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Segment
in
X12 Release 008010

LRQ Mortgage Characteristics Requested

To describe the characteristics of a mortgage requested by the applicant(s)
Sequence
Element
Name
Type
Requirement
Min
Max
Repeat
01
782
Monetary Amount
Decimal number (R)
Mandatory
1
18
1
Monetary amount
LRQ01 is the principal amount requested.
02
Percentage as Decimal
Decimal number (R)
Optional
1
10
1
Percentage expressed as a decimal (e.g., 0.0 through 1.0 represents 0% through 100%)
LRQ02 is the loan requested interest rate percent.
03
Rate/Value Qualifier
Identifier (ID)
Conditional
2
2
1
Code identifying how to extend charges or interpret value
P0304
LRQ03 is the period type for payment frequency.
Codes (182)
04
Monetary Amount
Decimal number (R)
Conditional
1
18
1
Monetary amount
LRQ04 is the initial periodic principal and interest payment.
05
Type of Residence Code
Identifier (ID)
Optional
1
1
1
Code identifying type of residence
LRQ05 defines intended property use.
Codes (15)
06
Contact Method Code
Identifier (ID)
Optional
1
1
1
Code indicating the type of contact
LRQ06 defines the method of conduct of the interview.
Codes (4)
07
Yes/No Condition or Response Code
Identifier (ID)
Optional
1
1
1
Code indicating a Yes or No condition or response
LRQ07 defines if the loan is an assumption of an existing loan. A "Y" indicates it is an assumption; an "N" indicates it is not.
If LRQ07 is "Y - Yes", then LRQ08 is required.
Codes (9)
08
Assumption Terms Code
Identifier (ID)
Optional
1
1
1
Code indicating the terms for loan assumption
Codes (4)
09
Loan Purpose Code
Identifier (ID)
Optional
2
2
1
Code identifying the reason the loan is needed
LRQ09 defines the loan purpose.
If LRQ09 is "05 - Refinance," then LRQ12 is required.
If LRQ09 is "15 - Other Loan Purpose," then LRQ20 is required.
If LRQ09 is "05" - Refinance and LRQ10 is "14" - Other Purpose of Refinance, then LRQ20 is required.
Codes (45)
10
Composite Use of Proceeds
Composite (composite)
Optional
1
01
Use of Proceeds Code
Identifier (ID)
Mandatory
2
2
-
Code specifying how proceeds will be used or why they are being requested
Codes (21)
02
Refinance Type Code
Identifier (ID)
Optional
2
2
-
Code specifying a type of refinance
Codes (3)
03
Use of Proceeds Code
Identifier (ID)
Optional
2
2
-
Code specifying how proceeds will be used or why they are being requested
Codes (21)
04
Yes/No Condition or Response Code
Identifier (ID)
Optional
1
1
-
Code indicating a Yes or No condition or response
C048-04 determines whether or not the subordinate mortgage will be paid off. A "Y" indicates the subordinate mortgage will be paid off and rolled into the new first mortgage. A "N" indicates the subordinate mortgage will not be paid off.
Codes (9)
11
Monetary Amount
Decimal number (R)
Optional
1
18
1
Monetary amount
LRQ11 is the total amount of existing liens.
12
Monetary Amount
Decimal number (R)
Optional
1
18
1
Monetary amount
LRQ12 is the total amount of debts paid by proceeds.
13
Description
String (AN)
Optional
1
80
1
A free-form description to clarify the related data elements and their content
LRQ13 is the legislative reference of a government loan program.
14
Description
String (AN)
Optional
1
80
1
A free-form description to clarify the related data elements and their content
LRQ14 is the name of the lender's program for this loan.
15
Real Estate Loan Type Code
Identifier (ID)
Optional
1
1
1
Code identifying the loan product category
If LRQ15 is "7 - Other Real Estate Loan Type," then LRQ16 is required.
Codes (18)
16
Description
String (AN)
Optional
1
80
1
A free-form description to clarify the related data elements and their content
17
Loan Payment Type Code
Identifier (ID)
Optional
2
2
1
Code identifying the nature of loan payment
If LRQ17 is "01 - Adjustable Rate Mortgage (ARM)" or "13 - Other Loan Payment Type," then LRQ18 is required.
Codes (31)
18
Description
String (AN)
Optional
1
80
1
A free-form description to clarify the related data elements and their content
19
Number
Numeric (N0)
Optional
1
9
1
A generic number
LRQ19 is the mortgage term expressed in months.
20
Description
String (AN)
Optional
1
80
1
A free-form description to clarify the related data elements and their content
21
Code Category
Identifier (ID)
Optional
2
2
1
Code specifying the situation or category to which the code applies
LRQ21 defines the current investor of the refinanced loan.
Codes (427)
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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.