orig_rate_type

The rate_type at origination.

├── combined
├── fixed
├── tracker
└── variable

combined

Combined Rate - A hybrid rate structure that combines elements of different rate types. This could include a combination of fixed and variable components, or other rate structures that don’t fit into the standard categories.

fixed

Fixed Rate - The interest rate remains constant throughout the life of the loan. The rate is set at origination and does not change, providing predictable payment amounts for the borrower.

tracker

Tracker Rate - The interest rate is directly linked to a specific benchmark rate, typically moving in lockstep with changes to that rate. The rate tracks the benchmark rate with a fixed margin above or below it.

variable

Variable Rate - The interest rate can change over time based on market conditions or other factors. Unlike a tracker rate, the changes may not be directly proportional to changes in a benchmark rate.