MIR Mortgage Insurance Response
To determine if mortgage insurance has been approved or declined, and if approved, supply details about the coverage
Position
Element
Name
Type
Requirement
Min
Max
Repeat
Code identifying the type of Mortgage Insurance application.
Code indicating the decision made by the underwriter
Code indicating whether Mortgage Insurance certificate is for primary loan or pool loan or both.
Reference number or identification number as defined for a particular Transaction Set, or as specified by the Reference Number Qualifier.
MIR04 defines the certificate of insurance number.
Percentage expressed as a decimal
MIR05 defines the percentage of the premium of the initial term.
Monetary amount.
MIR06 defines the amount of the premium of the initial term.
Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken
P0708: If either MIR-07 or MIR-08 is present, then the other is required
MIR07 defines the unit of measure for the term of the mortgage insurance.
Numeric value of quantity.
MIR08 defines the term of the mortgage insurance coverage as either a period of time or as a percentage of the loan outstanding when compared to the value of the property.
Percentage expressed as a decimal
MIR09 defines the amount of mortgage insurance as a percentage.
Percentage expressed as a decimal
MIR10 defines the loan to value (LTV) ratio at the time of loan origination.
Loan-to-value ratio is the percentage of the loan outstanding when compared to the value of the property.
Code indicating the type of renewal option for Mortgage Insurance.
Date (YYMMDD).
MIR12 defines the expiration date of the proposed coverage.