FM SFLP.ARM Plan Number

From Open Risk Manual

Definition

ARM Plan Number: For an adjustable-rate mortgage loan, a code identifying the standardized plan under which the mortgage loan was delivered to Fannie Mae.

The ARM plan outlines the characteristics of the adjustable-rate mortgage loan, including the ARM Index, the Initial Fixed-Rate Period, the Cap Structure, look-back days, assumability, and the option to convert to a fixed-rate mortgage loan..

Notes

Applicable to certain CIRT offerings.

The list of ARM Plans can be found in Fannie Mae’s Selling Guide. .

The field belongs to the FM SFLP Template

Field Characteristics

  • FM SFLP Field Index: 101
  • Column Label: PLAN_NUMBER
  • Data Type: NUMERIC
  • Data Maximum Length: 9(4)

Disclaimer

This information is provided as is. Refer to the FM SFLP Template for pointers to definitive instructions about hte SFLP data templates