PRC Payment Rate Change

To identify interest rate or payment changes for adjustable rate mortgages

Position: PRC-01 · Element: 374 · Name: Date/Time Qualifier · Type: Identifier (ID) · Requirement: Mandatory · Min: 3 · Max: 3 · Repeat: -

Code specifying type of date or time, or both date and time

Position: PRC-02 · Element: 1250 · Name: Date Time Period Format Qualifier · Type: Identifier (ID) · Requirement: Mandatory · Min: 2 · Max: 3 · Repeat: -

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

Position: PRC-03 · Element: 1251 · Name: Date Time Period · Type: String (AN) · Requirement: Mandatory · Min: 1 · Max: 35 · Repeat: -

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

Position: PRC-04 · Element: 953 · Name: Interest Rate · Type: Decimal number (R) · Requirement: Conditional · Min: 1 · Max: 6 · Repeat: -

The interest rate as a percentage

R04050608: At least one of PRC-04, PRC-05, PRC-06 or PRC-08 is required

PRC04 identifies the index value.

Position: PRC-05 · Element: 953 · Name: Interest Rate · Type: Decimal number (R) · Requirement: Conditional · Min: 1 · Max: 6 · Repeat: -

The interest rate as a percentage

PRC05 identifies the new pass through rate.

Position: PRC-06 · Element: 953 · Name: Interest Rate · Type: Decimal number (R) · Requirement: Conditional · Min: 1 · Max: 6 · Repeat: -

The interest rate as a percentage

PRC06 identifies the new note rate.

Position: PRC-07 · Element: 522 · Name: Amount Qualifier Code · Type: Identifier (ID) · Requirement: Conditional · Min: 1 · Max: 3 · Repeat: -

Code to qualify amount

P0708: If either PRC-07 or PRC-08 is present, then the other is required

Position: PRC-08 · Element: 782 · Name: Monetary Amount · Type: Decimal number (R) · Requirement: Conditional · Min: 1 · Max: 18 · Repeat: -

Monetary amount

Position: PRC-09 · 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

PRC09 confirms that the loan has been converted to fixed rate. A "Y" indicates the loan has converted to fixed rate; an "N" indicates the loan has not converted to fixed rate.

Position: PRC-10 · Element: 673 · Name: Quantity Qualifier · Type: Identifier (ID) · Requirement: Conditional · Min: 2 · Max: 2 · Repeat: -

Code specifying the type of quantity

P101112: If either PRC-10, PRC-11 or PRC-12 are present, then the others are required

Position: PRC-11 · Element: 380 · Name: Quantity · Type: Decimal number (R) · Requirement: Conditional · Min: 1 · Max: 15 · Repeat: -

Numeric value of quantity

PRC11 identifies the extended term.

PRC-12 C001 Composite Unit of Measure Composite (composite) Conditional

Position: 01 · Element: 355 · Name: Unit or Basis for Measurement Code · Type: Identifier (ID) · Requirement: Mandatory · Min: 2 · Max: 2 · Repeat: -

Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken

Position: 02 · Element: 1018 · Name: Exponent · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 15 · Repeat: -

Power to which a unit is raised

If C001-02 is not used, its value is to be interpreted as 1.

Position: 03 · Element: 649 · Name: Multiplier · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 10 · Repeat: -

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.

Position: 04 · Element: 355 · Name: Unit or Basis for Measurement Code · Type: Identifier (ID) · Requirement: Optional · Min: 2 · Max: 2 · Repeat: -

Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken

Position: 05 · Element: 1018 · Name: Exponent · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 15 · Repeat: -

Power to which a unit is raised

If C001-05 is not used, its value is to be interpreted as 1.

Position: 06 · Element: 649 · Name: Multiplier · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 10 · Repeat: -

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.

Position: 07 · Element: 355 · Name: Unit or Basis for Measurement Code · Type: Identifier (ID) · Requirement: Optional · Min: 2 · Max: 2 · Repeat: -

Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken

Position: 08 · Element: 1018 · Name: Exponent · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 15 · Repeat: -

Power to which a unit is raised

If C001-08 is not used, its value is to be interpreted as 1.

Position: 09 · Element: 649 · Name: Multiplier · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 10 · Repeat: -

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.

Position: 10 · Element: 355 · Name: Unit or Basis for Measurement Code · Type: Identifier (ID) · Requirement: Optional · Min: 2 · Max: 2 · Repeat: -

Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken

Position: 11 · Element: 1018 · Name: Exponent · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 15 · Repeat: -

Power to which a unit is raised

If C001-11 is not used, its value is to be interpreted as 1.

Position: 12 · Element: 649 · Name: Multiplier · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 10 · Repeat: -

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.

Position: 13 · Element: 355 · Name: Unit or Basis for Measurement Code · Type: Identifier (ID) · Requirement: Optional · Min: 2 · Max: 2 · Repeat: -

Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken

Position: 14 · Element: 1018 · Name: Exponent · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 15 · Repeat: -

Power to which a unit is raised

If C001-14 is not used, its value is to be interpreted as 1.

Position: 15 · Element: 649 · Name: Multiplier · Type: Decimal number (R) · Requirement: Optional · Min: 1 · Max: 10 · Repeat: -

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.