MNC Mortgage Note Characteristics

To provide detailed characteristics information of a mortgage note

Position
Element
Name
Type
Requirement
Min
Max
Repeat
MNC-01
Code Category
Identifier (ID)
Optional
2
2
1
Code specifying the situation or category to which the code applies
MNC-02
Real Estate Loan Type Code
Identifier (ID)
Optional
1
1
1
Code identifying the loan product category
MNC-03
Lien Priority Code
Identifier (ID)
Optional
1
1
1
Code identifying the rights and relationship of a loan to any other loan secured by the same property
MNC-04
Loan Payment Type Code
Identifier (ID)
Optional
2
2
1
Code identifying the nature of loan payment
MNC-05
Loan Rate Type Code
Identifier (ID)
Optional
1
1
1
Code indicating the characteristics of the loan rate
MNC-06
Frequency Code
Identifier (ID)
Optional
1
1
1
Code indicating frequency or type of activities or actions being reported
MNC-07
Interest Rate Calculation Method Code
Identifier (ID)
Optional
1
1
1
Code identifying the type of method used to calculate the interest rate
MNC-08
Number
Numeric (N0)
Conditional
1
9
1
A generic number
MNC08 indicates the number of period days used in interest computation.
MNC-09
Number
Numeric (N0)
Conditional
1
9
1
A generic number
P0809: If either MNC-08 or MNC-09 is present, then the other is required
MNC09 indicates the number of yearly days used in interest computation.
MNC-10
Payment Method Type Code
Identifier (ID)
Optional
1
2
1
Code identifying type of payment procedures
MNC-11
Interest Payment Code
Identifier (ID)
Optional
1
2
1
Code identifying the method of interest payment
MNC-12
Product/Service ID Qualifier
Identifier (ID)
Conditional
2
2
1
Code identifying the type/source of the descriptive number used in Product/Service ID (234)
P1213: If either MNC-12 or MNC-13 is present, then the other is required
MNC-13
Product/Service ID
String (AN)
Conditional
1
80
1
Identifying number for a product or service
MNC-14
Product/Process Characteristic Code
Identifier (ID)
Conditional
2
3
1
Code identifying the general class of a product or process characteristic
P1415: If either MNC-14 or MNC-15 is present, then the other is required
MNC-15
Product Description Code
String (AN)
Conditional
1
12
1
A code from an industry code list which provides specific data about a product characteristic
MNC-16
Type of Real Estate Asset Code
Identifier (ID)
Optional
2
2
1
Code identifying the nature of a real estate
MNC-17
Real Estate Loan Security Instrument Code
Identifier (ID)
Optional
1
1
1
Code indicating type of security instrument

Stedi is a registered trademark of Stedi, Inc. Stedi's EDI Reference is provided for marketing purposes and is free of charge. All names, logos, and brands of third parties listed on our site are trademarks of their respective owners (including “X12”, which is a trademark of X12 Incorporated). Stedi, Inc. and its products and services are not endorsed by, sponsored by, or affiliated with these third parties. Our use of these names, logos, and brands is for identification purposes only, and does not imply any such endorsement, sponsorship, or affiliation.