FM SFLP.Zero Balance Code
From Open Risk Manual
Revision as of 14:49, 17 January 2023 by Wiki admin (talk | contribs) (Created page with " == Definition == <b>Zero Balance Code</b>.: A code indicating the reason the loan's balance was reduced to zero or experienced a credit event, if applicable. == Notes == 01...")
Definition
Zero Balance Code.: A code indicating the reason the loan's balance was reduced to zero or experienced a credit event, if applicable.
Notes
01 = Prepaid or Matured 02 = Third Party Sale 03 = Short Sale 06 = Repurchased 09 = Deed-in-Lieu; REO Disposition 15 = Notes Sales 16 = Reperforming Loan Sale 96 = Removal (non-credit event)
Applies to all CAS deals prior to and including 2015-C03:
97 = Delinquency (credit event due to D180) 98 = Other Credit Event.
The field belongs to the FM SFLP Template
Field Characteristics
- FM SFLP Field Index: 44
- 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
