FM SFLP.Property Preservation and Repair Costs
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