Data Dictionary
Item Number K675
NONTRADITIONAL 1-4 FAMILY RESIDENTIAL MORTGAGE LOANSCall confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| RCFDK675 | 2011-06-30 | 2013-03-31 | Yes | FFIEC 031 |
| RCONK675 | 2011-06-30 | 2013-03-31 | Yes | Multiple Forms |
| SVGLK675 | 2011-06-30 | 2011-12-31 | Yes | OTS 1313 |
Data Description:
Report the balance sheet amount of nontraditional 1-4 family residential mortgage loans (in domestic offices), which include all 1-4 family residential loan products that allow the borrower to defer repayment of principal or interest and includes all interest-only products, teaser rate mortgages, and negative amortizing mortgages, with the exception of home equity lines of credit and reverse mortgages. Nontraditional 1-4 family residential mortgage loans should include simultaneous second lien loans and closed-end home equity loans to the extent such loans meet any of the characteristics described above.
A teaser-rate mortgage loan is defined as a mortgage with a discounted initial rate where the lender offers a lower rate and lower payments for part of the mortgage term. A mortgage loan is no longer considered a nontraditional mortgage once the teaser rate has expired, or in the case of an escalating interest rate, once the rate is no longer discounted and the borrower is making full principal and interest payments (has not been granted any principal and interest concessions).
Nontraditional 1-4 family residential mortgage loans also include securitizations where more than 50 percent of the assets backing the securitization meet one or more of the preceding criteria for nontraditional 1-4 family residential mortgage loans, with the exception of those securities classified as trading book.
The amount to be reported for nontraditional mortgage loans should include purchased credit impaired loans as defined in ASC Subtopic 310-30, Receivables - Loans and Debt Securities Acquired with Deteriorated Credit Quality (formerly AICPA Statement of Position 03-3, "Accounting for Certain Loans or Debt Securities Acquired in a Transfer"), provided they meet the characteristics of nontraditional as described above.
The amount to be reported in this item should exclude amounts recoverable on nontraditional mortgage loans from the U.S. government, its agencies, or government-sponsored agencies, under guarantee or insurance provisions.