FM SFLP.Property Preservation and Repair Costs

Definition

Property Preservation and Repair Costs: The expenses associated with securing and preserving the property including two major categories: maintenance and repairs.

Maintenance costs are associated with preserving the property through normal upkeep, while repairs are associated with either avoiding deterioration of the asset or a marketing decision to help maximize sales proceeds upon final disposition.

Notes

• This field will be populated after the disclosed disposition date of the mortgage loan or the subject property, as applicable, based on individual CRT deal claims and reporting timelines..
• The field belongs to the FM SFLP Template

Field Characteristics

• FM SFLP Field Index: 55
• Column Label: PROPERTY_COSTS
• Data Type: NUMERIC
• Data Maximum Length: 9(10).99
• Temporal Classification: Performance
• Data Category: PropertyCollateral

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