MNC Mortgage Note Characteristics

To provide detailed characteristics information of a mortgage note

Sequence

Element

Name

Type

Requirement

Min

Max

Repeat

01

1136

Code Category

Identifier (ID)

Optional

2

2

1

Code specifying the situation or category to which the code applies

Codes (427)

02

1093

Real Estate Loan Type Code

Identifier (ID)

Optional

1

1

1

Code identifying the loan product category

Codes (18)

03

1101

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

Codes (7)

04

1085

Loan Payment Type Code

Identifier (ID)

Optional

2

2

1

Code identifying the nature of loan payment

Codes (31)

05

1086

Loan Rate Type Code

Identifier (ID)

Optional

1

1

1

Code indicating the characteristics of the loan rate

Codes (7)

06

594

Frequency Code

Identifier (ID)

Optional

1

1

1

Code indicating frequency or type of activities or actions being reported

Codes (23)

07

1626

Interest Rate Calculation Method Code

Identifier (ID)

Optional

1

1

1

Code identifying the type of method used to calculate the interest rate

Codes (3)

08

1470

Number

Numeric (N0)

Conditional

1

9

1

A generic number

MNC08 indicates the number of period days used in interest computation.

09

1470

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.

10

107

Payment Method Type Code

Identifier (ID)

Optional

1

2

1

Code identifying type of payment procedures

Codes (37)

11

1265

Interest Payment Code

Identifier (ID)

Optional

1

2

1

Code identifying the method of interest payment

Codes (7)

12

235

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

Codes (544)

13

234

Product/Service ID

String (AN)

Conditional

1

80

1

Identifying number for a product or service

14

750

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

Codes (289)

15

751

Product Description Code

String (AN)

Conditional

1

12

1

A code from an industry code list which provides specific data about a product characteristic

16

1074

Type of Real Estate Asset Code

Identifier (ID)

Optional

2

2

1

Code identifying the nature of a real estate

Codes (74)

17

1076

Real Estate Loan Security Instrument Code

Identifier (ID)

Optional

1

1

1

Code indicating type of security instrument

Codes (4)