Difference between revisions of "FM SFLP.Original Combined Loan to Value Ratio"
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== Definition == | == Definition == | ||
<b>Original Combined Loan to Value Ratio</b>: The ratio, expressed as a percentage, obtained by dividing the amount of all known outstanding loans at origination by the value of the property. | <b>Original Combined Loan to Value Ratio</b>: The ratio, expressed as a percentage, obtained by dividing the amount of all known outstanding loans at origination by the value of the property. | ||
== Notes == | == Notes == | ||
| − | This field is calculated by adding together (i) the original loan amount of the first lien mortgage loan, (ii) the amount then currently drawn on a home equity line of credit as of the origination date of the underlying mortgage loan, and (iii) the outstanding principal balance of any other subordinate mortgage loan as of the origination date of the underlying mortgage loan, and dividing the resulting sum by the lower of (x) the sales price of the mortgaged property and (y) the value of the mortgaged property. | + | This field is calculated by adding together |
| + | * (i) the original loan amount of the first lien mortgage loan, | ||
| + | * (ii) the amount then currently drawn on a home equity line of credit as of the origination date of the underlying mortgage loan, and | ||
| + | * (iii) the outstanding principal balance of any other subordinate mortgage loan as of the origination date of the underlying mortgage loan, | ||
| + | |||
| + | |||
| + | and dividing the resulting sum by the lower of | ||
| + | * (x) the sales price of the mortgaged property and | ||
| + | * (y) the value of the mortgaged property. | ||
| + | |||
The field belongs to the [[FM SFLP Template]] | The field belongs to the [[FM SFLP Template]] | ||
Latest revision as of 13:17, 13 March 2023
Definition
Original Combined Loan to Value Ratio: The ratio, expressed as a percentage, obtained by dividing the amount of all known outstanding loans at origination by the value of the property.
Notes
This field is calculated by adding together
- (i) the original loan amount of the first lien mortgage loan,
- (ii) the amount then currently drawn on a home equity line of credit as of the origination date of the underlying mortgage loan, and
- (iii) the outstanding principal balance of any other subordinate mortgage loan as of the origination date of the underlying mortgage loan,
and dividing the resulting sum by the lower of
- (x) the sales price of the mortgaged property and
- (y) the value of the mortgaged property.
The field belongs to the FM SFLP Template
Field Characteristics
- FM SFLP Field Index: 21
- Column Label: OCLTV
- Data Type: NUMERIC
- Data Maximum Length: 9(3)
Disclaimer
This information is provided as is. Refer to the FM SFLP Template for pointers to definitive instructions about hte SFLP data templates
