FM SFLP.Periodic Interest Rate Cap

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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

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