Difference between revisions of "FM SFLP.Property Preservation and Repair Costs"
From Open Risk Manual
Wiki admin (talk | contribs) |
Wiki admin (talk | contribs) |
||
| Line 1: | Line 1: | ||
| + | == Definition == | ||
| + | <b>Property Preservation and Repair Costs</b>: 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 == | == 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.. | + | * 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]] | |
| − | The field belongs to the [[FM SFLP Template]] | ||
== Field Characteristics == | == Field Characteristics == | ||
* FM SFLP Field Index: 55 | * FM SFLP Field Index: 55 | ||
| − | * Column Label: | + | * Column Label: PROPERTY_COSTS |
* Data Type: NUMERIC | * Data Type: NUMERIC | ||
* Data Maximum Length: 9(10).99 | * Data Maximum Length: 9(10).99 | ||
Revision as of 18:31, 16 May 2024
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_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
