Difference between revisions of "FM SFLP.Amortization Type"

From Open Risk Manual
 
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== Definition ==
 
== Definition ==
<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.
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<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 ==

Latest revision as of 12:27, 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