PAY Adjustable Payment Description

To provide the terms of payment adjustment

Position
Element
Name
Type
Requirement
Min
Max
Repeat
PAY01
Monetary Amount
Decimal number (R)
Optional
1
15
-
Monetary amount.
PAY01 is the current (adjusted) payment amount.
PAY02
Percent
Decimal number (R)
Optional
1
10
-
Percentage expressed as a decimal
PAY02 is the payment adjustment cap percent per change.
PAY03
Monetary Amount
Decimal number (R)
Optional
1
15
-
Monetary amount.
PAY03 is the payment adjustment cap amount per change.
PAY04
Percent
Decimal number (R)
Optional
1
10
-
Percentage expressed as a decimal
PAY04 is the payment adjustment life cap percent.
PAY05
Monetary Amount
Decimal number (R)
Optional
1
15
-
Monetary amount.
PAY05 is the payment adjustment life cap amount.
PAY06
Unit of Measurement Code
Identifier (ID)
Conditional
2
2
-
Code identifying the basic unit of measurement.
P0607: If either PAY-06 or PAY-07 is present, then the other is required
PAY06 defines period type from 1st payment to 1st payment change.
PAY07
Quantity
Decimal number (R)
Conditional
1
15
-
Numeric value of quantity.
PAY07 is number of periods from 1st payment to 1st payment change.
PAY08
Unit of Measurement Code
Identifier (ID)
Conditional
2
2
-
Code identifying the basic unit of measurement.
P0809: If either PAY-08 or PAY-09 is present, then the other is required
PAY08 defines period type between payment changes after 1st payment change.
PAY09
Quantity
Decimal number (R)
Conditional
1
15
-
Numeric value of quantity.
PAY09 is the number of periods between payment changes after 1st payment change.
PAY10
Percent
Decimal number (R)
Optional
1
10
-
Percentage expressed as a decimal
PAY11
Percent
Decimal number (R)
Optional
1
10
-
Percentage expressed as a decimal
PAY11 is the optional payment cap percent.
PAY12
Monetary Amount
Decimal number (R)
Optional
1
15
-
Monetary amount.
PAY12 is the optional payment cap amount.
PAY13
Yes/No Condition or Response Code
Identifier (ID)
Optional
1
1
-
Code indicating a Yes or No condition or response.
PAY13 defines whether payment adjustments are scheduled. A "Y" indicates payment adjustments are scheduled. A "N" indicates payment adjustments are not scheduled.
PAY14
Percent
Decimal number (R)
Optional
1
10
-
Percentage expressed as a decimal
PAY14 is the percent by which payment amount changes.
PAY15
Quantity
Decimal number (R)
Conditional
1
15
-
Numeric value of quantity.
P1516: If either PAY-15 or PAY-16 is present, then the other is required
PAY15 is the number of scheduled payment changes.
PAY16
Monetary Amount
Decimal number (R)
Conditional
1
15
-
Monetary amount.
PAY16 is the scheduled payment increase amount per change.
PAY17
Negative Amortization Qualifier
Identifier (ID)
Optional
1
1
-
Code indicating the nature of negative amortization.
PAY17 defines the type of negative amortization.
PAY18
Percent
Decimal number (R)
Optional
1
10
-
Percentage expressed as a decimal
PAY18 is the negative amortization cap percent.
PAY19
Monetary Amount
Decimal number (R)
Optional
1
15
-
Monetary amount.
PAY19 is the negative amortization cap total amount.
PAY20
Negative Amoritzation Cap Source Code
Identifier (ID)
Optional
1
1
-
Code identifying the value used to calculate maximum negative amortization allowed.
PAY20 is the negative amortization cap source.
PAY21
Yes/No Condition or Response Code
Identifier (ID)
Optional
1
1
-
Code indicating a Yes or No condition or response.
PAY21 defines whether payment adjustment cap is optional. A "Y" indicates payment adjustment cap is optional. A "N" indicates payment adjustment cap is not optional.

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