A term referring to a mortgage loan that is older than one year.
A loan with a good payment record.
A loan on which several payments have been collected. In most cases, a 12-month payment history is a fully seasoned loan.
A loan that has been on the association's books long enough to demonstrate that the borrower's credit is sound.
A loan that has been closed and on a lender's books for at least 12 months.
A loan is considered seasoned when it has been in existence long enough to show a good, steady pattern of payments from the borrower.