FM SFLP.Lifetime Interest Rate Cap

Definition

Lifetime Interest Rate Cap: For an adjustable-rate mortgage loan, the maximum percentage points that the interest rate can adjust upward over the life of the loan relative to the initial interest rate.

Notes

• Applicable to certain CIRT offerings.
• The field belongs to the FM SFLP Template

Field Characteristics

• FM SFLP Field Index: 98
• Column Label: LIFETIME_RATE_CAP
• Data Type: NUMERIC
• Data Maximum Length: 9(2).9999
• Temporal Classification: Acquisition
• Data Category: Loan

Implementation

• openNPL repository

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Disclaimer

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