Traditional Default Rate Report

This report is produced when Traditional Default Rate is selected from the Reports drop-down list. The report is a listing or summary of all federal-type loans (Perkins, NDSL, and Defense), and displays the loans' current status, repayment begin date, payment due date, and principal amounts. For each loan, the loan's delinquency age is computed, and a flag displayed if the loan is considered to be in default. Only federal loans that have a status of "D", "P", "Q", "R" or "S" are selected for this report.

Sumary totals of the following data items are maintained and displayed at the end of the report:

• Total number of federal loans

• Total principal amount (loan amount) of those loans

• Total number of loans flagged as being in default

• Total principal balance associated with the defaulted loans

These totals are also used to compute the "traditional" default rate as follows:

Traditional Default Rate = (Defaulted Principal Balance) / (Total Principal Amount)

Sample Report

The following is a sample Traditional Default Rate report:

Note: This report is setup to print in "Landscape" mode. When printing from the Internet Explorer browser, the report will be printed correctly without user intervention. When printing from the Netscape browser, the user needs to configure the printer in order for the report to be printed in landscape mode. For instructions on how to accomplish this, see Printing Reports in Landscape Mode.

Report Composition

The data elements which comprise the Traditional Default Rate report are described in the following table:

Column Name	Description
Loan Detail Lines
SSN	Borrower's social security number.
Borrower Name	Borrower's name, comprised of "Last", "First".
Loan Name	The name of this loan.
Status	The current status of this loan. See Loan Status Codes for additional information.
Payment Begins	This is the loan's Repayment Begins date.
Payment Due	This is the loan's payment due date.
Principal	The loan's principal amount (the original loan amount).
Principal Balance	The principal balance remaining to be paid on this loan.
Age	The number of days past due this loan is.
Defaulted Flag	A value of "Y" (for defaulted) will appear based upon the loan's payment method and Age values: If the payment method is "M" and the Age value is greater than or equal to 240 days If the payment method is not "M", and the Age value is greater than or equal to 270 days.
Grand Totals line
Principal	The total Principal Amount for all selected loans.
Principal Balance	The total Principal Balance for all selected loans.
Traditional Default Rate section
Total Loans	The total number of loans shown on this report.
Original Principal Amount	The total Principal Amount for all selected loans.
Total Defaulted	The total number of loans that have the Default flag set to "Y" on this report.
Defaulted Principal Balance	The total principal balance associated with the loans that have the Default flag set to "Y" on this report.
Default Rate	The "traditional" default rate, computed as follows: Traditional Default Rate = (Defaulted Principal Balance) / (Total Principal Amount)

Record Selection Criteria

This report retrieves all loan data (and associated Customer information) from the CLM database that meets the following conditions:

• The loan is a federal loan (Perkins, NDSL, and Defense), as determined by the loan type value in the corresponding Notes record

• The loan record has a current status of "D", "P", "Q", "R" or "S".

A separate report detail line is created for each loan record that is retrieved from the database. The detail lines are sorted by borrower SSN and loan name.