FM SFLP.Periodic Interest Rate Cap

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
• Temporal Classification: Performance
• 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