Difference between revisions of "FM SFLP.Lifetime Interest Rate Cap"
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Latest revision as of 13:50, 17 May 2024
Contents
Definition
Lifetime Interest Rate Cap: For an adjustable-rate mortgage loan, the maximum percentage points that the interest rate can adjust upward over the life of the loan relative to the initial interest rate.
Notes
- Applicable to certain CIRT offerings.
- The field belongs to the FM SFLP Template
Field Characteristics
- FM SFLP Field Index: 98
- Column Label: LIFETIME_RATE_CAP
- Data Type: NUMERIC
- Data Maximum Length: 9(2).9999
- 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