Difference between revisions of "FM SFLP.Original Combined Loan to Value Ratio"
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== Definition == | == Definition == | ||
| − | <b>Original Combined Loan to Value Ratio</b> | + | <b>Original Combined Loan to Value Ratio</b>: The ratio, expressed as a percentage, obtained by dividing the amount of all known [[Outstanding Amount | outstanding loans]] at origination by the value of the property. |
== Notes == | == Notes == | ||
| − | This field is calculated by adding together | + | * This field is calculated by adding together: |
| − | + | ** the original loan amount of the first lien mortgage loan, | |
| − | The field belongs to the [[FM SFLP Template]] | + | ** the amount then currently drawn on a home equity line of credit as of the origination date of the underlying mortgage loan, and |
| + | **the outstanding principal balance of any other subordinate mortgage loan as of the origination date of the underlying mortgage loan, | ||
| + | * and dividing the resulting sum by the lower of | ||
| + | ** the sales price of the mortgaged property and | ||
| + | ** the value of the mortgaged property. | ||
| + | * The field belongs to the [[FM SFLP Template]] | ||
== Field Characteristics == | == Field Characteristics == | ||
* FM SFLP Field Index: 21 | * FM SFLP Field Index: 21 | ||
| + | * Column Label: OCLTV | ||
* Data Type: NUMERIC | * Data Type: NUMERIC | ||
* Data Maximum Length: 9(3) | * Data Maximum Length: 9(3) | ||
| + | * Temporal Classification: Acquisition | ||
| + | * Data Category: Loan | ||
| + | |||
| + | == Implementation == | ||
| + | * [https://github.com/open-risk/openNPL openNPL repository] | ||
| + | |||
| + | == Learn More == | ||
| + | * [https://www.openriskacademy.com/course/index.php?categoryid=37 Mortgage Modeling Courses] | ||
| + | |||
| + | == Discuss == | ||
| + | * [https://www.openriskcommons.org/c/academy/mortgage-modeling/35 Commons Mortgage Modeling Discussions] | ||
| + | * [https://www.openriskcommons.org/c/open-source/opennpl/13 Commons openNPL Discussions] | ||
== Disclaimer == | == Disclaimer == | ||
Latest revision as of 12:56, 17 May 2024
Contents
Definition
Original Combined Loan to Value Ratio: The ratio, expressed as a percentage, obtained by dividing the amount of all known outstanding loans at origination by the value of the property.
Notes
- This field is calculated by adding together:
- the original loan amount of the first lien mortgage loan,
- the amount then currently drawn on a home equity line of credit as of the origination date of the underlying mortgage loan, and
- the outstanding principal balance of any other subordinate mortgage loan as of the origination date of the underlying mortgage loan,
- and dividing the resulting sum by the lower of
- the sales price of the mortgaged property and
- the value of the mortgaged property.
- The field belongs to the FM SFLP Template
Field Characteristics
- FM SFLP Field Index: 21
- Column Label: OCLTV
- Data Type: NUMERIC
- Data Maximum Length: 9(3)
- Temporal Classification: Acquisition
- Data Category: Loan
Implementation
Learn More
Discuss
Disclaimer
This information is provided as is. Refer to the FM SFLP Template for pointers to definitive instructions about hte SFLP data templates
