PRC Payment Rate Change
To identify interest rate changes for adjustable rate mortgages
Position
Element
Name
Type
Requirement
Min
Max
Repeat
Code specifying type of date or time, or both date and time.
Code indicating the date format, time format, or date and time format.
Expression of a date, a time, or range of dates, times or dates and times.
The interest rate as a percentage.
PRC04 identifies the index value.
The interest rate as a percentage.
PRC05 identifies the new pass through rate.
The interest rate as a percentage.
PRC06 identifies the new note rate.
Code to qualify amount
P0708: If either PRC-07 or PRC-08 is present, then the other is required
Monetary amount.
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. A ``N'' indicates the loan has not converted to fixed rate.
Code specifying the type of quantity.
P101112: If either PRC-10, PRC-11 or PRC-12 are present, then the others are required
Numeric value of quantity.
PRC11 identifies the extended term.
Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken
Power to which a unit is raised.
If C001-02 is not used, its value is to be interpreted as 1.
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.
Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken
Power to which a unit is raised.
If C001-05 is not used, its value is to be interpreted as 1.
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.
Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken
Power to which a unit is raised.
If C001-08 is not used, its value is to be interpreted as 1.
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.
Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken
Power to which a unit is raised.
If C001-11 is not used, its value is to be interpreted as 1.
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.
Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken
Power to which a unit is raised.
If C001-14 is not used, its value is to be interpreted as 1.
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.