Code identifying the nature of loan payment
Type
ID
Length
Max 2 / Min 2
Codes
<> 01
Adjustable Payment Based on Index
<> 02
Fixed Payment with Balloon Option
<> 03
Pledged
<> 04
Growing Equity Mortgage (GEM)
<> 05
Fixed Payment
<> 06
Graduated Payment Mortgage (GPM)
<> 07
Interest Only with Balloon
<> 08
Graduated Payment Adjustable Rate Mortgage
<> 09
Extended Term
<> 10
Wraparound Mortgage
<> 11
Collateral Pledge Graduated Payment Mortgage
<> 12
Fixed Payment With Buydown
<> 13
Other Loan Payment Type
<> 14
Step Rate
<> 15
Tiered
<> 16
Renegotiated Rate
<> 17
Reverse Annuity
<> 18
Reverse Installment Buydown
<> 19
Shared Appreciation
<> 20
Second Mortgage
<> 21
Interest Only
<> 22
Non-level
<> 23
Biweekly
<> 24
Five-year Balloon
<> 25
Seven-year Balloon
<> 26
Regular Reducing
<> 27
Skip
<> 28
Balloon
<> 29
Single
<> 30
Fixed Principal Payment
<> 32
Start Up Mortgage
