Definitions: Performing, Re-Performing, Semi-Performing?

[Bryan Hartlen]

The more people I talk with the more it appears that there isn't a firm definition of performance; or folks are liberally using the terms depending on whether they are buying or selling.  

Is there a trusted source that defines these terms?  If not, how is your definition different from mine?

• Performing:  all payments current and on time over the last 12 months.  Could be an original note or a loan mod.
• Re-performing: current but has missed one or more payments over the last 12 months.  Could be an original note or a loan mod.
• Semi-Performing: not current but making regular payments (eg 1 or 2 months behind for the last 6 months)
• Non-Performing: not current, making no payments or sporadic payments.

[Chris Seveney]

@Bryan Hartlen

I view the terms similar to real estate when they say live-in condition.

To me performing is 12 months of on-time payments, some view it as a current loan, others could view it where borrower pays every 3 months but pays for 3 months worth. Performing is a loose term.

To me their is no such thing as semi-performing when valuing an asset to bid on. It’s either performing or non Performing.