LN Loan Information

To specify information about the loan

Sequence

Element

Name

Type

Requirement

Min

Max

Repeat

01

127

Reference Identification

String (AN)

Mandatory

1

80

1

Reference information as defined for a particular Transaction Set or as specified by the Reference Identification Qualifier

LN01 is the loan number.

02

782

Monetary Amount

Decimal number (R)

Mandatory

1

18

1

Monetary amount

LN02 is the account balance.

03

1250

Date Time Period Format Qualifier

Identifier (ID)

Conditional

2

3

1

Code indicating the date format, time format, or date and time format

P0304: If either LN-03 or LN-04 is present, then the other is required

Codes (42)

04

1251

Date Time Period

String (AN)

Conditional

1

35

1

Expression of a date, a time, or range of dates, times or dates and times

LN04 is the date of the loan.

05

594

Frequency Code

Identifier (ID)

Conditional

1

1

1

Code indicating frequency or type of activities or actions being reported

P0506: If either LN-05 or LN-06 is present, then the other is required

LN05 is the payment frequency.

Codes (23)

06

782

Monetary Amount

Decimal number (R)

Conditional

1

18

1

Monetary amount

LN06 is the payment amount.

07

954

Percentage as Decimal

Decimal number (R)

Optional

1

10

1

Percentage expressed as a decimal (e.g., 0.0 through 1.0 represents 0% through 100%)

LN07 is the interest rate of the loan.

08

1073

Yes/No Condition or Response Code

Identifier (ID)

Optional

1

1

1

Code indicating a Yes or No condition or response

LN08 designates whether this is an open or closed end loan. A "Y" designates an open end loan; an "N" designates a closed end loan.

Codes (9)

09

1081

Loan Purpose Code

Identifier (ID)

Optional

2

2

1

Code identifying the reason the loan is needed

Codes (45)

10

1085

Loan Payment Type Code

Identifier (ID)

Optional

2

2

1

Code identifying the nature of loan payment

Codes (31)

11

1086

Loan Rate Type Code

Identifier (ID)

Optional

1

1

1

Code indicating the characteristics of the loan rate

Codes (7)