PRC Payment Rate Change
To identify interest rate or payment changes for adjustable rate mortgages
Position
Element
Name
Type
Requirement
Min
Max
Repeat
Code specifying type of date or time, or both date and time
Code indicating the date format, time format, or date and time format
Expression of a date, a time, or range of dates, times or dates and times
The interest rate as a percentage
R04050608: At least one of PRC-04, PRC-05, PRC-06 or PRC-08 is required
PRC04 identifies the index value.
The interest rate as a percentage
PRC05 identifies the new pass through rate.
The interest rate as a percentage
PRC06 identifies the new note rate.
Code specifying the amount qualifier
P0708: If either PRC-07 or PRC-08 is present, then the other is required
Monetary amount
Code indicating a Yes or No condition or response
PRC09 confirms that the loan has been converted to fixed rate. A "Y" indicates the loan has converted to fixed rate; an "N" indicates the loan has not converted to fixed rate.
Code specifying the type of quantity
P101112: If either PRC-10, PRC-11 or PRC-12 are present, then the others are required
Numeric value of quantity
PRC11 identifies the extended term.
Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken
Power to which a unit is raised
If C001-02 is not used, its value is to be interpreted as 1.
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.
Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken
Power to which a unit is raised
If C001-05 is not used, its value is to be interpreted as 1.
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.
Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken
Power to which a unit is raised
If C001-08 is not used, its value is to be interpreted as 1.
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.
Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken
Power to which a unit is raised
If C001-11 is not used, its value is to be interpreted as 1.
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.
Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken
Power to which a unit is raised
If C001-14 is not used, its value is to be interpreted as 1.
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.