Logical data dictionary

Version 1.1
Generated on 3/5/01
Copyright 2001 Mortgage Bankers Association of America, Inc.

Permission to use, copy, modify, and distribute the MISMO
DTD and its accompanying documentation for any purpose and without
fee is hereby granted in perpetuity, provided that the above copyright
notice and this paragraph appear in all copies. The copyright holders make
no representation about the suitability of the DTD for any purpose.

Processes included in this dictionary:

MI

 

Name

Description

Source

Context

Processes

Datatype

Appraisal Method Type

Method used by the appraiser to arrive at the appraised value.

Valuation

Appraisal

MI, Underwriting

Enumerated:

·        Automated Valuation Method:

·        Broker's Price Opinion:

·        Drive By:

·        Full Appraisal:

Appraisal Property Condition Type

Indicates status of property and conditions under which the appraiser estimated value.

Valuation

Appraisal

MI, Underwriting

Enumerated:

·        As Is:

·        Subject to Completion per Plans and Specifications:

·        Subject To Repairs Alterations Inspections Or Conditions:

Appraiser License Identifier

State license number of the appraiser who completed the final estimate of value for the subject property.

Valuation

Appraisal

MI, Underwriting

String

ARM Index Current Value Percent

The current value stated as a percent of the index used to calculate the initial interest rate for an adjustable rate mortgage. Could be the value of the index as of the closing date or if the loan has not closed the current index rate.

LP

Product

MI, Underwriting

Numeric(8,7)

ARM Index Margin Percent

The percentage stated in the loan program representing the spread between the ARM Index value and the mortgage interest rate. The gross mortgage margin is added to the index value to establish a new gross interest rate in the manner described by the calculation method.

Lender

Product

MI, Underwriting

Numeric(8,7)

ARM Index Type

Specifies the type of index to be used to determine the interest rate at each adjustment.

LP

Product

MI, Underwriting

Enumerated:

·        11th District Cost of Funds:

·        3 Year Treasury:

·        6-Month Treasury Bill:

·        Daily Certificate of Deposit Rate:

·        Fannie Mae 60-Day Required Net Yield:

·        Fannie Mae LIBOR:

·        Federal Cost of Funds:

·        Freddie Mac 60-Day Required Net Yield:

·        Freddie Mac LIBOR:

·        London Interbank Offered Rate:

·        Monthly Average Constant Maturing Treasury:

·        National Average Contract Rate (FHLBB):

·        National Monthly Median Cost of Funds:

·        Other:

·        Treasury Bill Daily Value:

·        Wall Street Journal LIBOR:

·        Weekly Average Certificate of Deposit Rate:

·        Weekly Average Constant Maturing Treasury:

·        Weekly Average Prime Rate:

·        Weekly Average Secondary Market Treasury Bill - Investment Yield:

·        Weekly Average Treasury Auction Average - Bond Discount Yield:

·        Weekly Treasury Auction Average - Investment Yield:

ARM Qualifying Rate Percent

The rate used to calculate the borrowers PITI to qualify the borrower for the subject mortgage for ARM loans.

Lender

Product

MI, Underwriting

Numeric(8,7)

Asset Cash or Market Value Amount

The dollar amount of the cash or market value of the borrowers Asset Type. The market value is the price at which an asset is transferred between a willing buyer and a willing seller, each of whom has a reasonable knowledge of all pertinent facts and neither being under any compulsion to buy or sell. (e.g., IBMs closing quote) Market value and cash values tend to be equal. Collected on the URLA in Section VI (Assets).

URLA

Asset

Credit Reporting, MI, Underwriting

Money

Asset Type

Specifies the general names (type) of items commonly listed as financial assets of the borrower(s) in a mortgage loan transaction. Assets may be either liquid or fixed and are associated with a corresponding asset amount. Collected on the URLA in Section VI (Assets).

URLA

Asset

Credit Reporting, MI, Underwriting

Enumerated:

·        Automobile: Car or similar personal transportation vehicle disclosed as borrowers asset. Usually linked to make or model and year. Typical valuation method is market (blue book). Collected on the URLA in Section VI (Assets).

·        Bond: An interest-bearing certificate of debt with maturity date. An obligation of issuing entity. Typical valuation is face value (e.g., $1,000 denomination) & market (e.g., value of 4% bond when yields are 6%). Collected on the URLA in Section VI (Assets - Stocks & Bonds).

·        Borrower Estimated Total Assets: The asset amount used by the lender to qualify the borrower for the loan.

·        Bridge Loan Not Deposited: Proceeds of a loan (secured by borrowers present house) to provide homebuyer with funds for down payment & closing costs on a new home before selling present house, which have not yet been deposited to borrowers accounts or included with other assets disclosed. Collected on the URLA in Section VI (Assets - Other Assets).

·        Cash On Hand: Currency physically possessed by borrower, not deposited in any financial institution. Considered liquid. Collected on the URLA in Section VI (Assets - Other Assets).

·        Certificate of Deposit / Time Deposit: Certificates issued by financial institutions with a stated term or interest rate, and with a set maturity date. The bank pays the holder in due course at maturity. Early withdrawal subject to penalty. Considered liquid. Collected on the URLA in Section VI (Assets).

·        Checking Account: Transaction account with a financial institution. Accounts purpose is to effect transfer of owners funds to others by various methods (e.g., check, EFT, ACH, draft). Technical name is demand deposit account (DDA). Considered liquid. Collected on the URLA in Section VI (Assets - Checking Account).

·        Earnest Money Cash Deposit Toward Purchase: Deposit made to bind the conditions of a real estate sale. Deposited in escrow account controlled by others, so funds cannot be included in disclosure in any other account. Collected on the URLA in Section VI (Assets - Cash Deposit).

·        Gifts Not Deposited: Money given as gift (no repayment expected) to Borrowers to assist in home purchase, usually from relatives or close friend, where gift funds have not yet been deposited or included with other assets. Collected on the URLA in Section VI (Assets - Other Assets).

·        Grants Not Deposited: Money scheduled to be given as grant (no repayment expected) to Borrowers to assist in home purchase, usually from local organization or charity, where grant funds have not yet been deposited to borrowers accounts or included with other assets. Collected on the URLA in Section VI (Assets - Other Assets).

·        Life Insurance: A life insurance policy with a value or investment component. Details of amounts for each policy collected on URLA in Section VI (Assets - Life Insurance Face Amount) or Accumulated investment cash value of life insurance policy, net of any loans against that amount. Detail of amounts for each policy collected on URLA in Section VI (Assets - Life Insurance Net Cash Value).

·        Money Market Fund: Mutual fund that allows individuals to participate in managed investments in short-term debt securities, such as certificates of deposit and Treasury bills. Considered liquid. Collected on the URLA in Section VI (Assets).

·        Mutual Fund : Financial entity that invests its shareholders funds in stocks and bonds of other entities with the objective of obtaining a return on its shareholders investment. Collected on the URLA in Section VI (Assets - Stocks & Bonds).

·        Net Worth of Business Owned: For a business owned by borrower, the amount resulting from the calculation Assets minus liabilities. Collected on the URLA in Section VI (Assets - Net Worth of Business).

·        Other Liquid Assets: General category to disclose detail of other borrower assets that have a ready market where a quick sale would yield the amount disclosed (e.g., commodity contract, certain currencies or coins). Typically has free text description. Collected on the URLA in Section VI (Assets - Other Assets).

·        Other Non-Liquid Assets: General category to disclose detail of other borrower assets that have little ready market (e.g., statues). Typically has FREE TEXT description. Collected on the URLA in Section VI (Assets - Other Assets).

·        Pending Net Sale Proceeds from Real Estate Assets: Estimated net cash proceeds (sales price - obligations) from anticipated sale of borrowers real estate assets.

·        Real Estate Owned: Market value of real estate owned by the borrower. Collected on the URLA in Section VI (Schedule of Real Estate Owned).

·        Retirement Funds - Total: Sum of all 401ks, IRAs, etc. controlled by borrower(vested) valued at market. Collected on the URLA in Section VI (Assets - Vested Retirement Fund).

·        Savings Account: Interest-paying account with a financial institution whose main purpose is to earn interest on owners funds held therein. This is NOT a demand deposit account. Considered liquid. Collected on the URLA in Section VI (Assets - Savings Account).

·        Secured Borrowed Funds Not Deposited: Proceeds from a loan secured by borrowers assets, which have not yet been deposited to borrowers accounts or included with other assets disclosed. Considered liquid. Collected on the URLA in Section VI (Assets - Other Assets).

·        Stock: Financial instrument evidencing an ownership interest in entity that issued the stock. Typical valuation method is Market. Collected on the URLA in Section VI (Assets - Stocks & Bonds).

·        Trust Account: Fiduciary relationship where legal title to a property is transferred to a trustee with the intention the property be administered by the trustee for benefit of the beneficiary, who holds equitable title to such property. Collected on the URLA in Section VI (Assets - Other Assets).

Base Loan Amount

The base loan amount to be loaned to the borrower not including PMI, MIP, or Funding Fee. Collected on the URLA in Section VII line m.

URLA

Application

Flood, MI, Underwriting

Money

Borrower Canadian Social Insurance Number

The Canadian Social Insurance Number associated with the borrower.

URLA

Borrower

MI, Underwriting

Numeric

Borrower Entity Type

Defines the borrower entity type.

MI Order

MI

MI

Enumerated:

·        Non-Person:

·        Person:

Borrower First Name

The first name of the borrower. Collected on the URLA in Section III (Borrowers Name).

URLA

Borrower

Service ordering, Credit Reporting, Flood, MI, Secondary, Underwriting

String

Borrower First Time Homebuyer Indicator

Indicates that the borrower qualifies as a first time homebuyer as determined by the lender. (Note: The 3 year rule used in the Declarations alone is not sufficient.)

Lender

Declarations

MI, Secondary, Underwriting

Boolean

Borrower Last Name

The last name of the borrower. Collected on the URLA in Section III (Borrowers Name).

URLA

Borrower

Service ordering, Credit Reporting, Flood, MI, Secondary, Underwriting

String

Borrower Middle Name

The middle name of the borrower. Collected on the URLA in Section III (Borrowers Name).

URLA

Borrower

Service ordering, Credit Reporting, MI, Underwriting

String

Borrower Name Suffix

The name suffix of the borrower. (E.g., JR = Junior, SR = Senior, etc.) Collected on the URLA in Section III (Borrowers Name).

URLA

Borrower

Service ordering, Credit Reporting, MI, Underwriting

String

Borrower Requested Loan Amount

The total dollar amount of the mortgage note being originated that is being requested by the borrower. Collected on the URLA in Section I (Amount) and in Section VII line o.

URLA

Application

MI, Underwriting

Money

Borrower Residency Type

This attribute, accompanying borrower residence data, qualifies it as either the current or prior borrowers residence.

URLA

Borrower

Service ordering, Credit Reporting, MI, Secondary, Underwriting

Enumerated:

·        Current: The borrowers current residence

·        Prior: The borrowers prior residence

Borrower USA Social Security Number

The Social Security Number (SSN) associated with the borrower. Collected on the URLA in Section III (Social Security Number).

URLA

Borrower

Service ordering, Credit Reporting, MI, Secondary, Underwriting

Numeric

Borrower USA Tax Payer Identification Number

The US Taxpayer Identification Number (TIN) associated with the borrower. The borrower may be either a person or a non-person entity.

URLA

Borrower

Service ordering, MI, Underwriting

Numeric

Buydown Contributor Type

Specifies the source of the buydown funds.

Lender

Product

MI, Underwriting

Enumerated:

·        Borrower:

·        Builder:

·        Employer:

·        Lender:

·        Non-parent Relative:

·        Parent:

·        Seller:

·        Unassigned:

·        Unrelated Friend:

Buydown Duration Months

The total number of months during which any buydown is in effect.

Lender

Product

MI, Underwriting

Numeric

Buydown Initial Adjustment Percent

The percentage by which the buydown rate adjusts at the initial payment adjustment.

Lender

Product

MI, Underwriting

Numeric(8,7)

Buydown Period To First Adjustment Months

The number of months from the first scheduled payment to first buydown adjustment.

Lender

Product

MI, Underwriting

Numeric

Buydown Period To Subsequent Adjustment Months

The number of months between the subsequent buydown payment adjustments.

Lender

Product

MI, Underwriting

Numeric

Buydown Rate Percent

The final bought down interest rate. The rate that the applicant will pay after the buydown is applied.

Lender

Product

MI, Underwriting

Numeric(8,7)

Buydown Subsequent Adjustment Percent

The percentage by which the buydown rate adjusts at subsequent payment adjustments after the initial adjustment.

Lender

Product

MI, Underwriting

Numeric(8,7)

Buydown Temporary Subsidy Indicator

Indicates whether there is a temporary buydown subsidy. A subsidy is money paid by the borrower or third party for the purpose of paying down the interest rate and reducing the monthly payments.

Lender

Product

MI, Underwriting

Boolean

Buydown Term Months

The total number of months over which the buydown occurs.

Lender

Product

MI, Underwriting

Numeric

Contact Name

The name of individual acting as a contact for a party to the loan.

Multiple

Individuals Name

Service ordering, Credit Reporting, Flood, MI, Secondary, Underwriting

String

Contact Point Preference Indicator

This indicator is set to be true when the particular contacts Contact Point (i.e. phone number) is preferred over any others.

Multiple

(not specified)

Service ordering, Credit Reporting, Flood, MI, Secondary, Underwriting

Boolean

Contact Point Role Type

This element sets the type of role (i.e. Home, Work or Mobile) used for the Contact Point Type (Phone, Fax, Email).

Multiple

(not specified)

Service ordering, Credit Reporting, Flood, MI, Secondary, Underwriting

Enumerated:

·        Home: The applicable Point Type applies to the contacts home.

·        Mobile: The applicable Point Type applies to the contacts mobile (phone/fax/email).

·        Work: The applicable Point Type applies to the contacts work.

Contact Point Type

This datum sets the Type (Phone, Fax, Email, Other) for the Contact Point Value of contact point used for the Contact Point Value.

Multiple

(not specified)

Service ordering, Credit Reporting, Flood, MI, Secondary, Underwriting

Enumerated:

·        Email: The Contact Point Value contains an email address.

·        Fax: The Contact Point Value contains a fax number.

·        Other: The Contact Point Value contains some other Contact Point Type.

·        Phone: The Contact Point Value contains a telephone number.

Contact Point Value

This is the actual value of the Contact Point Type.

Multiple

(not specified)

Service ordering, Credit Reporting, Flood, MI, Secondary, Underwriting

String

Credit Score Factor Identifier

Factors of the borrowers credit which give context to the referenced credit score. The factor is normally a numeric code. The Credit Score Factor Text contains the text for the factor code.

Credit Bureau

Credit

Credit Reporting, MI, Underwriting

String

Credit Score Model Name

Identifies the score algorithm model name used to produce the referenced credit risk score.

Credit Bureau

Credit

Credit Reporting, MI, Underwriting

Enumerated:

·        Equifax Beacon: Fair Isaac risk model forecasting delinquency within 24 months.

·        Equifax Beacon Auto: Fair Isaac risk model for auto finance loans.

·        Equifax Beacon Bankcard: Fair Isaac risk model for bank credit cards.

·        Equifax Beacon Installment: Fair Isaac risk model for installment loans.

·        Equifax Beacon Personal Finance: Fair Isaac risk model for personal finance loans.

·        Equifax DAS: Delinquency Alert System is a MDS risk model that forecasts risk of consumer filing bankruptcy.

·        Equifax Enhanced Beacon: An updated Fair Isaac risk model forecasting the risk of delinquency within 24 months.

·        Equifax Enhanced DAS: Enhanced Delinquency Alert System is a MDS risk model that forecasts risk of consumer filing bankruptcy.

·        Equifax MarketMax: Equifax predictive score for no-hit or thin files

·        Equifax Mortgage Score: A custom risk score model from Equifax specifically for assessing mortgage loan risk.

·        Equifax Pinnacle: Equifax risk score developed by Fair Isaac, that utilizes expanded segmentation to analyze degrees of delinquency history.

·        Experian Fair Isaac: Fair Isaac risk model forecasting risk of delinquency within 24 months.

·        Experian Fair Isaac Auto: Fair Isaac risk model for auto finance.

·        Experian Fair Isaac Bankcard: Fair Isaac risk model for bank credit cards.

·        Experian Fair Isaac Installment: Fair Isaac risk model for installment loans.

·        Experian Fair Isaac Personal Finance: Fair Isaac risk model for personal finance loans.

·        Experian MDS Bankruptcy II: MDS risk model that forecasts risk of consumer filing bankruptcy.

·        Experian New National Equivalency: Experian option for the National Risk Model that produces score ranges similar to Fair Isaac models.

·        Experian New National Risk: New version of Experians National Risk Model.

·        Experian Old National Risk: Original version of Experians National Risk Model.

·        Other: Used when Score Model Name is not in the enumerated list.

·        Trans Union Delphi: MDS risk model that forecasts risk of consumer filing bankruptcy.

·        Trans Union Empirica: Fair Isaac risk model forecasting risk of delinquency within 24 months.

·        Trans Union Empirica Auto: Fair Isaac risk model for auto finance loans.

·        Trans Union Empirica Bankcard: Fair Isaac risk model for bank credit cards.

·        Trans Union Empirica Installment: Fair Isaac risk model for installment loans.

·        Trans Union Empirica Personal Finance: Fair Isaac risk model for personal finance loans.

·        Trans Union New Delphi: Updated MDS risk model that forecasts risk of consumer filing bankruptcy.

Credit Score Value

Numeric credit score resulting from credit evaluation model.

Credit Bureau

Credit

Credit Reporting, MI, Secondary, Underwriting

Numeric

Down Payment Amount

The dollar amount of the borrowers Down Payment Type. Collected on the URLA in Section II (Source of Down Payment).

URLA

Application

MI, Underwriting

Money

Down Payment Option Type

Specifies the type of option used to facilitate the borrowers down payment.

MI Order

Application

MI, Underwriting

Enumerated:

·        3/2 Option:

·        5% Option:

Down Payment Type

Specifies the general names (type) of items commonly used for a down payment by the borrower(s) in a mortgage loan transaction. Collected on the URLA in Section II (Source of Down Payment).

URLA

Application

MI, Underwriting

Enumerated:

·        Bridge Loan:

·        Cash Borrowed, Unsecured Borrowed Funds:

·        Cash on Hand:

·        Cash-Gift, Gift Funds:

·        Checking/Savings:

·        Deposit on Sales Contract:

·        Equity on Pending Sale:

·        Equity on Sold Property:

·        Equity on Subject Property:

·        Life Insurance Cash Value:

·        Lot Equity:

·        Other Type of Down Payment:

·        Pledged Collateral:

·        Rent with Option to Purchase:

·        Retirement Funds:

·        Sale of Chattel:

·        Secured Borrowed Funds:

·        Stocks & Bonds:

·        Sweat Equity:

·        Trade Equity:

·        Trust Funds:

Employment Borrower Self-Employment Indicator

Indicates that in the referenced employment the borrower is self-employed. Collected on the URLA in Section IV (Self Employed Check Box).

URLA

Employment

Credit Reporting, MI, Secondary, Underwriting

Boolean

Estimated Conventional Closing Costs Amount

The dollar amount of the estimated loan fees, title fees, appraisal fees and other closing costs associated with the subject transaction excluding discount points. Collected on the URLA in Section VII line f.

URLA

Application

MI, Underwriting

Money

First Payment Adjustment Months

The number of the month in which the first payment adjustment occurs. If the subject mortgage can change by means other than a rate adjustment.

Lender

Product

MI, Underwriting

Numeric

First Rate Adjustment Months

The number of the month in which the first payment rate occurs. If the interest rate on the subject loan can change.

Lender

Product

MI, Underwriting

Numeric

Gender Type

The borrowers or interviewers statement about the borrowers gender. Collected on the URLA in Section X (Sex).

URLA

Declarations

MI, Underwriting

Enumerated:

·        Female:

·        Information not provided - Unknown: Information was not provided by borrower in a mail or telephone application and interviewer was unable to determine.

·        Male:

·        Not Applicable: Borrower is an entity not an individual (e.g., corporation)

Housing Expense Payment Amount

The dollar amount per month of the borrowers housing expense type. May be used for their primary or non-primary residence or for the subject property. Collected on the URLA in Section VI (Schedule of Real Estate Owned.)

URLA

Expense

MI, Secondary, Underwriting

Money

Housing Expense Residence Type

Specifies the type of residence associated with the housing expense type.

URLA

Expense

MI, Secondary, Underwriting

Enumerated:

·        Borrower Non-Primary Residence Present Housing: The amount per month of the borrowers present housing expense type for their non-primary residence. Collected on the URLA in Section VI (Schedule of Real Estate Owned.)

·        Borrower Primary Residence Present Housing: The amount per month of the borrowers present housing Expense Type for their primary residence. Collected on the URLA in Section V (Monthly Housing Expense - Present).

·        Subject Property Proposed: The amount per month of the proposed housing Expense Type for the subject property.

Income Amount

The dollar amount per month of the borrowers Income Type (e.g., job base salary).

URLA

Income

Credit Reporting, MI, Secondary, Underwriting

Money

Income Time Type

Describes the time frame for the associated income type.

(not specified)

Income

Credit Reporting, MI, Secondary, Underwriting

Enumerated:

·        Current: The amount per month of the borrowers current (vs. priorr or future) Income Type.

·        Prior: The amount per month of the borrowers previous (vs. current or future) Income Type.

Income Type

Specifies the general names (types) of items commonly listed as income of the borrower in a mortgage loan transaction. Collected on the URLA in Section V (Gross Monthly Income)and Section VI (Schedule of Real Estate Owned).

URLA

Income

Credit Reporting, MI, Secondary, Underwriting

Enumerated:

·        Alimony: Periodic amount paid under terms of divorce decree/agreement. Income if borrower receives. Collected on the URLA in Section V (Monthly Income - Other).

·        Base Income: For salaried positions, the monthly amount of salary (annual salary/12). For hourly positions, the income that would arise from 52 weeks of work at the usual and customary number of non-overtime hours per week / 12. Collected on the URLA in Section V (Monthly Income - Base).

·        Bonus Income: Income derived from optional compensation paid out by employer, linked to employers overall performance and/or individual performance. Collected on the URLA in Section V (Monthly Income - Bonuses).

·        Borrower Estimated Total Monthly Income: The borrower monthly income amount used by the lender to qualify the borrower for the loan.

·        Child Support: Periodic amount paid to provide for children after divorce or separation. Income if borrower receives. Collected on the URLA in Section V (Monthly Income - Other).

·        Commissions: borrower income that is based upon a percentage of the goods or services the borrower sells (e.g., gross Realtor commission = 6%) Collected on the URLA in Section V (Monthly Income - Commissions).

·        Dividends / Interest: Funds paid to owners of stocks or bonds by issuer of stock or bond. Collected on the URLA in Section V (Monthly Income - Dividends / Interest).

·        Other Types of Income: Used in conjunction with a textual description of other types of income. Collected on the URLA in Section V (Monthly Income - Other).

·        Overtime: Additional hourly compensation paid for work beyond the usual and customary work period. Collected on the URLA in Section V (Monthly Income - Overtime).

·        Pension: Periodic amount paid by employer to persons who have retired from employer after attaining necessary term of service and other attributes. Collected on the URLA in Section V (Monthly Income).

·        Proposed Gross Rent for Subject Property: The anticipated rent on the subject property if it is an investment property or if a 2-4 property where other units are rented.

·        Public Assistance Income: Amount paid to borrower by state or local public assistance program. Collected on the URLA in Section V (Monthly Income).

·        Real Estate Owned - Gross Rental Income : Periodic gross rents (before expenses) arising from a piece of real estate owned (or to be owned) by borrower. Collected on the URLA in Section VI (Schedule of Real Estate - Gross Rental Income).

·        Social Security: In the US, monthly amount paid to recipients of OASI (Old Age and Survivors Insurance) commonly known as Social Security. Collected on the URLA in Section V (Monthly Income).

·        Unemployment Compensation: Amount paid or payable to borrower from state or Federal unemployment insurance program.

·        VA Benefits (Non-educational): Dollar amount of VA Benefits excluding education benefits available to a veteran borrower. Collected on the URLA in Section V (Monthly Income).

·        Workers Compensation: Amount paid or payable to borrower from Workmers Compensation Insurance program, usually for injuries that prevent borrower from working. Collected on the URLA in Section V (Monthly Income).

Initial Interest Rate Percent

The initial rate at which interest will accrue on the loan.

(not specified)

(not specified)

MI

Numeric(8,7)

Initial Payment Rate Percent

The effective payment rate at which the borrower is making payments such as the effective first annual payment rate on a temporarily bought down loan.

Lender

Product

MI, Underwriting

Numeric(8,7)

Intent To Occupy Indicator

Borrowers answer to the question: Do you intend to occupy the property as your primary residence? Collected on the URLA in Section VIII line l.

URLA

Declarations

MI, Underwriting

Boolean

Key Name

A generic placeholder to add key descriptions in transactions.

(not specified)

Service Order

Service ordering, Credit Reporting, MI

String

Key Value

A generic placeholder for a value to be associated with a key description for a transaction exchange.

(not specified)

Service Order

Service ordering, Credit Reporting, MI

String

Lender Case Identifier

Number used by the Lender to identify a loan. Collected on the URLA in Section I (Lender Case Number).

URLA

Application

Credit Reporting, Flood, MI, Underwriting

String

Lenders Branch Identifier

The lenders identification code for the branch number associated with the loan.

Lender

Parties To Transaction

Flood, MI, Underwriting

String

Lenders Contact Fax Number

The fax number of the lenders contact.

Lender

Parties To Transaction

Credit Reporting, Flood, MI, Underwriting

String

Lenders Contact Primary Telephone Number

The primary telephone number of the lenders contact.

Lender

Parties To Transaction

Credit Reporting, Flood, MI, Underwriting

String

Liability Monthly Payment Amount

The dollar amount of the monthly payment required on borrowers Liability Type. Collected on the URLA in Section VI (Liabilities - Monthly Payment).

URLA

Liability

Credit Reporting, MI, Underwriting

Money

Liability Type

Specifies the general names (types) of items commonly listed as liabilities of the borrower in a mortgage loan transaction. Collected on the URLA in Section VI (Liabilities).

URLA

Liability

Credit Reporting, MI, Underwriting

Enumerated:

·        Alimony: Periodic amount paid under terms of divorce decree/agreement. Collected on the URLA in Section VI (Liabilities).

·        Borrower Estimated Total Monthly Liability Payment: The borrower monthly liability amount used by the lender to qualify the borrower for the loan.

·        Child Care: Periodic costs of providing care for having the borrowers dependents. Collected on the URLA in Section VI (Liabilities - Job Related Expenses.)

·        Child Support: Periodic amount paid to provide for children after divorce or separation. Collected on the URLA in Section VI (Liabilities - Alimony).

·        Collections, Judgments, and Liens: Lien upon the property of a debtor resulting from a decree of the court.

·        Delinquent Taxes: Amount of local, state or federal taxes that are past due and not paid

·        Federal Tax: Amount of tax payable to the US Government.

·        Garnishments: A notice to an employer or other asset holder that monies, wages, or property of a debtor must be applied to a specific debt or creditor.

·        Home Equity Line of Credit (HELOC) REO Property: A mortgage loan, which is usually in a subordinate position, that allows the borrower to obtain multiple advances of the loan proceeds at his or her own discretion, up to an amount that represents a specified percentage of the borrowers equity in a REO property. Collected on the URLA in Section VI (Liabilities).

·        Home Equity Line of Credit (HELOC) Subject Property: A mortgage loan, which is usually in a subordinate position, that allows the borrower to obtain multiple advances of the loan proceeds at his or her own discretion, up to an amount that represents a specified percentage of the borrowers equity in the subject property. Collected on the URLA in Section VI (Liabilities).

·        Installment: Borrowed money repaid in several successive payments, usually at regular intervals, for a specific amount & a specified term. Collected on the URLA in Section VI (Liabilities).

·        Job Related Expenses: Ongoing obligations incurred by the borrower which are prerequisite to retaining employment (e.g., professional associations, special uniforms or tools, etc.) Collected on the URLA in Section VI (Liabilities - Job Related Expenses)

·        Lease Payments: Collected on the URLA in Section VI (Liabilities).

·        Local Tax: Tax levied on borrowers income by a local entity (e.g., city, county, but not state or US Government.)

·        Mortgage Loan on Real Estate Owned: A closed ended lien secured against an REO property that may be in a first or subordinate lien position. Collected on the URLA in Section VI (Liabilities).

·        Mortgage Loan on Subject Property: A closed ended lien secured against the subject property that may be in a first or subordinate lien position. Collected on the URLA in Section VI (Liabilities)

·        Open / 30 Day Charge Account: Collected on the URLA in Section VI (Liabilities).

·        Other Liability: Used in conjunction with a textual description of other types of liabilities.

·        Revolving: Open lines of credit, which are subject to variable payments in accordance with the balance. Credit cards are examples of revolving credit. Collected on the URLA in Section VI (Liabilities).

·        Separate Maintenance Expense: Periodic amount paid under terms of separation agreement. Collected on the URLA in Section VI (Liabilities - Alimony.)

·        Social Security Tax: The amount of FICA withheld from or owed on income earned by a borrower. Used for VA loans.

·        State Tax: Tax levied on borrowers income by a state (e.g., state of New York, but not city, county, or US Government.)

·        Union Dues: Union membership dues borrower incurs as a condition of remaining employment through union (e.g., a closed shop). Collected on the URLA in Section VI (Liabilities - Job Related Expenses.)

·        Unsecured Home Improvement Loan - Installment:

·        Unsecured Home Improvement Loan - Revolving:

Lien Priority Type

Specifies the lien priority of the subject loan on the subject property.

Lender

UW Case

Flood, MI, Secondary, Underwriting

Enumerated:

·        First Lien: A mortgage that gives the mortgagee a security right over all other mortgages of the mortgaged property.

·        Fourth Lien:

·        Other:

·        Second Lien:

·        Third Lien:

Loan Actual Closing Date

The actual closing date of the loan.

Note

MI

MI

Date/Time

Loan Amortization Term Months

The number of months used to compute the fully amortized payment.

URLA

Product

MI, Secondary, Underwriting

Numeric

Loan Amortization Type

Specifies the type of payment stream. Collected on the URLA in Section I (Amortization Type).

URLA

Product

MI, Secondary, Underwriting

Enumerated:

·        Adjustable Rate: A mortgage that allows the lender to adjust the interest rate in accordance with a specified index periodically.

·        Fixed: A mortgage in which the interest rate and payments remain the same for the life of the loan.

·        Graduated Payment Mortgage (GPM): A type of flexible payment mortgage where the payments increase for a specified period of time and then level off. Usually involves negative amortization.

·        Growing Equity Mortgage: A graduated payment mortgage in which increases in a borrower’s mortgage payments are used to accelerate reduction of principal on the mortgage. Due to increased payment, the borrower acquires equity more rapidly and retires the debt earlier.

·        Other Amortization Type: Used to describe the amortization type if it is other than those specified on the URLA.

·        Start Up:

Loan Original Maturity Term Months

The scheduled number of months after which a debt will mature if not equal to the Amortization Term.

Lender

Product

MI, Secondary, Underwriting

Numeric

Loan Purpose Type

Specifies the purpose for which the loan proceeds will be used. Collected on the URLA in Section II (Purpose of Loan).

URLA

Application

Flood, MI, Secondary, Underwriting

Enumerated:

·        Construction Only: A short term, interim loan for financing the cost of construction. The lender advances funds to the builder at periodic intervals as work progresses.

·        Construction to Permanent: The subject loan will be used for construction financing and then be converted to permanent financing.

·        Other:

·        Purchase: Undivided, undifferentiated real estate ownership rights in the property under applicable state law are vested in only one person.

·        Refinance: The repayment of a debt from proceeds of a new loan using the same property as security.

Loan Scheduled Closing Date

The scheduled date for when the loan will be closed with the borrower.

Lender

UW Case

MI, Secondary, Underwriting

Date/Time

Mortgage Insurance And Funding Fee Financed Amount

The dollar amount of private mortgage insurance premium, FHA up-front MI Premium or VA funding fee that is rolled into loan amount. Used if PMI / MIP / VA funding fee will be added to loan amount. Collected on the URLA in Section VII line n.

URLA

Application

MI, Underwriting

Money

Mortgage Insurance Application Type

Specifies the way the lender directs the mortgage insurer to handle the processing of the loan.

MI Order

MI

MI, Underwriting

Enumerated:

·        Delegated:

·        Prequalification:

·        Standard Application:

Mortgage Insurance Billing Frequency Months

Number of months between MI billings for given premium plan (e.g., monthly = 1, annual = 12, etc.)

MI Order

MI

MI

Numeric

Mortgage Insurance Captive Reinsurance Indicator

To convey that a captive reinsurance agreement applies to the loan.

MI Order

MI

MI

Boolean

Mortgage Insurance Cash Out Type

When the loan is a refinance this describes the distribution of funds.

MI Order

MI

MI

Enumerated:

·        Cash Out:

·        Limited Cash Out:

Mortgage Insurance Cash Out Usage Description

To describe the use of cash out refinance funds.

MI Order

MI

MI

Enumerated:

·        Debt Consolidation:

·        Education:

·        Home Improvement:

·        Medical:

Mortgage Insurance Certificate Identifier

The number assigned by a mortgage insurer to track a loan.

MI Order

Loan ID

MI, Underwriting

String

Mortgage Insurance Certificate Type

Specifies the type of mortgage insurance certificate required by the customer.

MI Order

MI

MI, Secondary, Underwriting

Enumerated:

·        Both Primary and Pool:

·        No Coverage:

·        Pool:

·        Primary:

Mortgage Insurance Company Name

The name of the entity that will provide mortgage insurance for a loan.

MI Order

MI

MI, Secondary, Underwriting

Enumerated:

·        CMG Mortgage Insurance Company (affiliate of PMI) CMG:

·        GE Capital Mortgage Insurance Corporation, GE:

·        MGIC Indemnity Corporation, MGICIC:

·        Mortgage Guaranty Insurance Corporation, MGIC:

·        PMI Mortgage Insurance Corporation, PMI:

·        Radian (formerly CMAC):

·        Republic Mortgage Insurance Company, RMIC:

·        Triad Guaranty Insurance Corporation, TGIC:

·        United Guaranty Corporation, UGC:

Mortgage Insurance County Premium Tax Amount

Dollar amount of separate borrower-paid premium tax levied at county level.

MI Order

MI

MI

Money

Mortgage Insurance County Premium Tax Rate

County-level separate premium tax based on MI premium amount.

MI Order

MI

MI, Application

Numeric

Mortgage Insurance Coverage Percent

The percentage of the loan amount to be insured.

Lender

MI

MI, Secondary, Underwriting

Numeric(8,7)

Mortgage Insurance Coverage Plan Type

Specifies the coverage type of private mortgage insurance coverage selected.

MI Order

MI

MI, Underwriting

Enumerated:

·        Pool:

·        Risk Sharing:

·        Second Layer:

·        Standard Primary:

Mortgage Insurance Credit Score

Used when a lender wants to send only one credit score per loan and the mortgage insurer does not want to associate the score with an individual borrower.

MI Order

MI

MI

String

Mortgage Insurance Decision

To convey the mortgage insurers decision regarding the application for mortgage insurance.

MI Order

MI

MI

Enumerated:

·        Approved:

·        Conditioned Approval: Approved subject to conditions.

·        Declined:

·        Suspended:

Mortgage Insurance Desktop Underwriter Decision

The result of a Desktop Underwriter decision.

MI Order

MI

MI

Enumerated:

·        Approve Eligible:

·        Approve Ineligible:

·        Refer Eligible:

·        Refer Ineligible:

·        Refer Out of Scope:

·        Refer With Caution:

Mortgage Insurance Duration Type

Specifies the duration of coverage provided by the private mortgage insurance payment.

MI Order

MI

MI, Application, Underwriting

Enumerated:

·        Annual:

·        Not Applicable:

·        Periodic (Monthly):

·        Single Life of Loan:

·        Specific Term Single:

Mortgage Insurance Employee Loan Indicator

Indicates if the loan is part of an employee loan program.

MI Order

MI

MI

Enumerated:

·        Employee:

Mortgage Insurance First Mortgage Being Refinanced Amount

When the loan is a refinance this is the amount of the first mortgage being refinanced.

MI Order

MI

MI

Money

Mortgage Insurance Initial Premium Amount

Amount of the first premium paid to MI. For monthly plans, one months premium; for all other plans, Initial Premium Rate times Base Loan Amount.

MI Order

MI

MI

Money

Mortgage Insurance Initial Premium Prepaid At Closing Type

Specifies whether the initial Mortgage Insurance premium is prepaid upon closing or deferred until first principle payment.

MI Order

MI

MI, Underwriting

Enumerated:

·        Deferred:

·        Prepaid:

Mortgage Insurance Initial Premium Rate

Premium rate used to compute first MI premium amount. For monthlies, annualized rate. For all other plans, rate to be applied to base loan amount.

MI Order

MI

MI, Application

Numeric

Mortgage Insurance Initial Premium Rate Duration Months

Indicates the number of months for which the MI Initial Premium Rate applies.

MI Order

MI

MI, Application

Numeric

Mortgage Insurance Lender Entity Identifier

The unique number assigned by the private mortgage insurer identifying the lender entity.

MI Order

MI

MI

String

Mortgage Insurance Lender Special Program Type

To convey information describing a certain class of lender loans. Not to be confused with Mortgage Insurance Special Pricing Type.

MI Order

MI

MI

String

Mortgage Insurance Loan Prospector Eligibility Type

The loan eligibility classification of a Loan Prospector decision.

MI Order

MI

MI

Enumerated:

·        Eligible:

·        Incomplete:

·        Ineligible:

Mortgage Insurance Loan Prospector Risk Type

The risk classification of a Loan Prospector decision.

MI Order

MI

MI

Enumerated:

·        Accept:

·        Accept Plus:

·        Caution:

·        Caution A Minus Eligible:

Mortgage Insurance Municipal Premium Tax Amount

Dollar amount of separate borrower-paid premium tax levied at municipality level.

MI Order

MI

MI

Money

Mortgage Insurance Municipal Premium Tax Rate

Municipality-level separate premium tax based on MI premium amount.

MI Order

MI

MI, Application

Numeric

Mortgage Insurance Premium Financed Indicator

Indicates whether mortgage insurance premium has been added to loan amount.

MI Order

MI

MI, Application, Underwriting

Boolean

Mortgage Insurance Premium From Closing Amount

Amount of MI premium due from closing. Zero for deferred monthly; otherwise is a months, years or life premium for regular monthly, annual, or life of loan premium plans.

MI Order

MI

MI

Money

Mortgage Insurance Premium Payment Type

Specifies the source of the mortgage insurance payment.

MI Order

MI

MI, Application, Underwriting

Enumerated:

·        Borrower Paid:

·        Both Borrower and Lender Paid:

·        Lender Paid:

Mortgage Insurance Premium Rate Plan Type

Specifies pattern of Mortgage Insurance premium rates charged over the life of the coverage.

MI Order

MI

MI, Underwriting

Enumerated:

·        Back Loaded:

·        Level: First premium is at same rate as subsequent renewals.

·        Modified Front Loaded: MI premium collected from borrower.

·        Standard Front Loaded: First premium is at a higher rate than subsequent renewals.

Mortgage Insurance Premium Refundable Type

Specifies how the private mortgage insurance premiums will be treated if the private mortgage insurance coverage is canceled.

MI Order

MI

MI, Application, Underwriting

Enumerated:

·        Not Refundable:

·        Refundable:

·        Refundable with limits:

Mortgage Insurance Premium Term Months

The number of months of mortgage insurance coverage pre-paid by the initial premium.

MI Order

MI

MI, Application, Underwriting

Numeric

Mortgage Insurance Primary Borrower Type

To identify the primary borrower to the private mortgage insurance company.

MI Order

MI

MI

Boolean

Mortgage Insurance Private Automated Underwriting Name

The name of the private automated underwriting evaluation system used for the loan.

MI Order

MI

MI

String

Mortgage Insurance Private Automated Underwriting Result

The result of the private automated underwriting evaluation system.

MI Order

MI

MI

String

Mortgage Insurance Qualifying Asset Amount

The total borrower assets per lender guidelines.

MI Order

MI

MI

Money

Mortgage Insurance Qualifying Income Amount

The total monthly borrower income per lender guidelines.

MI Order

MI

MI

Money

Mortgage Insurance Qualifying Liability Payment Amount

The total monthly borrower payments per lender guidelines.

MI Order

MI

MI

Money

Mortgage Insurance Reduced Loan Documentation Type

To convey the type of reduced loan documentation.

MI Order

MI

MI

Enumerated:

·        No Income No Asset: No income is stated on loan application, no income is verified, no ratios are calculated, no assets are stated or verified.

·        No Income No Ratio: No income is given on loan application, no income is verified, no ratios are calculated but assets sufficient for closing and reserves are verified.

·        Stated Income With IRS Form 4506: Income shown on 1003 used to qualify AND borrowers have signed IRS form 4506 authorizing lender to get certain income tax data from IRS.

·        Stated Income Without IRS Form 4506: Income shown on 1003 used to qualify BUT borrower has NOT signed IRS form 4506; lender is NOT authorized to get income tax data from IRS.

Mortgage Insurance Refinance Type

The reason for the refinance.

MI Order

MI

MI

Enumerated:

·        Equity Takeout:

·        Increase Term:

·        Rate and Term:

·        Reduce Rate:

·        Reduce Term:

Mortgage Insurance Relocation Loan Indicator

Indicates if the loan is part of a corporate relocation program.

MI Order

MI

MI

Enumerated:

·        Relocation:

Mortgage Insurance Renewal Calculation Type

Specifies the way in which the renewal premiums will be calculated.

MI Order

MI

MI, Application, Underwriting

Enumerated:

·        Constant:

·        Declining:

·        No Renewals:

·        Not Applicable:

Mortgage Insurance Renewal Premium Rate

MI renewal premium rate applied on the basis described in MI Response for the timeframe indicated in MI Renewals.

MI Order

MI

MI, Application

Numeric

Mortgage Insurance Renewal Premium Rate Duration Months

The number of months for which a given occurrence of a MI renewal premium rate applies.

MI Order

MI

MI, Application

Numeric

Mortgage Insurance Renewals Sequence

Relates the sequence in which sets of MI renewal rates and timeframes occur to accurately describe MI renewals.

MI Order

MI

MI, Application

Enumerated:

·        Fifth: Fifth set of MI renewal premium data.

·        First: First set of MI renewal premium data.

·        Fourth: Fourth set of MI renewal premium data.

·        Second: Second set of MI renewal premium data.

·        Third: Third set of MI renewal premium data.

Mortgage Insurance Request Type

To distinguish an original request application for private mortgage insurance from any subsequent requests for the same loan, and from the MIs response to the order.

MI Order

MI

MI

Enumerated:

·        Original Request: An original request application for private mortgage insurance.

·        Response: Renewal rate will not change during life of loan.

·        Resubmission: Any subsequent request application for private mortgage insurance after the first.

Mortgage Insurance Special Pricing Type

To convey information about a special pricing option or special deal number associated with a certain class of lender loans.

MI Order

MI

MI

String

Mortgage Insurance State Premium Tax Amount

Dollar amount of separate borrower-paid premium tax levied at state level.

MI Order

MI

MI

Money

Mortgage Insurance State Premium Tax Rate

State-level separate premium tax based on MI premium amount.

MI Order

MI

MI, Application

Numeric

Mortgage Insurance Sub Prime Program Type

To convey the loan is processed as sub prime.

MI Order

MI

MI

Enumerated:

·        Aminus:

Mortgage Insurance Transaction Reference Identifier

A unique tracking identifier assigned by the sender which is typically returned to the sender in the resulting response.

MI Order

MI

MI

String(30)

Mortgage Type

Specifies the type of mortgage being applied for or that has been granted.

URLA

Product

MI, Underwriting

Enumerated:

·        Farmers Home Administration: A government agency which provides financing to farmers and other qualified borrowers who are unable to obtain loans elsewhere.

·        FHA: A federal agency within HUD that provides mortgage insurance for residential mortgages and sets standards for construction and underwriting.

·        Local Agency:

·        Other:

·        State Agency:

·        VA: VA Home Loan Guaranty Program encourages mortgage lenders to offer long-term, low down payment financing to eligible veterans by partially guaranteeing the lender against loss upon foreclosure.

Negative Amortization Type

Specifies whether negative amortization is possible for the loan and if so if it is scheduled or potential. Negative amortization is unpaid interest added to the mortgage principal. This applies to loans where the principal balance increases because the payments do not cover the interest.

Lender

Product

MI, Secondary, Underwriting

Enumerated:

·        No Negative Amortization:

·        Potential Negative Amortization:

·        Scheduled Negative Amortization:

Other Amortization Type Description

A free-form text field used to collect additional information or a description of the amortization type when Other is selected.

URLA

Product

MI, Underwriting

String

Other Loan Purpose Description

A free-form text field used to capture the purpose of the loan when Other is indicated for Loan Purpose. Collected on the URLA in Section II (Purpose of Loan - Other Explain).

URLA

Application

MI, Underwriting

String

Party Name

The unstructured name of the individual or institution is referenced by the Party Type.

URLA

Party

Service ordering, Credit Reporting, Flood, MI, Secondary, Underwriting

String

Party Type

Specifies the party to the transaction. The following information may be associated with each party: Name, Address (parsed and unparsed), and Contact Detail.

(not specified)

Party

Service ordering, Credit Reporting, Flood, MI, Secondary, Underwriting

Enumerated:

·        Appraiser: The appraiser who completed the final estimate of value for the subject property.

·        Asset Holder: The individual or institution holding the borrowers asset.

·        Broker Contact: A person who is designated as the brokers contact.

·        Credit Bureau: The credit reporting agency used for the original credit report ordered by the loan originator.

·        Credit Trade Reference: The party referenced in a credit report. Could be a creditor, inquiring party, court, attorney or plaintiff.

·        Employer: The borrowers employer.

·        Fulfillment Party: The ultimate party processing the service request if it differs from the receiving party. Often used when a service provider uses local vendors to fulfill services.

·        Interviewer: The person who took the loan application. Collected on the URLA in Section X (Interviewers Name).

·        Interviewers Employer: The individual or institution that employs the interviewer. Collected on the URLA in Section X (Name and Address of Interviewers Employer).

·        Lender: Person or entity that invests in or originates mortgage loans.

·        Lenders Authorized Representative: The person designated as the authorized representative employed by the lender.

·        Lenders Branch: Identifies the name or location of the lenders branch office.

·        Lenders Contact : The person employed by the lender that an individual could call with questions regarding the mortgage loan.

·        Lenders Information Contact: The person designated as the information contact employed by the lender.

·        Lenders Notification Contact: The person designated as the notification contact employed by the lender.

·        Lenders Underwriter: The person is the underwriter of the loan that is employed by the lender

·        Liability Holder: The individual or institution holding the borrowers liability.

·        Owning Bureau: The credit bureau that owns or manages the credit file being referenced.

·        Receiving Party: The business, person, or system that will receive the request group for further processing. The send to: addressee.

·        Requesting Party: The ultimate customer of a service or other request. Usually the person associated with the business that is ultimately billed for the transaction. The contact under this party is the person requesting the service or product.

·        Respond To Party: The person or organization that wants to receive copies of responses to the request.

·        Response From Party: The person or organization that prepared the response to the request.

·        Submitting Party: The individual or organization that is placing the request group on behalf of the requesting party.

Payment Adjustment Type

Specifies whether the payment adjustment is conditinoal or scheduled. Used for Adjustable Rate, GPM, GEM or Start Up mortgages.

Lender

Product

MI, Underwriting

Enumerated:

·        Conditional:

·        Scheduled:

Payment Adjustment Amount

The dollar amount to be added to the current payment. If the subject mortgage can change by means other than a rate adjustment.

Lender

Product

MI, Underwriting

Money

Payment Adjustment Calculation Type

Indicates the method for calculating the new payment at each change. If the subject mortgage can change by means other than a rate adjustment.

Lender

Product

MI, Underwriting

Enumerated:

·        Add Fixed Dollar Amount to the Current Payment:

·        Add Percent to Current Payment Amount:

·        Add Percent to Effective Payment Rate:

Payment Adjustment Lifetime Cap Amount

The maximum dollar amount (cap) of the payment increase allowed during the life of the loan, if the subject mortgage can change by means other than a rate adjustment.

Lender

Product

MI, Underwriting

Money

Payment Adjustment Lifetime Cap Percent

The maximum percentage (cap) on the payment increase allowed during the life of the loan, if the subject mortgage can change by means other than a rate adjustment.(Expressed as percentage of the payment amount.)

Lender

Product

MI, Underwriting

Numeric(8,7)

Payment Adjustment Percent

The percentage to be added to the current payment. If the subject mortgage can change by means other than a rate adjustment.

Lender

Product

MI, Underwriting

Numeric(8,7)

Payment Adjustment Periodic Cap Amount

The maximum dollar amount (cap) of the payment increase allowed at each change period within the allowed duration. If the subject mortgage can change by means other than a rate adjustment.

Lender

Product

MI, Underwriting

Money

Payment Adjustment Periodic Cap Percent

The maximum percentage (cap) on the payment increase allowed at each change period within the allowed duration. If the subject mortgage can change by means other than a rate adjustment. (Expressed as a percentage of the payment amount.)

LP

Product

MI, Underwriting

Numeric(8,7)

Payment Frequency Type

Specifies the frequency of the mortgage payment.

Lender

Product

MI, Secondary, Underwriting

Enumerated:

·        Bi-weekly:

·        Monthly:

Planned Unit Development Indicator

Indicates whether project in which the subject property is located is a Planned Unit Development (PUD).

Valuation

Project

MI, Underwriting

Boolean

Principal and Interest Payment

The principal and interest monthly payment amount for the loan.

URLA

Loan

MI, Secondary

Money

Product Name

A unique identifier of the type of loan product.

Lender

Product

MI, Secondary, Underwriting

String

Project Name

The name of the project in which subject property is located. (E.g. the name of the condominium or cooperative)

Valuation

Project

MI, Underwriting

String

Property Address 1

The unstructured (Unparsed) street address of the property (e.g., 123 Main Street).

URLA

Subject Property

Service ordering, Credit Reporting, Flood, MI, Secondary, Underwriting

String

Property Address 2

The unit number (if any) of the address of the property.

URLA

Subject Property

Service ordering, Credit Reporting, MI, Secondary, Underwriting

String

Property Appraised Value Amount

Statement of propertys value from a valid property valuation source

Valuation

Subject Property

MI, Secondary, Underwriting

Money

Property Category Type

Specifies the type of dwelling or structure for the property.

Valuation

Subject Property

MI, Secondary, Underwriting

Enumerated:

·        Attached: Residential dwelling unit that has common wall or other direct physical connection with another residential dwelling unit.

·        Church: Describes a structure used on a regular basis as a place of worship, and/or structure specifically designed for the purpose of conducting worship.

·        Commercial Non-residential: General category for classifying real estate designed and/or used as location to conduct commercial activities, with no design provisions for intend use as borrowers place of residence.

·        Commercial Residential: General category for classifying real estate where some part of the property is designed and/or used as location to conduct commercial activities, and other parts intend for use as borrowers place of residence. (e.g., shop downstairs, residence upstairs.)

·        Detached: Residential dwelling unit that has no common wall or other direct physical connection with another residential dwelling unit. Collected on the URLA in Section VI ( Schedule or Real Estate - Type of Property).

·        Farm: General category for classifying real estate designed and/or used as location to conduct agricultural activities, which may or may not include a residential dwelling unit on the land encompassed by the farm.

·        High Rise: Structure of multiple residential dwelling units of 5 stories or more.

·        Low Rise: Structure of multiple residential dwelling units that is of 4 stories or less.

·        Manufactured: Dwelling unit constructed and pre-assembled in large part at a factory, then shipped to homes site on trailer; base frame is NOT designed to for wheels and axles, but rather for permanently affixing unit to the foundation at the homes site.

·        Mobile Home: Dwelling unit constructed on metal base frame which features wheels and axles to be used in transporting home from place to place.

·        Modular: Dwelling unit constructed of multiple logical structural units (e.g., bathroom and plumbing core module, standard non-master bedroom modules, etc.)

·        Site Built: Describes construction process, indicating that most elements of the structure are created at the homes permanent site. Think of this as the flip side of Manufactured or Modular. Example: build homes frame at site, then do wiring and plumbing around and through the frame.

·        Stacked: Describes construction process, usually indicating that entire manufactured dwelling units are place one atop the other at the homes permanent site to create a multi-story structure.

·        Townhouse / Rowhouse: One in a row of identical houses or having common wall. Attached to another unit via common wall (e.g., a brownstone.) (Appraisal Foundation (AF) refers to this as house design style.)

Property City

The city in which the property is located.

URLA

Subject Property

Service ordering, Credit Reporting, Flood, MI, Secondary, Underwriting

String

Property County

The county in which the property is located.

FHA

Subject Property

Service ordering, Flood, MI, Secondary, Underwriting

String

Property Estimated Value Amount

A statement of the propertys present market value from the borrowers or loan originators estimate.

URLA

Subject Property

MI, Secondary, Underwriting

Money

Property Financed Number of Units

The number of individual family dwelling units being financed in the subject property. Collected on the URLA in Section II (No. Of Units).

URLA

Subject Property

MI, Secondary, Underwriting

Numeric

Property Gross Living Area Square Feet

The number of square feet in the gross living area of the subject property including only finished, above grade rooms.

Valuation

Appraisal

MI, Underwriting

Numeric

Property Ownership Type

Describes the type of ownership associated with a property.

Valuation

Subject Property

MI, Underwriting

Enumerated:

·        Condo-Hotel: Condo project with rental/registration desks, short-term rental, food & phone services & daily cleaning; operated as hotel even though units are individually owned. Collected on the URLA in Section VI (Schedule of Real Property - Type of Property.)

·        Condominium: A type of real estate ownership in which each unit owner has title to a unit in a building, an undivided interest in the common areas of the project as well as the basic structure, and sometimes the exclusive use of certain limited common areas. Collected on the URLA in Section VI ( Schedule of Real Estate - Type of Property).

·        Cooperative: A type of multiple ownership in which the residents of a multiunit housing complex own shares in the cooperative corporation that owns the property, giving each resident the right to occupy a specific apartment or unit. Collected on the URLA in Section VI ( Schedule of Real Estate - Type of Property).

Property Postal Code

The postal code (zip code in the US) of the property. Zip code may be either 5 or 9 digits.

URLA

Subject Property

Service ordering, Credit Reporting, Flood, MI, Secondary, Underwriting

String

Property REO Indicator

Indicates that a borrower currently owns the property.

Lender

Property

Credit Reporting, MI, Secondary, Underwriting

Boolean

Property State

The state in which the property is located.

URLA

Subject Property

Service ordering, Credit Reporting, Flood, MI, Secondary, Underwriting

String

Property Structure Built Year

The year in which the structure on the property was completed.

URLA

Subject Property

Flood, MI, Secondary, Underwriting

Date/Time

Property Subject Indicator

Indicates that the property is the subject of the financing.

Lender

Property

Credit Reporting, MI, Secondary, Underwriting

Boolean

Property Usage Type

Specifies intended use by the borrower of the property.

URLA

Subject Property

MI, Secondary, Underwriting

Enumerated:

·        Investor: The purchase of a home for the purpose of generating income by renting the property to tenants.

·        Primary Residence: Residence that the owner physically occupies and uses as his or her home.

·        Second Home: A property purchased for occupancy by the owner but is not the primary residence. Usually recreational properties.

Purchase Price Amount

The total dollar amount paid by the borrower for the property pledged as security for the mortgage. The purchase price is presented on the offer to purchase. Collected on the URLA in Section VII line a.

Offer to Purchase, URLA

Application

MI, Underwriting

Money

Race National Origin Refusal Indicator

Borrowers answer to the statement: I do not wish to furnish the HMDA) information. Collected on the URLA in Section X.

URLA

Declarations

MI, Underwriting

Boolean

Race/National Origin Type

The borrowers or interviewers statement about the borrowers race or national origin. Collected on the URLA in Section X (Race/National Origin).

URLA

Declarations

MI, Underwriting

Enumerated:

·        American Indian or Alaskan Native: Category as defined by Home Mortgage Disclosure Act section 202.13.

·        Asian or Pacific Islander: Category as defined by Home Mortgage Disclosure Act section 202.13.

·        Black Not of Hispanic Origin: Category as defined by Home Mortgage Disclosure Act section 202.13.

·        Hispanic: Category as defined by Home Mortgage Disclosure Act section 202.13.

·        Information Not Provided: Not provided by applicant in mail or telephone application. Category as defined by Home Mortgage Disclosure Act section 202.13.

·        Not Applicable: Borrower is an entity not an individual or there is no co-borrower. Category as defined by Home Mortgage Disclosure Act section 202.13.

·        Other: Category as defined by Home Mortgage Disclosure Act section 202.13.

·        White Not of Hispanic Origin: Category as defined by Home Mortgage Disclosure Act section 202.13.

Rate Adjustment Duration Months

The total number of months for which the rate adjustment will be effective.

Lender

Product

MI, Underwriting

Numeric

Rate Adjustment Initial Cap Percent

The maximum allowed increase in the interest rate (cap) at the initial adjustment.

Lender

Product

MI, Underwriting

Numeric(8,7)

Rate Adjustment Lifetime Cap Percent

The maximum percentage (cap) of the rate increase allowed for the entire life of the loan, if the interest rate on the subject loan can change.

Lender

Product

MI, Underwriting

Numeric(8,7)

Rate Adjustment Subsequent Cap Percent

The maximum percentage (cap) of the rate increase allowed at each rate adjustment period after the initial adjustment within the allowed duration. If the interest rate on the subject loan can change.

Lender

Product

MI, Underwriting

Numeric(8,7)

Residence Address 1

The unstructured street address at which the borrowers residence is located. Collected on the URLA in Section III (Present Address).

URLA

Borrower

Credit Reporting, MI, Secondary, Underwriting

String

Residence Address 2

The unit number (if any) of the address of the borrowers residence. Collected on the URLA in Section III (Present Address).

URLA

Borrower

Credit Reporting, MI, Underwriting

String

Residence Apartment Or Unit

The apartment or unit number (if any) of the address of the borrowers residence. Collected on the URLA in Section III (Present Address).

URLA

Borrower

Service ordering, Credit Reporting, Flood, MI, Underwriting

String

Residence City

The name of the city in which the borrowers residence is located. Collected on the URLA in Section III (Present Address).

URLA

Borrower

Credit Reporting, MI, Secondary, Underwriting

String

Residence Country

The name of the country in which the borrowers residence is located if not in USA.

URLA

Borrower

Credit Reporting, MI, Underwriting

String

Residence Postal Code

The postal code (zip code in the US) of the address of borrowers residence. Zip code may be either 5 or 9 digits. Collected on the URLA in Section III (Present Address).

URLA

Borrower

Credit Reporting, MI, Secondary, Underwriting

String

Residence State

The name of the state in which the borrowers residence is located. Collected on the URLA in Section III (Present Address).

URLA

Borrower

Credit Reporting, Flood, MI, Secondary, Underwriting

String

Residency Duration Years

The number of years the borrower resided at the indicated address. Could be either current or prior address. Collected on the URLA in Section III (Present Address or Former Address).

URLA

Borrower

Credit Reporting, MI, Secondary, Underwriting

Numeric

Response Destination

Supply the name appropriate for the Response Method selected. For example, for Email give an email address, for Fax give a telephone number. (See enumerated list in Response Method).

(not specified)

Service Order

Credit Reporting, Flood, MI

String

Response Format Type

Designate the response format type for the service or product being requested. The format options are Text, PCL, PDF, XML or Other. If Other is selected, enter the format in Response Format Other.

Service Request

Credit

Credit Reporting, MI

Enumerated:

·        Other: Enter description in Response Format Other.

·        PCL: A report formated with graphic PCL (Print Control Language) commands.

·        PDF: A formatted text report in the Adobe PDF (Portable Document Format).

·        Text: A formatted text report.

·        XML: XML format.

Response Method Type

Specifies the method for delivering the credit report - Email, Fax, File, FTP, HTTP, etc. The destination information is listed in the Response Destination element.

Request

Credit

Credit Reporting, MI

Enumerated:

·        Fax: Supply a telephone number

·        File: Supply a path and file name

·        FTP: Supply a URL

·        HTTP: Supply a URL

·        HTTPS: Supply a secure URL.

·        Mail: Supply a mailing address

·        Message Queue: Supply a queue name

·        Other: Specify in Delivery Method Other element

·        SMTP: Supply an email address.

·        VAN: Supply a mailbox ID

Scheduled First Payment Date

The date of the first scheduled mortgage payment to be made by the borrower under the terms of the mortgage.

LP

UW Case

MI, Underwriting

Date/Time

Seller Paid Conventional Closing Costs Amount

The estimated closing costs that the seller of the subject property will pay. Collected on the URLA in Section VII line k.

URLA

Application

MI, Underwriting

Money

Service Bureau Client Identifier

A code assigned by the service bureau to identify their client.

MI

MI

MI

String

Service Bureau Identifier

A code assigned by the MI industry to identify the service bureau provider.

MI

MI

MI

String

Subsequent Payment Adjustment Months

The number of months between the subsequent payment adjustments. If the subject mortgage payments can change by means other than a rate adjustment.

Lender

Product

MI, Underwriting

Numeric

Subsequent Rate Adjustment Months

The number of months between the subsequent rate adjustments. If the interest rate on the subject loan can change.

Lender

Product

MI, Underwriting

Numeric

Third Party Name

If mortgage was originated by third party, enter third party name.

1008

(not specified)

MI

String(50)