Difference between revisions of "FM SFLP.Periodic Interest Rate Cap"
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== Definition == | == Definition == | ||
<b>Periodic Interest Rate Cap</b>: 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. | <b>Periodic Interest Rate Cap</b>: 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 == | == Notes == | ||
| − | Applicable to certain CIRT offerings. | + | * Applicable to certain CIRT offerings. |
| − | + | * The field belongs to the [[FM SFLP Template]] | |
| − | The field belongs to the [[FM SFLP Template]] | ||
== Field Characteristics == | == Field Characteristics == | ||
* FM SFLP Field Index: 97 | * FM SFLP Field Index: 97 | ||
| − | * Column Label: | + | * Column Label: PERIODIC_RATE_CAP |
* Data Type: NUMERIC | * Data Type: NUMERIC | ||
* Data Maximum Length: 9(2).9999 | * Data Maximum Length: 9(2).9999 | ||
Revision as of 19:06, 16 May 2024
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
