Difference between revisions of "FM SFLP.Scheduled Principal Current"
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== Notes == | == Notes == | ||
| − | The scheduled principal amount may be affected by changes to the amortization schedule resulting from prior period borrower prepayments of principal (e.g., unscheduled principal payments), advanced scheduled payments, delinquency status of the loan, or corrections of previously made errors related to principal payments | + | The scheduled principal amount may be affected by changes to the amortization schedule resulting from prior period borrower prepayments of principal (e.g., unscheduled principal payments), advanced scheduled payments, delinquency status of the loan, or corrections of previously made errors related to principal payments. |
The field belongs to the [[FM SFLP Template]] | The field belongs to the [[FM SFLP Template]] | ||
Revision as of 18:09, 17 January 2023
Definition
Scheduled Principal Current: The minimum principal payment the borrower is obligated to pay for the corresponding reporting period, based on the terms provided in the related mortgage loan documents, provided that the payment is collected from the borrower by the servicer and reported to Fannie Mae for the corresponding reporting period.
Notes
The scheduled principal amount may be affected by changes to the amortization schedule resulting from prior period borrower prepayments of principal (e.g., unscheduled principal payments), advanced scheduled payments, delinquency status of the loan, or corrections of previously made errors related to principal payments.
The field belongs to the FM SFLP Template
Field Characteristics
- FM SFLP Field Index: 48
- Column Label: CURR_SCHD_PRNCPL
- Data Type: NUMERIC
- Data Maximum Length: 9(10).99
Disclaimer
This information is provided as is. Refer to the FM SFLP Template for pointers to definitive instructions about hte SFLP data templates
