FM SFLP.Scheduled Principal Current

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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
  • 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

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