Difference between revisions of "FM SFLP.Amortization Type"
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== Definition == | == Definition == | ||
| − | <b>Amortization Type</b>: The classification of the loan as having either a fixed or an adjustable [[Interest Rate]] at the time the | + | <b>Amortization Type</b>: The classification of the loan as having either a fixed or an adjustable [[Interest Rate]] at the time the [[Mortgage Loan]] was originated. |
== Notes == | == Notes == | ||
| − | * Adjustable Rate Mortgages = ARM | + | * Valid Values: |
| − | * Fixed Rate Mortgages = FRM. | + | ** Adjustable Rate Mortgages = ARM |
| − | + | ** Fixed Rate Mortgages = FRM. | |
| − | + | * The field belongs to the [[FM SFLP Template]] | |
| − | The field belongs to the [[FM SFLP Template]] | ||
== Field Characteristics == | == Field Characteristics == | ||
| Line 15: | Line 13: | ||
* Data Type: Choice | * Data Type: Choice | ||
* Data Maximum Length: X(3) | * Data Maximum Length: X(3) | ||
| + | |||
| + | == See Also == | ||
| + | * [[Amortization Type]] | ||
== Disclaimer == | == Disclaimer == | ||
Revision as of 18:09, 16 May 2024
Definition
Amortization Type: The classification of the loan as having either a fixed or an adjustable Interest Rate at the time the Mortgage Loan was originated.
Notes
- Valid Values:
- Adjustable Rate Mortgages = ARM
- Fixed Rate Mortgages = FRM.
- The field belongs to the FM SFLP Template
Field Characteristics
- FM SFLP Field Index: 35
- Column Label: PRODUCT
- Data Type: Choice
- Data Maximum Length: X(3)
See Also
Disclaimer
This information is provided as is. Refer to the FM SFLP Template for pointers to definitive instructions about hte SFLP data templates
