21. For the application of section 212 of the Act, the expression “overdue loan” means:
(1) a loan on which the interest is 90 days or more overdue;
(2) a loan on which the interest is overdue and ultimate recovery is uncertain;
(3) a loan of which the initial contractual provisions were altered by reason of the debtor’s default.
The expression does not include a loan that is a mortgage loan of which the repayment is approved or insured within the meaning of the National Housing Act (R.S.C. 1985, c. N-11) or guaranteed or insured by the Government of Québec, another Canadian province, Canada, a territory of Canada or one of their agencies, or under a mortgage insurance policy issued by an insurance company authorized to carry on its activities in Canada.