FM SFLP.Property Preservation and Repair Costs

From Open Risk Manual

Definition

Property Preservation and Repair Costs: The expenses associated with securing and preserving the property including two major categories: maintenance and repairs. Maintenance costs are associated with preserving the property through normal upkeep, while repairs are associated with either avoiding deterioration of the asset or a marketing decision to help maximize sales proceeds upon final disposition.

Notes

This field will be populated after the disclosed disposition date of the mortgage loan or the subject property, as applicable, based on individual CRT deal claims and reporting timelines..

The field belongs to the FM SFLP Template

Field Characteristics

  • FM SFLP Field Index: 55
  • Column Label: PROPERTY_PRESERVATION_AND_REPAIR_COSTS
  • Data Type: NUMERIC
  • Data Maximum Length: 9(10).99

Disclaimer

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