To specify legal outcome and impact of foreclosure on a lender's claim for mortgage insurance benefits
Code identifying the deficiency judgment
FCL01 indicates whether mortgagee obtained a deficiency judgment against mortgagor.
Code indicating a Yes or No condition or response
FCL02 indicates whether mortgagee's bid for real estate property was successful. A "Y" indicates that it was; an "N" indicates that it was not.
Code to qualify amount
P0304: If either FCL-03 or FCL-04 is present, then the other is required
FCL03 and FCL04 indicate the authorized bid amount.
Code indicating reason for debit or credit memo or adjustment to invoice, debit or credit memo, or payment
FCL05 indicates factors that will cause an adjustment to mortgagee's claim, for example, the sale of the mortgaged real estate property.