MIR Mortgage Insurance Response

To determine if mortgage insurance has been approved or declined, and if approved, supply details about the coverage

Sequence

Element

Name

Type

Requirement

Min

Max

Repeat

01

1097

Mortgage Insurance Application Type Code

Identifier (ID)

Mandatory

1

1

1

Code identifying the type of Mortgage Insurance application

Codes (4)

02

1209

Underwriting Decision Code

Identifier (ID)

Mandatory

1

1

1

Code indicating the decision made by the underwriter

Codes (7)

03

1099

Mortgage Insurance Certificate Type Code

Identifier (ID)

Optional

1

1

1

Code indicating whether Mortgage Insurance certificate is for primary loan or pool loan or both

Codes (4)

04

127

Reference Identification

String (AN)

Optional

1

80

1

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

MIR04 defines the certificate of insurance number.

05

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%)

MIR05 defines the percentage of the premium of the initial term.

06

610

Amount

N2

Optional

1

15

1

Monetary amount

MIR06 defines the amount of the premium of the initial term.

07

C001

Composite Unit of Measure

Composite (composite)

Conditional

1

01

355

Unit or Basis for Measurement Code

Identifier (ID)

Mandatory

2

2

-

Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken

Codes (925)

02

1018

Exponent

Decimal number (R)

Optional

1

15

-

Power to which a unit is raised

If C001-02 is not used, its value is to be interpreted as 1.

03

649

Multiplier

Decimal number (R)

Optional

1

10

-

Value to be used as a multiplier to obtain a new value

If C001-03 is not used, its value is to be interpreted as 1.

04

355

Unit or Basis for Measurement Code

Identifier (ID)

Optional

2

2

-

Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken

Codes (925)

05

1018

Exponent

Decimal number (R)

Optional

1

15

-

Power to which a unit is raised

If C001-05 is not used, its value is to be interpreted as 1.

06

649

Multiplier

Decimal number (R)

Optional

1

10

-

Value to be used as a multiplier to obtain a new value

If C001-06 is not used, its value is to be interpreted as 1.

07

355

Unit or Basis for Measurement Code

Identifier (ID)

Optional

2

2

-

Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken

Codes (925)

08

1018

Exponent

Decimal number (R)

Optional

1

15

-

Power to which a unit is raised

If C001-08 is not used, its value is to be interpreted as 1.

09

649

Multiplier

Decimal number (R)

Optional

1

10

-

Value to be used as a multiplier to obtain a new value

If C001-09 is not used, its value is to be interpreted as 1.

10

355

Unit or Basis for Measurement Code

Identifier (ID)

Optional

2

2

-

Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken

Codes (925)

11

1018

Exponent

Decimal number (R)

Optional

1

15

-

Power to which a unit is raised

If C001-11 is not used, its value is to be interpreted as 1.

12

649

Multiplier

Decimal number (R)

Optional

1

10

-

Value to be used as a multiplier to obtain a new value

If C001-12 is not used, its value is to be interpreted as 1.

13

355

Unit or Basis for Measurement Code

Identifier (ID)

Optional

2

2

-

Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken

Codes (925)

14

1018

Exponent

Decimal number (R)

Optional

1

15

-

Power to which a unit is raised

If C001-14 is not used, its value is to be interpreted as 1.

15

649

Multiplier

Decimal number (R)

Optional

1

10

-

Value to be used as a multiplier to obtain a new value

If C001-15 is not used, its value is to be interpreted as 1.

08

380

Quantity

Decimal number (R)

Conditional

1

15

1

Numeric value of quantity

MIR08 defines the term of the mortgage insurance coverage as either a period of time or as a percentage of the loan outstanding when compared to the value of the property.

09

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%)

MIR09 defines the amount of mortgage insurance as a percentage.

10

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%)

MIR10 defines the loan-to-value (LTV) ratio at the time of loan origination. Loan-to-value ratio is the percentage of the loan outstanding when compared to the value of the property.

11

1102

Mortgage Insurance Renewal Option Code

Identifier (ID)

Optional

1

1

1

Code indicating the type of renewal option for Mortgage Insurance

Codes (3)

12

373

Date

Date (DT)

Optional

8

8

1

Date expressed as CCYYMMDD where CC represents the first two digits of the calendar year

MIR12 defines the expiration date of the proposed coverage.