Difference between revisions of "FM SFLP.ARM Plan Number"
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== Definition == | == Definition == | ||
| − | <b>ARM Plan Number</b>: For an adjustable-rate mortgage loan, a code identifying the standardized plan under which the mortgage loan was delivered to Fannie Mae. The ARM plan outlines the characteristics of the adjustable-rate mortgage loan, including the ARM Index, the Initial Fixed-Rate Period, the Cap Structure, look-back days, assumability, and the option to convert to a fixed-rate mortgage loan.. | + | <b>ARM Plan Number</b>: For an adjustable-rate mortgage loan, a code identifying the standardized plan under which the mortgage loan was delivered to Fannie Mae. |
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| + | The ARM plan outlines the characteristics of the adjustable-rate mortgage loan, including the ARM Index, the Initial Fixed-Rate Period, the Cap Structure, look-back days, assumability, and the option to convert to a fixed-rate mortgage loan.. | ||
== Notes == | == Notes == | ||
Latest revision as of 18:26, 17 January 2023
Definition
ARM Plan Number: For an adjustable-rate mortgage loan, a code identifying the standardized plan under which the mortgage loan was delivered to Fannie Mae.
The ARM plan outlines the characteristics of the adjustable-rate mortgage loan, including the ARM Index, the Initial Fixed-Rate Period, the Cap Structure, look-back days, assumability, and the option to convert to a fixed-rate mortgage loan..
Notes
Applicable to certain CIRT offerings.
The list of ARM Plans can be found in Fannie Mae’s Selling Guide. .
The field belongs to the FM SFLP Template
Field Characteristics
- FM SFLP Field Index: 101
- Column Label: PLAN_NUMBER
- Data Type: NUMERIC
- Data Maximum Length: 9(4)
Disclaimer
This information is provided as is. Refer to the FM SFLP Template for pointers to definitive instructions about hte SFLP data templates
