Prepayment Penalty Type definition
Prepayment Penalty Type. Hard: The prepayment penalty is incurred regardless of the reason the loan is prepaid in full. • Hybrid: The prepayment penalty can be characterized as hard for a certain amount of time and as soft during another period. Prepayment Penalties Numeric – Integer 1 99 All loans with Prepayment Penalties (i.e., loans for which Field 66 = something other than “0”) See Coding 1 = Hard 2 = Soft 3 = Hybrid 99 = Unknown
Examples of Prepayment Penalty Type in a sentence
Prepayment Penalties Numeric – Integer 12 99 Always See Coding See Appendix C 67 Prepayment Penalty Type • Hard: The prepayment penalty is incurred regardless of the reason the loan is prepaid in full.