PAY Adjustable Payment Description

To provide the terms of payment adjustment

Position: PAY-01 · Element: 782 · Name: Monetary Amount · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 15 · Repeat: -

Monetary amount.

PAY01 is the current (adjusted) payment amount.

Position: PAY-02 · Element: 954 · Name: Percent · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 10 · Repeat: -

Percentage expressed as a decimal

PAY02 is the payment adjustment cap percent per change.

Position: PAY-03 · Element: 782 · Name: Monetary Amount · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 15 · Repeat: -

Monetary amount.

PAY03 is the payment adjustment cap amount per change.

Position: PAY-04 · Element: 954 · Name: Percent · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 10 · Repeat: -

Percentage expressed as a decimal

PAY04 is the payment adjustment life cap percent.

Position: PAY-05 · Element: 782 · Name: Monetary Amount · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 15 · Repeat: -

Monetary amount.

PAY05 is the payment adjustment life cap amount.

Position: PAY-06 · Element: 355 · Name: Unit of Measurement Code · Type: Identifier (ID) · Requirement: Conditional · Min: 2 · Max: 2 · Repeat: -

Code identifying the basic unit of measurement.

P0607: If either PAY-06 or PAY-07 is present, then the other is required

PAY06 defines period type from 1st payment to 1st payment change.

Position: PAY-07 · Element: 380 · Name: Quantity · Type: Decimal number (R) · Requirement: Conditional · Min: 1 · Max: 15 · Repeat: -

Numeric value of quantity.

PAY07 is number of periods from 1st payment to 1st payment change.

Position: PAY-08 · Element: 355 · Name: Unit of Measurement Code · Type: Identifier (ID) · Requirement: Conditional · Min: 2 · Max: 2 · Repeat: -

Code identifying the basic unit of measurement.

P0809: If either PAY-08 or PAY-09 is present, then the other is required

PAY08 defines period type between payment changes after 1st payment change.

Position: PAY-09 · Element: 380 · Name: Quantity · Type: Decimal number (R) · Requirement: Conditional · Min: 1 · Max: 15 · Repeat: -

Numeric value of quantity.

PAY09 is the number of periods between payment changes after 1st payment change.

Position: PAY-10 · Element: 954 · Name: Percent · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 10 · Repeat: -

Percentage expressed as a decimal

Position: PAY-11 · Element: 954 · Name: Percent · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 10 · Repeat: -

Percentage expressed as a decimal

PAY11 is the optional payment cap percent.

Position: PAY-12 · Element: 782 · Name: Monetary Amount · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 15 · Repeat: -

Monetary amount.

PAY12 is the optional payment cap amount.

Position: PAY-13 · Element: 1073 · Name: Yes/No Condition or Response Code · Type: Identifier (ID) · Requirement: Optional · Min: 1 · Max: 1 · Repeat: -

Code indicating a Yes or No condition or response.

PAY13 defines whether payment adjustments are scheduled. A "Y" indicates payment adjustments are scheduled. A "N" indicates payment adjustments are not scheduled.

Position: PAY-14 · Element: 954 · Name: Percent · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 10 · Repeat: -

Percentage expressed as a decimal

PAY14 is the percent by which payment amount changes.

Position: PAY-15 · Element: 380 · Name: Quantity · Type: Decimal number (R) · Requirement: Conditional · Min: 1 · Max: 15 · Repeat: -

Numeric value of quantity.

P1516: If either PAY-15 or PAY-16 is present, then the other is required

PAY15 is the number of scheduled payment changes.

Position: PAY-16 · Element: 782 · Name: Monetary Amount · Type: Decimal number (R) · Requirement: Conditional · Min: 1 · Max: 15 · Repeat: -

Monetary amount.

PAY16 is the scheduled payment increase amount per change.

Position: PAY-17 · Element: 1087 · Name: Negative Amortization Qualifier · Type: Identifier (ID) · Requirement: Optional · Min: 1 · Max: 1 · Repeat: -

Code indicating the nature of negative amortization.

PAY17 defines the type of negative amortization.

Position: PAY-18 · Element: 954 · Name: Percent · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 10 · Repeat: -

Percentage expressed as a decimal

PAY18 is the negative amortization cap percent.

Position: PAY-19 · Element: 782 · Name: Monetary Amount · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 15 · Repeat: -

Monetary amount.

PAY19 is the negative amortization cap total amount.

Position: PAY-20 · Element: 1092 · Name: Negative Amoritzation Cap Source Code · Type: Identifier (ID) · Requirement: Optional · Min: 1 · Max: 1 · Repeat: -

Code identifying the value used to calculate maximum negative amortization allowed.

PAY20 is the negative amortization cap source.

Position: PAY-21 · Element: 1073 · Name: Yes/No Condition or Response Code · Type: Identifier (ID) · Requirement: Optional · Min: 1 · Max: 1 · Repeat: -

Code indicating a Yes or No condition or response.

PAY21 defines whether payment adjustment cap is optional. A "Y" indicates payment adjustment cap is optional. A "N" indicates payment adjustment cap is not optional.