LN2 Existing Real Estate Loan Specific Data

To provide specific information about a real estate loan

Position
Element
Name
Type
Requirement
Min
Max
Repeat
LN201
Lien Priority Code
Identifier (ID)
Mandatory
1
1
1
Code identifying the rights and relationship of a loan to any other loan secured by the same property
LN202
Real Estate Loan Type Code
Identifier (ID)
Mandatory
1
1
1
Code identifying the loan product category
LN203
Percent
Decimal number (R)
Conditional
1
10
1
Percentage expressed as a decimal
P0304: If either LN2-03 or LN2-04 is present, then the other is required
LN203 is the current loan note rate.
LN204
Frequency Code
Identifier (ID)
Conditional
1
1
1
Code indicating frequency or type of activities or actions being reported
LN204 is the period type for payment frequency.
LN205
Loan Payment Type Code
Identifier (ID)
Optional
2
2
1
Code identifying the nature of loan payment
LN206
Yes/No Condition or Response Code
Identifier (ID)
Optional
1
1
1
Code indicating a Yes or No condition or response
LN206 defines whether the loan is assumable. A "Y" indicates it is; an "N" indicates it is not.
LN207
Assumption Terms Code
Identifier (ID)
Optional
1
1
1
Code indicating the terms for loan assumption
LN208
Name
String (AN)
Optional
1
60
1
Free-form name
LN208 is the lender's name.
LN209
Reference Identifier
Composite (composite)
Optional
1
01
Reference Identification Qualifier
Identifier (ID)
Mandatory
2
3
-
Code qualifying the Reference Identification
02
Reference Identification
String (AN)
Mandatory
1
50
-
Reference information as defined for a particular Transaction Set or as specified by the Reference Identification Qualifier
03
Reference Identification Qualifier
Identifier (ID)
Conditional
2
3
-
Code qualifying the Reference Identification
P0304: If either C040-03 or C040-04 is present, then the other is required
04
Reference Identification
String (AN)
Conditional
1
50
-
Reference information as defined for a particular Transaction Set or as specified by the Reference Identification Qualifier
05
Reference Identification Qualifier
Identifier (ID)
Conditional
2
3
-
Code qualifying the Reference Identification
P0506: If either C040-05 or C040-06 is present, then the other is required
06
Reference Identification
String (AN)
Conditional
1
50
-
Reference information as defined for a particular Transaction Set or as specified by the Reference Identification Qualifier
LN210
Quantity Qualifier
Identifier (ID)
Conditional
2
2
1
Code specifying the type of quantity
LN211
Quantity
Decimal number (R)
Optional
1
15
1
Numeric value of quantity
C1110: If LN2-11 is present, then LN2-10 is required
LN211 is the initial term of the loan.
LN212
Quantity
Decimal number (R)
Optional
1
15
1
Numeric value of quantity
C1210: If LN2-12 is present, then LN2-10 is required
LN212 is the remaining term of the loan.

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