Difference between revisions of "FM SFLP.Amortization Type"
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== Definition == | == Definition == | ||
| − | <b>Amortization Type</b> | + | <b>Amortization Type</b>: The classification of the [[Mortgage Loan]] as having either a fixed or an adjustable [[Interest Rate]] at the time the [[Mortgage Loan]] was originated. |
== Notes == | == Notes == | ||
| − | Adjustable Rate Mortgages = ARM | + | * Valid Values: |
| − | + | ** Adjustable Rate Mortgages = ARM | |
| − | The field belongs to the [[FM SFLP Template]] | + | ** Fixed Rate Mortgages = FRM. |
| + | * The field belongs to the [[FM SFLP Template]] | ||
== Field Characteristics == | == Field Characteristics == | ||
* FM SFLP Field Index: 35 | * FM SFLP Field Index: 35 | ||
| + | * Column Label: PRODUCT | ||
* Data Type: Choice | * Data Type: Choice | ||
* Data Maximum Length: X(3) | * Data Maximum Length: X(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] | ||
| + | |||
| + | == See Also == | ||
| + | * [[Amortization Type]] | ||
== Disclaimer == | == Disclaimer == | ||
Latest revision as of 13:11, 17 May 2024
Contents
Definition
Amortization Type: The classification of the Mortgage Loan as having either a fixed or an adjustable Interest Rate at the time the Mortgage Loan was originated.
Notes
- Valid Values:
- 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)
- Temporal Classification: Acquisition
- Data Category: Loan
Implementation
Learn More
Discuss
See Also
Disclaimer
This information is provided as is. Refer to the FM SFLP Template for pointers to definitive instructions about hte SFLP data templates
