LN2 Existing Real Estate Loan Specific Data
LN2 Existing Real Estate Loan Specific Data
To provide specific information about a real estate loan
Position
Element
Name
Type
Requirement
Min
Max
Repeat
LN2-01
Lien Priority Code
Identifier (ID)
Mandatory
1
1
-
Code identifying the rights and relationship of a loan to any other loan secured by the same property
LN2-02
Real Estate Loan Type Code
Identifier (ID)
Mandatory
1
1
-
Code identifying the loan product category
LN2-03
Percentage as Decimal
Decimal number (R)
Conditional
1
10
-
Percentage expressed as a decimal (e.g., 0.0 through 1.0 represents 0% through 100%)
LN203 is the current loan note rate.
LN2-04
Frequency Code
Identifier (ID)
Conditional
1
1
-
Code indicating frequency or type of activities or actions being reported
LN204 is the period type for payment frequency.
LN2-05
Loan Payment Type Code
Identifier (ID)
Optional
2
2
-
Code identifying the nature of loan payment
LN2-06
Yes/No Condition or Response Code
Identifier (ID)
Optional
1
1
-
Code indicating a Yes or No condition or response
LN206 defines whether the loan is assumable. A "Y" indicates it is; an "N" indicates it is not.
LN2-07
Assumption Terms Code
Identifier (ID)
Optional
1
1
-
Code indicating the terms for loan assumption
LN2-08
Name
String (AN)
Optional
1
60
-
Free-form name
LN208 is the lender's name.
LN2-09
Optional
-
LN2-10
Quantity Qualifier
Identifier (ID)
Conditional
2
2
-
Code specifying the type of quantity
LN2-11
Quantity
Decimal number (R)
Optional
1
15
-
Numeric value of quantity
LN211 is the initial term of the loan.
LN2-12
Quantity
Decimal number (R)
Optional
1
15
-
Numeric value of quantity
LN212 is the remaining term of the loan.