-being of a person.

Empirically Based Practice

Empirically based practice involves using strategies and methods that have been proven effective through empirical research and systematic observation in professional fields.

Scientific Evidence

Information, facts, or data that are systematically observed, recorded, and tested through scientific methods to establish facts or principles.

Client System

The group of people or entities that are the focus of professional intervention or service efforts.

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