FM SFLP.Mortgage Insurance Cancellation Indicator

Definition

Mortgage Insurance Cancellation Indicator: An indicator that denotes if the mortgage insurance (MI) has been cancelled since origination.

Notes

• Valid Values:
  • Y = MI has been cancelled
  • M = MI has not been cancelled
  • NA = Never has MI
• As of the October 2017 remittance period, the MI coverage status will continue to be populated for loans removed from a given reference pool. Prior to this remittance period, the MI Cancellation reflected “Null” for all loans upon removal. .
• The field belongs to the FM SFLP Template

Field Characteristics

• FM SFLP Field Index: 43
• Column Label: MI_CANCEL_FLAG
• Data Type: ALPHA-NUMERIC
• Data Maximum Length: X (2)
• Temporal Classification: Performance
• Data Category: Loan

Implementation

• openNPL repository

Learn More

• Mortgage Modeling Courses

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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