FM SFLP.Modification Flag

From Open Risk Manual

Definition

Modification Flag: An indicator that denotes if the mortgage loan has been modified.

Notes

  • Y = Yes
  • N = No


The Modification Flag will be set to “Y” once a mortgage loan has been modified. Given the various mortgage loan modification programs available to borrowers, a mortgage loan could be modified more than once.

Although the Modification Flag is already set to “Y” from the first modification, changes related to a subsequent modification will be reflected in the data.

The field belongs to the FM SFLP Template

Field Characteristics

  • FM SFLP Field Index: 42
  • Column Label: MOD_FLAG
  • Data Type: Boolean
  • Data Maximum Length: X(1)

Disclaimer

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