FM SFLP.Original Combined Loan to Value Ratio
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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