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Segment
in
X12 Release 003030

RAT Adjustable Rate Description

To describe terms of rate adjustment
Sequence
Element
Name
Type
Requirement
Min
Max
Repeat
01
355
Unit or Basis for Measurement Code
Identifier (ID)
Mandatory
2
2
-
Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken
RAT01 defines period type from 1st payment to 1st rate change.
Codes (682)
02
Quantity
Decimal number (R)
Mandatory
1
15
-
Numeric value of quantity.
RAT02 is number of periods from 1st payment to 1st rate change.
03
Source of Interest Rate Change Code
Identifier (ID)
Mandatory
2
2
-
Code identifying the source of index values for adjustable rate mortgage rate changes.
RAT03 defines the index used to adjust the mortgage interest rate.
Codes (71)
04
Percent
Decimal number (R)
Mandatory
1
10
-
Percentage expressed as a decimal
RAT04 is the adjustment margin to add to the index value.
05
Percent
Decimal number (R)
Mandatory
1
10
-
Percentage expressed as a decimal
RAT05 is the initial index percent value.
06
Percent
Decimal number (R)
Mandatory
1
10
-
Percentage expressed as a decimal
RAT06 is the periodic interest rate cap percent.
07
Unit or Basis for Measurement Code
Identifier (ID)
Mandatory
2
2
-
Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken
RAT07 is the period type for a periodic interest rate cap.
Codes (682)
08
Quantity
Decimal number (R)
Mandatory
1
15
-
Numeric value of quantity.
RAT08 is the number of periods for the periodic rate cap.
09
Unit or Basis for Measurement Code
Identifier (ID)
Conditional
2
2
-
Code specifying the units in which a value is being expressed, or manner in which a measurement has been taken
RAT09 is the period type between rate changes after the 1st.
Codes (682)
10
Quantity
Decimal number (R)
Optional
1
15
-
Numeric value of quantity.
C1009
RAT10 is the number of periods between rate changes after 1st.
11
Yes/No Condition or Response Code
Identifier (ID)
Optional
1
1
-
Code indicating a Yes or No condition or response.
RAT11 defines whether a loan may be converted to fixed rate. A ``Y'' indicates it may. A ``N'' indicates it may not.
Codes (3)
12
Percent
Decimal number (R)
Conditional
1
10
-
Percentage expressed as a decimal
RAT12 is the interest rate life cap percent.
13
Percent
Decimal number (R)
Optional
1
10
-
Percentage expressed as a decimal
RAT13 is the interest rate life floor percent.
14
Percent
Decimal number (R)
Conditional
1
10
-
Percentage expressed as a decimal
P1415
RAT14 is the rounding percent used for adjusting rates.
15
Rounding System Code
Identifier (ID)
Conditional
1
1
-
Code indicating the mechanism used to round a calculated value.
RAT15 defines the rouding mechanism to be used.
Codes (4)
16
Rate Life Cap Source Code
Identifier (ID)
Optional
1
1
-
Code identifying the rate life cap source.
C1612
RAT16 is the interest rate life cap source code.
Codes (3)
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Stedi is a registered trademark of Stedi, Inc. Stedi's EDI Reference and Mapping Guides are provided for marketing purposes and are free of charge. All names, logos, and brands of third parties listed on our site are trademarks of their respective owners (including “X12”, which is a trademark of X12 Incorporated). Stedi, Inc. and its products and services are not endorsed by, sponsored by, or affiliated with these third parties. Our use of these names, logos, and brands is for identification purposes only, and does not imply any such endorsement, sponsorship, or affiliation.