FM SFLP.ARM Plan Number
From Open Risk Manual
Contents
Definition
ARM Plan Number: For an adjustable-rate mortgage loan, a code identifying the standardized plan under which the mortgage loan was delivered to Fannie Mae.
The ARM plan outlines the characteristics of the adjustable-rate mortgage loan, including
- the ARM Index
- the Initial Fixed-Rate Period
- the Cap Structure
- the look-back days
- assumability, and
- the option to convert to a fixed-rate mortgage loan.
Notes
- Applicable to certain CIRT offerings.
- The list of ARM Plans can be found in Fannie Mae’s Selling Guide. .
- The field belongs to the FM SFLP Template
Field Characteristics
- FM SFLP Field Index: 101
- Column Label: PLAN_NUMBER
- Data Type: NUMERIC
- Data Maximum Length: 9(4)
- Temporal Classification: Acquisition
- Data Category: Loan
Implementation
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Disclaimer
This information is provided as is. Refer to the FM SFLP Template for pointers to definitive instructions about hte SFLP data templates
