Difference between revisions of "FM SFLP.Initial Interest Rate Cap"
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== Definition == | == Definition == | ||
<b>Initial Interest Rate Cap</b>: For an adjustable-rate mortgage loan, the maximum percentage points the interest rate can adjust upward at the initial interest rate change date. | <b>Initial Interest Rate Cap</b>: For an adjustable-rate mortgage loan, the maximum percentage points the interest rate can adjust upward at the initial interest rate change date. | ||
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== Field Characteristics == | == Field Characteristics == | ||
* FM SFLP Field Index: 96 | * FM SFLP Field Index: 96 | ||
| − | * Column Label: | + | * Column Label: INITIAL_RATE_CAP |
* Data Type: NUMERIC | * Data Type: NUMERIC | ||
* Data Maximum Length: 9(2).9999 | * Data Maximum Length: 9(2).9999 | ||
Revision as of 19:05, 16 May 2024
Definition
Initial Interest Rate Cap: For an adjustable-rate mortgage loan, the maximum percentage points the interest rate can adjust upward at 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: 96
- Column Label: INITIAL_RATE_CAP
- Data Type: NUMERIC
- Data Maximum Length: 9(2).9999
Disclaimer
This information is provided as is. Refer to the FM SFLP Template for pointers to definitive instructions about hte SFLP data templates
