A code indicating the reason the loan's balance was reduced to zero or experienced a credit event. The codes include:
01 = Prepaid or Matured (non-credit event prior to D180)
03 = Short sale, Short Payoff, Deed-in-lieu, etc (credit event prior to D180)
06 = Repurchased (non-credit event prior to D180)
97 = Delinquency (credit event due to D180)
A code indicating the reason the mortgage loan's balance was reduced to zero or has become 180 days or more delinquent.
Loan performance activity for a mortgage loan will no longer be published after a Zero Balance Code event is triggered. In the activity month that a loan becomes 180 days or more delinquent, the actual UPB of the mortgage loan will be reported instead of being defaulted to zero.