FM SFLP.Periodic Interest Rate Cap
From Open Risk Manual
Definition
Periodic Interest Rate Cap: For an adjustable-rate mortgage loan, the maximum percentage points the interest rate can adjust upward at each interest rate change date after the initial interest rate change date.
Notes
- Applicable to certain CIRT offerings.
- The field belongs to the FM SFLP Template
Field Characteristics
- FM SFLP Field Index: 97
- Column Label: PERIODIC_RATE_CAP
- Data Type: NUMERIC
- Data Maximum Length: 9(2).9999
Disclaimer
This information is provided as is. Refer to the FM SFLP Template for pointers to definitive instructions about hte SFLP data templates
