To describe terms of rate adjustment
RAT01 defines period type from the first payment to the first rate change.
Numeric value of quantity
RAT02 is number of periods from the first payment to the first rate change.
Code identifying the index value used for adjustable rate mortgage rate changes
RAT03 defines the index used to adjust the mortgage interest rate.
Percentage expressed as a decimal
RAT04 is the adjustment margin to add to the index value.
Percentage expressed as a decimal
RAT05 is the initial index percent value.
Percentage expressed as a decimal
RAT06 is the initial periodic interest rate cap percent.
RAT07 is the period type from the first payment until rate caps no longer apply.
Numeric value of quantity
RAT08 is the number of periods from the first payment until rate caps no longer apply.
RAT09 is the period type between rate changes after the first.
Numeric value of quantity
RAT10 is the number of periods between rate changes after the first.
Code indicating a Yes or No condition or response
RAT11 defines whether a loan may be converted to fixed rate. A "Y" indicates it may be converted to a fixed loan; an "N"' indicates it may not.
Percentage expressed as a decimal
RAT12 is the interest rate life cap percent.
Percentage expressed as a decimal
RAT13 is the interest rate life floor percent.
Percentage expressed as a decimal
RAT14 is the rounding percent used for adjusting rates.
Code indicating the mechanism used to round a calculated value
RAT15 defines the rounding mechanism to be used.
Code identifying the rate life cap source
RAT16 is the interest rate life cap source code.
Percentage expressed as a decimal
RAT17 is the rate cap percent for changes after the first periodic rate adjustment.