AmortizationType

Description
A classification or description of a loan or a group of loans generally based on the changeability of the rate or payment over time.

Type : AmortizationEnum
Value Description
AdjustableRateA mortgage that allows the lender to adjust the interest rate in accordance with a specified index periodically.
FixedA mortgage in which the interest rate and payments remain the same for the life of the loan.
GEMGEM (Growing Equity Mortgage) - A graduated payment mortgage in which increases in a borrowers mortgage payments are used to accelerate reduction of principal on the mortgage. Due to increased payment, the borrower acquires equity more rapidly and retires the debt earlier.
GPMGPM - (Graduated Payment Mortgage) A type of flexible payment mortgage where the payments increase for a specified period of time and then level off. Usually involves negative amortization.
GraduatedPaymentARMPeriodic payments/rate changes with additional specified principal and interest changes as documented in the Security Instruments.
OtherUsed to describe the amortization type if it is other than those specified in the enumerated list of Loan Amortization Types.
RateImprovementMortgageA type of flexible mortgage where the interest rate may decrease based on payment history.
StepFixed periodic payment/rate changes without subsidy or negative amortization.

Definition
A classification or description of a loan or a group of loans generally based on the changeability of the rate or payment over time.
(Defined in file MISMO_3.4.0_B324.xsd , or a file it imports)

Attributes
DataNotSuppliedReasonTypeA value from a MISMO prescribed list that specifies the reason a specific data point is not included in the message.
DataNotSuppliedReasonTypeAdditionalDescriptionA free-form text field used to provide a supplemental comment or remark regarding the Data Not Supplied Reason Type.
DataNotSuppliedReasonTypeOtherDescriptionA free-form text field used to capture the enumeration when Other is selected for Data Not Supplied Reason Type.
label
SensitiveIndicatorAllows producers and consumers of XML instance documents that are valid MISMO V3 documents to mark any data point to be treated as sensitive. MISMO recommends that any use of a data point labeled as "Sensitive Information" in the LDD ALWAYS have this attribute set to "true".

Parents
\MESSAGE\DEAL_SETS\DEAL_SET\DEALS\DEAL\LOANS\LOAN\AMORTIZATION\AMORTIZATION_RULE
\MESSAGE\DEAL_SETS\DEAL_SET\POOL\POOL_DETAIL
\MESSAGE\DEAL_SETS\DEAL_SET\DEALS\DEAL\ASSETS\ASSET\OWNED_PROPERTY\PROPERTY\PROJECT\PROJECT_BLANKET_FINANCINGS\PROJECT_BLANKET_FINANCING