Sallie Mae 2015 Annual Report Download - page 123

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SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, unless otherwise noted)
6. Allowance for Loan Losses (Continued)
F-33
The following table provides the average recorded investment and interest income recognized for our TDR loans.
Years Ended December 31,
2015 2014
Average
Recorded
Investment
Interest
Income
Recognized
Average
Recorded
Investment
Interest
Income
Recognized
TDR Loans. . . . . . . . . . . . $ 174,087 $ 14,081 $ 23,290 $ 1,105
The following table provides information regarding the loan status and aging of TDR loans.
December 31, December 31,
2015 2014
Balance % Balance %
TDR loans in in-school/grace/deferment(1) . . . . . . . . . . . $ 6,869 $ 2,915
TDR loans in forbearance(2). . . . . . . . . . . . . . . . . . . . . . . 43,756 18,620
TDR loans in repayment(3) and percentage of each
status:
Loans current. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 185,936 86.4% 34,554 91.2%
Loans delinquent 31-60 days(4) . . . . . . . . . . . . . . . . . . 14,948 6.9 1,953 5.2
Loans delinquent 61-90 days(4) . . . . . . . . . . . . . . . . . . 9,239 4.3 983 2.6
Loans delinquent greater than 90 days(4). . . . . . . . . . . 5,083 2.4 377 1.0
Total TDR loans in repayment . . . . . . . . . . . . . . . . . . . 215,206 100.0% 37,867 100.0%
Total TDR loans, gross . . . . . . . . . . . . . . . . . . . . . . . . . . $ 265,831 $ 59,402
_____
(1) Deferment includes customers who have returned to school or are engaged in other permitted
educational activities and are not yet required to make payments on the loans (e.g., residency
periods for medical students or a grace period for bar exam preparation).
(2) Loans for customers who have requested extension of grace period generally during employment
transition or who have temporarily ceased making full payments due to hardship or other factors,
consistent with established loan program servicing policies and procedures.
(3) Loans in repayment include loans on which borrowers are making interest only and fixed
payments as well as loans that have entered full principal and interest repayment status.
(4) The period of delinquency is based on the number of days scheduled payments are contractually
past due.