LN Loan Information

To specify information about the loan

Position: LN-01 · Element: 127 · Name: Reference Identification · Type: String (AN) · Requirement: Mandatory · Min: 1 · Max: 30 · Repeat: -

Reference information as defined for a particular Transaction Set or as specified by the Reference Identification Qualifier

LN01 is the loan number.

Position: LN-02 · Element: 782 · Name: Monetary Amount · Type: Decimal number (R) · Requirement: Mandatory · Min: 1 · Max: 15 · Repeat: -

Monetary amount

LN02 is the account balance.

Position: LN-03 · Element: 1250 · Name: Date Time Period Format Qualifier · Type: Identifier (ID) · Requirement: Conditional · Min: 2 · Max: 3 · Repeat: -

Code indicating the date format, time format, or date and time format

P0304: If either LN-03 or LN-04 is present, then the other is required

Position: LN-04 · Element: 1251 · Name: Date Time Period · Type: String (AN) · Requirement: Conditional · Min: 1 · Max: 35 · Repeat: -

Expression of a date, a time, or range of dates, times or dates and times

LN04 is the date of the loan.

Position: LN-05 · Element: 594 · Name: Frequency Code · Type: Identifier (ID) · Requirement: Conditional · Min: 1 · Max: 1 · Repeat: -

Code indicating frequency or type of payment

P0506: If either LN-05 or LN-06 is present, then the other is required

LN05 is the payment frequency.

Position: LN-06 · Element: 782 · Name: Monetary Amount · Type: Decimal number (R) · Requirement: Conditional · Min: 1 · Max: 15 · Repeat: -

Monetary amount

LN06 is the payment amount.

Position: LN-07 · Element: 954 · Name: Percent · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 10 · Repeat: -

Percentage expressed as a decimal

LN07 is the interest rate of the loan.

Position: LN-08 · 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

LN08 designates whether this is an open or closed end loan. A "Y" designates an open end loan; an "N" designates a closed end loan.

Position: LN-09 · Element: 1081 · Name: Loan Purpose Code · Type: Identifier (ID) · Requirement: Optional · Min: 2 · Max: 2 · Repeat: -

Code identifying the reason the loan is needed