We have an internal discussion in progress regarding when a loan should be considered 30 days late for credit reporting purposes. My opinion is that we should report accounts as 30 days past due if the payment is not paid within 29 days of the due date. For example, if payment is due on 7/15, and it's not paid by 8/13, it should be considered 30 days past due. The CBIA Metro II reporting guide seems to support that method. The other argument is that an account should not be reported as 30 days past due until the next payment due date arrives, regardless of how may calendar days there were between the two due dates.
I haven't been able to find any regulatory guidance on this question, and the credit bureaus themselves haven't really offered much guidance when asked. Also searched Bankers Threads & didn't find any previous discussion on the subject.
Any guidance, opinions, info, etc. regarding this issue will be greatly appreciated!

I've worked on systems that used each and it was a surprise to us when the last system counted the actual days and the prior used one payment to the next.

I'm not sure there is a definition unless defined by the credit bureaus. But I don't know that it is.

Thinking out loud it would seem most loan systems would have to incorporate both ways of accounting for delinquencies because of the loans that are not obligated to make a payment every 30 days. Pay dates could be less or more than 30 days. It would seem more reasonable to count the actual days, but I have never seen any regulatory guidance or CB guidance on this question.