EDI
API DocsTerminal

PRC Payment Rate Change

To identify interest rate or payment changes for adjustable rate mortgages

Sequence
Element
Name
Type
Requirement
Min
Max
Repeat
01
374
Date/Time Qualifier
Identifier (ID)
Mandatory
3
3
1
Code specifying type of date or time, or both date and time
Codes (1343)
02
Date Time Period Format Qualifier
Identifier (ID)
Mandatory
2
3
1
Code indicating the date format, time format, or date and time format
Codes (42)
03
Date Time Period
String (AN)
Mandatory
1
35
1
Expression of a date, a time, or range of dates, times or dates and times
04
Interest Rate
Decimal number (R)
Conditional
1
6
1
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.
05
Interest Rate
Decimal number (R)
Conditional
1
6
1
The interest rate as a percentage
PRC05 identifies the new pass through rate.
06
Interest Rate
Decimal number (R)
Conditional
1
6
1
The interest rate as a percentage
PRC06 identifies the new note rate.
07
Amount Qualifier Code
Identifier (ID)
Conditional
1
3
1
Code specifying the amount qualifier
P0708: If either PRC-07 or PRC-08 is present, then the other is required
Codes (1797)
08
Monetary Amount
Decimal number (R)
Conditional
1
18
1
Monetary amount
09
Yes/No Condition or Response Code
Identifier (ID)
Optional
1
1
1
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.
Codes (9)
10
Quantity Qualifier
Identifier (ID)
Conditional
2
2
1
Code specifying the type of quantity
P101112: If either PRC-10, PRC-11 or PRC-12 are present, then the others are required
Codes (1158)
11
Quantity
Decimal number (R)
Conditional
1
15
1
Numeric value of quantity
PRC11 identifies the extended term.
12
Composite Unit of Measure
Composite (composite)
Conditional
1
01
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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.

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Stedi is a registered trademark of Stedi, Inc. Stedi's EDI Reference and Mapping Guides are provided for marketing purposes and are 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.