A non-performing note from the point of view of a mortgage note investor is the type of notes where the borrower has failed to pay or has defaulted.
If you ask a banker, he’ll most likely say that a mortgage note can become non-performing and delinquent if it becomes greater than 90 days past due. However, to make a non-performing note performing again, the borrower must pay mortgages again in due time for 12 consecutive months.