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Loan Type Descriptions

Loan Type

Description

1 Stand Alone First
2 Stand Alone Second
3 ARM
4 Amount keyed is an Aggregate amount
5 USDA
6 Closed-end Mortgage
A Assumption
B Building or Construction Loan
C Cash
D 2nd Mortgage made to cover Down Payment
E Credit Line (Revolving)
F FHA
G Fannie Mae/Freddie Mac
H Balloon
I Farmers Home Administration
J Negative Amortization
K Loan Amount $1-9 billion
L Land Contract (Argmt. Of Sale)
M Modification
N New Conventional
O Commercial
P Purchase Money Mortgage
Q Undefined / Multiple Amounts
R Stand Alone Refi (Refinance of Original Loan)
S Seller take-back
T Loan Amount $10-99 billion
U Unknown (DEFAULT)
V VA
W Future Advance Clause / Open End Mortgage
X Trade
Y State Veterans
Z Reverse Mortgage