24 CFR § 232.840
Date of default
February 22, 2021
In computing loan insurance benefits, the date of default shall be considered as:
(a) The date of the lender's acceleration of the debt because of the borrower's 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 become due.