1656 Premium Rate Pattern Code

Code identifying the relative pattern of Mortgage Insurance premium rates charged over the life of the coverage

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Type
Identifier (ID)
Length
Min 1 / Max 1
Codes
CodeDescription
ABack Loaded
Premium rate charged at inception is lower than subsequent recurring premium rates
BFront Loaded
Premium rate charged at inception is greater than subsequent recurring premium rates
CLevel
Premium rate charged at inception and subsequent recurring premium rates are the same unless otherwise modified
DModified front loaded
The premium rate charged at inception and some subsequent premium rates are higher than the following recurring premium rates
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