Difference between revisions of "FM SFLP.Amortization Type"
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== Definition == | == Definition == | ||
| − | <b>Amortization Type</b>: The classification of the loan as having either a fixed | + | <b>Amortization Type</b>: The classification of the loan as having either a fixed or an adjustable [[Interest Rate]] at the time the loan was originated. |
== Notes == | == Notes == | ||
| − | Adjustable Rate Mortgages = ARM | + | * Adjustable Rate Mortgages = ARM |
| + | * Fixed Rate Mortgages = FRM. | ||
| + | |||
The field belongs to the [[FM SFLP Template]] | The field belongs to the [[FM SFLP Template]] | ||
Latest revision as of 13:27, 13 March 2023
Definition
Amortization Type: The classification of the loan as having either a fixed or an adjustable Interest Rate at the time the loan was originated.
Notes
- Adjustable Rate Mortgages = ARM
- Fixed Rate Mortgages = FRM.
The field belongs to the FM SFLP Template
Field Characteristics
- FM SFLP Field Index: 35
- Column Label: PRODUCT
- Data Type: Choice
- Data Maximum Length: X(3)
Disclaimer
This information is provided as is. Refer to the FM SFLP Template for pointers to definitive instructions about hte SFLP data templates
