The Loan Status field is a critical data point that allows users to easily identify the delinquency status of any given loan at a particular point in time. dv01 standardizes and normalizes the acceptable Loan Status values for each asset class, which are defined below:
Consumer Unsecured
Loan Status Value | Definition | Short Label | Outstanding / Terminal Status+ |
|---|---|---|---|
Current | The borrower is not delinquent, and there is an outstanding balance. | Current | Outstanding |
1 - 29 Days Delinquent | The borrower is between 1 and 29 days past due on the loan. | 1-29 DPD Delinquent | Outstanding |
30 - 59 Days Delinquent | The borrower is between 30 and 59 days past due on the loan. | 30-59 DPD | Outstanding |
60 - 89 Days Delinquent | The borrower is between 60 and 89 days past due on the loan. | 60-89 DPD | Outstanding |
90 - 119 Days Delinquent | The borrower is between 90 and 119 days past due on the loan. | 90-119 DPD | Outstanding |
>= 120 Days Delinquent | The borrower is 120 or more days past due on the loan, but has not been charged-off per the servicer’s policy. | 120+ DPD | Outstanding |
Paid Off | The borrower has fully paid off the loan. | PIF | Terminal |
Paid Off - Negative Balance | The borrower has fully paid off the loan, but there is an outstanding, negative balance that is pending a refund to the borrower. | PIF Neg Bal | Outstanding |
Charged Off* | The borrower has been charged-off, as per the servicer’s policy. | CO | Terminal |
Removed | The loan has been removed from the pool, due to a secondary market transactions, a repurchase, or other specific circumstances. | Removed | Terminal |
Notes:
*Please note that loans that have been removed from pools due to debt sales will have the corresponding debt sale proceeds fields populated throughout the application, but continue to be marked as charged-off.
Mortgages
Loan Status Value | Definition | Short Label | Outstanding / Terminal Status+ |
|---|---|---|---|
Current | The borrower is not delinquent, and there is an outstanding balance. | Current | Outstanding |
30 - 59 Days Delinquent | The borrower is between 30 and 59 days past due on the loan. | 30-59 DPD | Outstanding |
60 - 89 Days Delinquent | The borrower is between 60 and 89 days past due on the loan. | 60-89 DPD | Outstanding |
90 - 119 Days Delinquent | The borrower is between 90 and 119 days past due on the loan. | 90-119 DPD | Outstanding |
120 - 149 Days Delinquent | The borrower is between 120 and 149 days past due on the loan. | 120-149 DPD | Outstanding |
150 - 179 Days Delinquent | The borrower is between 150 and 179 days past due on the loan. | 150-179 DPD | Outstanding |
>= 180 Days Delinquent | The borrower is 180 or more days past due on the loan, but has not been charged-off per the servicer’s policy. | 180+ DPD | Outstanding |
Foreclosure | The borrower has entered the Foreclosure process. | Foreclosure | Outstanding |
Real Estate Owned (REO) | Another party has taken ownership of the property associated with the loan. | REO | Outstanding |
Paid Off | The borrower has fully paid off the loan. | PIF | Terminal |
Credit Event | The borrower has experienced a credit event that impacts his / her ability to make payments on the loan. | Credit Event | Terminal |
Removed | The loan has been removed from a given pool. | Removed | Terminal |
+Loans that are Outstanding are considered to have an active, outstanding balance. Multiple views across the application allow for the user to toggle between showing only loans that are outstanding and all loans that were ever part of a pool.