MNC Mortgage Note Characteristics

To provide detailed characteristics information of a mortgage note

Position: MNC-01 · Element: 1136 · Name: Code Category · Type: Identifier (ID) · Requirement: Optional · Min: 2 · Max: 2 · Repeat: 1

Specifies the situation or category to which the code applies

Position: MNC-02 · Element: 1093 · Name: Real Estate Loan Type Code · Type: Identifier (ID) · Requirement: Optional · Min: 1 · Max: 1 · Repeat: 1

Code identifying the loan product category

Position: MNC-03 · Element: 1101 · Name: Lien Priority Code · Type: Identifier (ID) · Requirement: Optional · Min: 1 · Max: 1 · Repeat: 1

Code identifying the rights and relationship of a loan to any other loan secured by the same property

Position: MNC-04 · Element: 1085 · Name: Loan Payment Type Code · Type: Identifier (ID) · Requirement: Optional · Min: 2 · Max: 2 · Repeat: 1

Code identifying the nature of loan payment

Position: MNC-05 · Element: 1086 · Name: Loan Rate Type Code · Type: Identifier (ID) · Requirement: Optional · Min: 1 · Max: 1 · Repeat: 1

Code indicating the characteristics of the loan rate

Position: MNC-06 · Element: 594 · Name: Frequency Code · Type: Identifier (ID) · Requirement: Optional · Min: 1 · Max: 1 · Repeat: 1

Code indicating frequency or type of activities or actions being reported

Position: MNC-07 · Element: 1626 · Name: Interest Rate Calculation Method Code · Type: Identifier (ID) · Requirement: Optional · Min: 1 · Max: 1 · Repeat: 1

Code identifying the type of method used to calculate the interest rate

Position: MNC-08 · Element: 1470 · Name: Number · Type: Numeric (N0) · Requirement: Conditional · Min: 1 · Max: 9 · Repeat: 1

A generic number

MNC08 indicates the number of period days used in interest computation.

Position: MNC-09 · Element: 1470 · Name: Number · Type: Numeric (N0) · Requirement: Conditional · Min: 1 · Max: 9 · Repeat: 1

A generic number

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

MNC09 indicates the number of yearly days used in interest computation.

Position: MNC-10 · Element: 107 · Name: Payment Method Type Code · Type: Identifier (ID) · Requirement: Optional · Min: 1 · Max: 2 · Repeat: 1

Code identifying type of payment procedures

Position: MNC-11 · Element: 1265 · Name: Interest Payment Code · Type: Identifier (ID) · Requirement: Optional · Min: 1 · Max: 2 · Repeat: 1

Code identifying the method of interest payment

Position: MNC-12 · Element: 235 · Name: Product/Service ID Qualifier · Type: Identifier (ID) · Requirement: Conditional · Min: 2 · Max: 2 · Repeat: 1

Code identifying the type/source of the descriptive number used in Product/Service ID (234)

P1213: If either MNC-12 or MNC-13 is present, then the other is required

Position: MNC-13 · Element: 234 · Name: Product/Service ID · Type: String (AN) · Requirement: Conditional · Min: 1 · Max: 80 · Repeat: 1

Identifying number for a product or service

Position: MNC-14 · Element: 750 · Name: Product/Process Characteristic Code · Type: Identifier (ID) · Requirement: Conditional · Min: 2 · Max: 3 · Repeat: 1

Code identifying the general class of a product or process characteristic

P1415: If either MNC-14 or MNC-15 is present, then the other is required

Position: MNC-15 · Element: 751 · Name: Product Description Code · Type: String (AN) · Requirement: Conditional · Min: 1 · Max: 12 · Repeat: 1

A code from an industry code list which provides specific data about a product characteristic

Position: MNC-16 · Element: 1074 · Name: Type of Real Estate Asset Code · Type: Identifier (ID) · Requirement: Optional · Min: 2 · Max: 2 · Repeat: 1

Code identifying the nature of a real estate

Position: MNC-17 · Element: 1076 · Name: Real Estate Loan Security Instrument Code · Type: Identifier (ID) · Requirement: Optional · Min: 1 · Max: 1 · Repeat: 1

Code indicating type of security instrument