[quote=peterb]Without an NOD, how would this be calculated? I think the collections dept of the lender/servicers are the only ones that may know the truth about this. Who would they tell?[/quote]
Delinquencies get reported to credit agencies. NODs are kind of pointless to track and muddy the waters, IMO. Once a borrower gets to 90 days late they, statistically speaking, will default. Actually, you can place a mathematical probability of default on all levels of delinquencies. From what I have read lenders are not yet taking anybody over 60 days late for loan mods. So looking at 90 day lates would be as close as you can get to accuracy for these sorts of things.
Kelly Bennet has had a few good pieces with delinquencies stats. I’m not sure where she got them, though.
