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Loan Core Ontology
QName: fibo-loan-ln-ln:
This ontology defines the fundamental concepts for loans, with emphasis on mortgages. The loan contract is the core concept. It includes includes the primary obligations to fund the loan and to pay it back according to payment schedules. The contract is also connected to various parties including borrower, lender, and originator. Kinds of loans covered in this ontology include open and closed end, secured and mortgages. Another major thread of the loan core ontology is credit risk assessment, which includes property appraisals, security agreements, pre-approvals, credit scores and credit reports.
http://opensource.org/licenses/MIT
Copyright (c) 2016-2018 EDM Council, Inc.
Copyright (c) 2016-2018 Object Management Group, Inc.
fibo-loan-ln-ln
Created with e6Tools Graphical OWL Editor from D:\SEMANTIC-ARTS\NAS\ClientsAndPartners\EDM Council\fibo ontologies\LoanOntology\loans.vsdx Page:loanCore
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all borrowers monthly income
QName: fibo-loan-ln-ln:AllBorrowersMonthlyIncome
total monthly qualifying income for all borrowers on the loan
the 2015 Revised HMDA regulation.
This should be computed from the income of the individual borrowers.
amortization schedule
QName: fibo-loan-ln-ln:AmortizationSchedule
a schedule which specifies changes in the scheduled balance of loan principal over time
If needed, we can extend this to include the idea of an AmortizationScheduledPayment which includes interest and principal and many of which comprise an AmortizationSchedule
For simplicity, this definition assums that 'month n' ' on an AmortizationSchedule corresoponds to a CalculatedDate.
a category indicating how the loan amortizes
QName: fibo-loan-ln-ln:AmortizationType
automated underwriting system
QName: fibo-loan-ln-ln:AutomatedUnderwritingSystem
a software sytstem that produces loan underwriting decisions
http://www.investopedia.com/terms/a/automated_underwriting.asp
borrower monthly income
QName: fibo-loan-ln-ln:BorrowerMonthlyIncome
total monthly qualifying income of the potential borrower
the 2015 Revised HMDA regulation.
cash out status
QName: fibo-loan-ln-ln:CashOutStatus
a category indicating the extent to which funds are released to the borrower on a new loan origination that is refinancing an existing loan
This is subject to lender and/or investor policy(s).
closed end loan contract
QName: fibo-loan-ln-ln:ClosedEndLoanContract
a loan contract that has an amount borrowed for a fixed amount of time, and is not considered open ended
2015 Revised HMDA regulation
combined loan to value ratio percent
QName: fibo-loan-ln-ln:CombinedLTVRatioPercent
the ratio of the total amount of debt that is secured by the property to the value of the property relied on.
the 2015 Revised HMDA regulation.
commitment to fund
QName: fibo-loan-ln-ln:CommitmentToFund
a commitment that obliges the lender to provide funds pursuant to a loan contract
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commitment to pay
QName: fibo-loan-ln-ln:CommitmentToPay
a commitment obliging one party to make a payment to another party (e.g. to fund a loan, make payments, pay origination fees)
Future consideration: perhaps add payment methods, and timing constraints.
commitment to repay
QName: fibo-loan-ln-ln:CommitmentToRepay
a commitment obliging the borrower to repay funds that have been loaned, in a manner pursuant to a loan contract
commitment to report
QName: fibo-loan-ln-ln:CommitmentToReport
a commitment obliging a party to deliver a report
construction type
QName: fibo-loan-ln-ln:ConstructionType
a particular kind of construction
credit evaluation product
QName: fibo-loan-ln-ln:CreditEvaluationProduct
a particular kind of credit evaluation
credit inquiry
QName: fibo-loan-ln-ln:CreditInquiry
a request from a lender to a credit repository to obtain information regarding a prospective borrower's creditworthiness
credit inquiry type
QName: fibo-loan-ln-ln:CreditInquiryType
a category indicating whether a credit inquiry is a result of a borrower's direct authorization or by some indirect means
credit message
QName: fibo-loan-ln-ln:CreditMessage
a textual annotation on a credit report to notify a reviewer of special or exceptional information
credit message type
QName: fibo-loan-ln-ln:CreditMessageType
a particular kind of credit message
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credit report
QName: fibo-loan-ln-ln:CreditReport
a report describing the creditworthiness and related credit attributes of a borrower.
This is typically provided by a credit reporting agency but could be produced by an internal proprietary model as well.
credit report category
QName: fibo-loan-ln-ln:CreditReportCategory
a particular kind of credit report, often available from multiple vendors
credit report product
QName: fibo-loan-ln-ln:CreditReportProduct
a specifically branded credit report offered in the market place
credit report request
QName: fibo-loan-ln-ln:CreditReportRequest
the act of requesting a credit report from a credit report provider
credit report response
QName: fibo-loan-ln-ln:CreditReportResponse
the act of responding to a credit report request
credit reporting agency (i)
QName: fibo-loan-ln-ln:CreditReportingAgency
an organization that provides credit reports
credit repository (i)
QName: fibo-loan-ln-ln:CreditRepository
a credit reporting agency that is a clearinghouse for information on the credit rating of individuals or firms
myFICO glossary of credit terms
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credit risk assessment
QName: fibo-loan-ln-ln:CreditRiskAssessment
a risk assessment that focuses on determining the likelihood of a potential borrower repaying a loan
If the risk assessment is based on one of the automated underwriting sytems, then the underwriting automation category is 'automated'. This dependency could be automated (as it were).
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credit score
QName: fibo-loan-ln-ln:CreditScore
a quantitative measure or category that results from a credit evaluation model
credit score category
QName: fibo-loan-ln-ln:CreditScoreCategory
a credit score that is a qualitative measure
credit score factor
QName: fibo-loan-ln-ln:CreditScoreFactor
something that is taken into account when determining a CreditScore
credit score model
QName: fibo-loan-ln-ln:CreditScoreModel
an algorithm for computing the credit score of e.g. a credit applicant
Use dct:hasVersion to specify a version for the credit score model.
credit score model type
QName: fibo-loan-ln-ln:CreditScoreModelType
a type corresonding to a family of credit scoring algorithms sharing common characteristics
credit score number
QName: fibo-loan-ln-ln:CreditScoreNumber
a credit score that is a quantitative measure
credit trade line
QName: fibo-loan-ln-ln:CreditTradeLine
an information product derived from the transaction history of a credit account
dwelling capacity
QName: fibo-loan-ln-ln:DwellingCapacity
a category indicating how many dwellings some property has
ethnicity
QName: fibo-loan-ln-ln:Ethnicity
a category based on a cultural factors, including nationality, regional culture, ancestry, and language
how submitted
QName: fibo-loan-ln-ln:HowSubmitted
a category indicating whether the applicant or borrower submitted the application for the covered loan directly to the reporting financial institution
the 2015 Revised HMDA regulation.
lender lien position
QName: fibo-loan-ln-ln:LenderLienPosition
a category indicating whether the lender has the primary lien position
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loan application
QName: fibo-loan-ln-ln:LoanApplication
a request by a potential borrower to a potential lender to borrow money containing information used to decide whether to grant the loan
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loan contract
QName: fibo-loan-ln-ln:LoanContract
an agreement whereby one party extends money or credit to another party with the agreement that the borrowed money will be repaid according to specific terms
http://financial-dictionary.thefreedictionary.com/Loan
Not all loan contracts are debt instruments, the latter requires that the debt obligations are transferable. See: http://www.investopedia.com/terms/d/debtinstrument.asp
There are many terms of a loan contract. They are shown here connected directly to the contract, which is true in the world. For modeling convenience, you have the option to group the terms together into containers that the LoanContract points to. The terms are then connected to the containers instead of to the contract. For example, an instance of the class 'interest payment terms' could be used to contain all the interest rate terms for a given loan contract.
loan market category
QName: fibo-loan-ln-ln:LoanMarketCategory
a category indicating the market domain in which the loan product is offered
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loan offer
QName: fibo-loan-ln-ln:LoanOffer
a generic loan product offered to the public, or a specific offer tailored to particular circumstances aimed at one potential borrower
loan product
QName: fibo-loan-ln-ln:LoanProduct
a type of loan that a borrower may acquire from a lending institution with specific characteristics and terms
Future consideration: perhaps flesh this out more and align with schema.org.
manufactured home legal classification
QName: fibo-loan-ln-ln:ManufacturedHomeLegalClassification
a category indicating whether the covered loan is secured by a manufactured home only or with land as well
the 2015 Revised HMDA regulation.
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mortgage loan contract
QName: fibo-loan-ln-ln:MortgageLoanContract
a loan contract that is secured by real property
the Cambridge Business English Dictionary
mortgage loan purpose
QName: fibo-loan-ln-ln:MortgageLoanPurpose
the purpose for which mortgage loan proceeds will be used, such as real property purchase, dwelling construction, or loan refinancing
Nationwide Mortgage Licensing System and Registry Identifier
QName: fibo-loan-ln-ln:NMLSR_ID
the number permanently assigned by the Nationwide Mortgage Licensing System and Registry (NMLS) for each company, branch, and individual that maintains a single account on NMLS.
NMLSR ID
http://mortgage.nationwidelicensingsystem.org/about/Pages/NMLSID.aspx
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open end loan contract
QName: fibo-loan-ln-ln:OpenEndLoanContract
a loan contract for a line of credit where a borrower may take money and pay it back up to an agreed limit, and interest is charged only on the amount that remains, which may be paid off at any time within the period of the line.
Cambridge Business English Dictionary.
In summary, open ended means not having fixed maturity date and scheduled repayments.
There is a credit limit most of the time. The exception is reverse mortgage with tenure payment.
ownership interest type
QName: fibo-loan-ln-ln:OwnershipInterestType
a category indicating the nature of the applicant's or borrower's ownership or leasehold interest in the land where the manufactured home is located.
It would be possible to create a subclas of this for other called something like CustomOwnershipType if it was necessary to keep the standard options separate.
the 2015 Revised HMDA regulation.
The 'other' category with a custom description can be handled by creating another instance of this class.
pre approval contract
QName: fibo-loan-ln-ln:PreApprovalContract
a written commitment to lend when specified conditions are met, e.g. finding suitable property, and unchanged creditworthiness
the 2015 Revised HMDA regulation.
A commitment from a lender to a borrower to extend a home purchase loan up to a certain amount, and subject to certain non-credit related conditions. This commitment is entered into after a comprehensive analysis of the credit worthiness of the borrower is carried out.
NOTE: this may also include limits on the region where to purchase.
pre-approval request
QName: fibo-loan-ln-ln:PreApprovalRequest
a request from a potential borrower that a lender commit to pre-approving the borrower for a loan of up to a specified amount of money
This may also inlcude limits on the region where to purchase.
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property inspection
QName: fibo-loan-ln-ln:PropertyInspection
the act of analyzing one or more aspects of a real property for independent assessment of status or deficiency
This is independent and separate from conducting an appraisal. Examples are termite inspections, construction inspections, etc.
property usage
QName: fibo-loan-ln-ln:PropertyUsage
a category indicating the manner in which the borrower intends to utilize the property
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public record
QName: fibo-loan-ln-ln:PublicRecord
a record about an action involving a party that is publicly available from court or other government agencies
This assumes that the domain of the property refersTo has been removed. At one point it was such that the PublicRecord is incorrectly infered into the class Reference. Similar issue with isEvidencedBy whose domain and range need to be expanded to include this usage in preference to creating a new property.
This can include court actions such as bankruptcy and foreclosure, as well as liens and other events that have been recorded.
public record category
QName: fibo-loan-ln-ln:PublicRecordCategory
a particular classification of public record, e.g. tax lien, wage garnishment, foreclosure
race
QName: fibo-loan-ln-ln:Race
a category based on a person's physical characteristics, such as bone structure and skin, hair, or eye color
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real property appraisal
QName: fibo-loan-ln-ln:RealPropertyAppraisal
an act of real estate valuation that determines the amount of money a real estate property is worth.
Future consideration: add information about variability analysis and maybe the algorithm used.
The valuation uses one or more methodologies and is conducted by an appraiser or technology with a logical model that performs the same function.
Ensure that the appraiser parties have NMLS Identifier and contact preferences, e.g. phone number and address.
As needed, use the worksFor property to connect appraisers to the appraisal management company.
reverse mortgage loan contract
QName: fibo-loan-ln-ln:ReverseMortgageLoanContract
a mortgage contract that pays out money to the borrower against a set principal limit that is based on the value of existing equity in the underlying collateral.
A reverse mortgage and an open end loan both have a credit limit.
The interest is added to the principal balance.
secured loan contract
QName: fibo-loan-ln-ln:SecuredLoanContract
a loan contract that is secured by some collateral
security agreement
QName: fibo-loan-ln-ln:SecurityAgreement
an agreement between two trading parties that contains information about their relative duties and rights regarding the disposition of a specified asset that has been used as collateral
ISO 20022
total debt expense ratio
QName: fibo-loan-ln-ln:TotalDebtExpenseRatio
a portion of 100 that represents the ratio of all monthly debt payments of all the borrowers, including proposed housing expenses, to the income of the borrowers as relied upon to make a credit decision
the 2015 Revised HMDA regulation.
This is not connected to an individual borrower because it is computed from data from multiple borrowers.
back end ratio
underwriting automation
QName: fibo-loan-ln-ln:UnderwritingAutomation
a category indicating whether a loan was underwritten manually or using an automated underwriting system
underwriting decision
QName: fibo-loan-ln-ln:UnderwritingDecision
a loan approval recommendation determined either manually or by an automated underwriting system
the 2015 Revised HMDA regulation.
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universal loan identifier
QName: fibo-loan-ln-ln:UniversalLoanIdentifier
a unique identifier given to unequivocally identify a specific mortgage loan.
In the US, the structure of this identifier is defined in the 2015 revision to the Home Mortgage Disclosure Act.
adjustable rate
QName: fibo-loan-ln-ln:_AmortizationType_adjustableRate
a loan that allows the lender to periodically adjust the interest rate in accordance with a specified index
the 2015 Revised HMDA regulation.
fixed rate
QName: fibo-loan-ln-ln:_AmortizationType_fixedRate
a loan in which the interest rate and payments remain the same for the life of the loan
the 2015 Revised HMDA regulation.
graduated payment
QName: fibo-loan-ln-ln:_AmortizationType_graduatedPayment
a flexible payment loan where the payments increase for a specified period of time and then level off
the 2015 Revised HMDA regulation.
Usually involves negative amortization.
graduated payment adjustable
QName: fibo-loan-ln-ln:_AmortizationType_graduatedPaymentAdjustable
a loan for which there are periodic payments/rate changes with additional specified principal and interest changes as documented in the Security Instruments.
the 2015 Revised HMDA regulation.
growing equity
QName: fibo-loan-ln-ln:_AmortizationType_growingEquity
A graduated payment loan in which increases in a borrowers loan payments are used to accelerate reduction of principal on the mortgage
the 2015 Revised HMDA regulation.
Due to increased payment, the borrower acquires equity more rapidly and retires the debt earlier.
rate improvement
QName: fibo-loan-ln-ln:_AmortizationType_rateImprovement
a type of flexible loan where the interest rate may decrease based on payment history.
the 2015 Revised HMDA regulation.
step
QName: fibo-loan-ln-ln:_AmortizationType_step
a loan with fixed periodic payment/rate changes without subsidy or negative amortization.
the 2015 Revised HMDA regulation.
Desktop Underwriter
QName: fibo-loan-ln-ln:_AutomatedUnderwritingSystem_DesktopUnderwriter
an automated underwriting software system produced by Fannie Mae
FHA Scorecard
QName: fibo-loan-ln-ln:_AutomatedUnderwritingSystem_FHAScorecard
an automated underwriting software system produced by Federal Housing Administration (FHA)
Guaranteed Underwriting System
QName: fibo-loan-ln-ln:_AutomatedUnderwritingSystem_GuaranteedUnderwritingSystem
an automated underwriting software system used by the USDA rural development loan program
GUS
Loan Prospector
QName: fibo-loan-ln-ln:_AutomatedUnderwritingSystem_LoanProspector
an automated underwriting software system produced by Freddie Mac
cashout
QName: fibo-loan-ln-ln:_CashOutStatus_CashOut
the mortgage is refinanced for more than is owed and the borrower pockets the difference.
limited cashout
QName: fibo-loan-ln-ln:_CashOutStatus_LimitedCashOut
a cashout mortgage where the amount is limited by the lenger. 80% loan to value ratio is a common limit.
no cashout
QName: fibo-loan-ln-ln:_CashOutStatus_NoCashOut
The mortgage is refinanced for less than or equal to what is owed.
appraisal fee
QName: fibo-loan-ln-ln:_ChargeCategory_appraisalFee
a charge for an appraisal
discount points
QName: fibo-loan-ln-ln:_ChargeCategory_discountPoints
a charge for lowering your interest rate
https://www.consumerfinance.gov/askcfpb/136/what-are-discount-points-and-lender-credits-and-how-do-they-work.html
lender credits
QName: fibo-loan-ln-ln:_ChargeCategory_lenderCredits
a credit whereby the lender reduces closing costs in exchange for a higher interest rate.
https://www.consumerfinance.gov/askcfpb/136/what-are-discount-points-and-lender-credits-and-how-do-they-work.html
This needs to be treated as a negative charge.
origination fee
QName: fibo-loan-ln-ln:_ChargeCategory_originationFee
a charge for an origination
principal
QName: fibo-loan-ln-ln:_ChargeCategory_principal
the principal of the loan that is owed
manufactured
QName: fibo-loan-ln-ln:_ConstructionType_manufactured
a factory-built dwelling built in compliance with the Federal Manufactured Home Construction and Safety Standards in effect at the time the home was manufactured as evidenced by the HUD label
mobile home
QName: fibo-loan-ln-ln:_ConstructionType_mobileHome
a dwelling unit constructed on a base frame which features wheels and axles to be used in transporting home from place to place
It does not meet HUD code.
mosular
QName: fibo-loan-ln-ln:_ConstructionType_modular
a factory-built dwelling not on a permanent chassis
on frame modular
QName: fibo-loan-ln-ln:_ConstructionType_onFrameModular
a factory built dwelling on a permanent chassis which does not have a HUD label
site built
QName: fibo-loan-ln-ln:_ConstructionType_siteBuilt
describes construction process, indicating that most elements are created at the homes permanent site. May include some prefabricated components
hard
QName: fibo-loan-ln-ln:_CreditInquiryType_hard
soft
QName: fibo-loan-ln-ln:_CreditInquiryType_soft
alert
QName: fibo-loan-ln-ln:_CreditMessage_alert
freeze
QName: fibo-loan-ln-ln:_CreditMessage_freeze
credit application incomplete
QName: fibo-loan-ln-ln:_DenialReason_creditApplicationIncomplete
The application was denied because the credit application was not complete.
insufficient cash
QName: fibo-loan-ln-ln:_DenialReason_insufficientCash
The application was denied due to insufficient down payment, or cash available to pay closing costs.
insufficient collateral value
QName: fibo-loan-ln-ln:_DenialReason_insufficientCollateralValue
The application was denied because the value or type of collateral was not sufficient.
insufficient credit history
QName: fibo-loan-ln-ln:_DenialReason_insufficientCreditHistory
The application was denied because the credit history was too limited, unacceptable, or not at sufficient standing.
insufficient employment history
QName: fibo-loan-ln-ln:_DenialReason_insufficientEmploymentHistory
The application was denied because the employment is irregular, unknown, or not sufficient.
insufficient income
QName: fibo-loan-ln-ln:_DenialReason_insufficientIncome
The application was denied because the debt to income ratio is too high.
mortgage insurance denied
QName: fibo-loan-ln-ln:_DenialReason_mortgageInsuranceDenied
The application was denied because necessary mortgage insurance was denied.
unverifiable information
QName: fibo-loan-ln-ln:_DenialReason_unverifiableInformation
The application was denied because qualification information such as income, employment, credit, or residence) was not verifiable.
multi family
QName: fibo-loan-ln-ln:_DwellingCapacity_multiFamily
5 or more units
single family
QName: fibo-loan-ln-ln:_DwellingCapacity_singleFamily
1-4 units
primary
QName: fibo-loan-ln-ln:_LienPosition_primary
subordinate
QName: fibo-loan-ln-ln:_LienPosition_subordinate
auto loan
QName: fibo-loan-ln-ln:_LoanMarketCategory_Automobile
commercial loan
QName: fibo-loan-ln-ln:_LoanMarketCategory_Commercial
construction loan
QName: fibo-loan-ln-ln:_LoanMarketCategory_Construction
education loan
QName: fibo-loan-ln-ln:_LoanMarketCategory_Education
mortgage loan
QName: fibo-loan-ln-ln:_LoanMarketCategory_Mortgage
personal loan
QName: fibo-loan-ln-ln:_LoanMarketCategory_Personal
small business loan
QName: fibo-loan-ln-ln:_LoanMarketCategory_SmallBusiness
This is related to the mortgage loan purpose: 'business or commercial'.
personal property
QName: fibo-loan-ln-ln:_ManufacturedHomeLegalClassification_personalProperty
the covered loan is secured by a manufactured home but not land
the 2015 Revised HMDA regulation.
real property
QName: fibo-loan-ln-ln:_ManufacturedHomeLegalClassification_realProperty
the covered loan is secured by a manufactured home and land
the 2015 Revised HMDA regulation.
business or commercial
QName: fibo-loan-ln-ln:_MortgageLoanPurpose_BusinessOrCommercial
dwelling construction
QName: fibo-loan-ln-ln:_MortgageLoanPurpose_DwellingConstruction
home improvement
QName: fibo-loan-ln-ln:_MortgageLoanPurpose_HomeImprovement
refinance
QName: fibo-loan-ln-ln:_MortgageLoanPurpose_LoanRefinancing
mortgage modification
QName: fibo-loan-ln-ln:_MortgageLoanPurpose_MortgageModification
real property purchase
QName: fibo-loan-ln-ln:_MortgageLoanPurpose_RealPropertyPurchase
QName: fibo-loan-ln-ln:_OwnershipInterestType_feeSimple
a category indicating the highest type of ownership that a real property holder can have; it inclues the right to sell, leave to beneficiaries, make changes etc.
http://www.investopedia.com/terms/r/real-property.asp#ixzz4k7GyyR3w
fractional
QName: fibo-loan-ln-ln:_OwnershipInterestType_fractional
a category indicating that several parties can share in, and mitigate the risk of, ownership of a high-value tangible asset
https://en.wikipedia.org/wiki/Fractional_ownership
investment
QName: fibo-loan-ln-ln:_PropertyUsage_investment
a home owned for the purpose of generating income
primary residence
QName: fibo-loan-ln-ln:_PropertyUsage_primaryResidence
residence that the owner physically occupies and uses as his or her principal residence
second home
QName: fibo-loan-ln-ln:_PropertyUsage_secondHome
a property occupied by the owner for a portion of the year that is not the primary residence
bankruptcy loan
QName: fibo-loan-ln-ln:_PublicRecordCategory_bankruptcy
covil or judgement
QName: fibo-loan-ln-ln:_PublicRecordCategory_civilOrJudgement
foreclosure
QName: fibo-loan-ln-ln:_PublicRecordCategory_foreclosure
garnishment
QName: fibo-loan-ln-ln:_PublicRecordCategory_garnishment
lien
QName: fibo-loan-ln-ln:_PublicRecordCategory_lien
marital
QName: fibo-loan-ln-ln:_PublicRecordCategory_marital
personal property
QName: fibo-loan-ln-ln:_PublicRecordCategory_personalProperty
real estate
QName: fibo-loan-ln-ln:_PublicRecordCategory_realEstate
manual
QName: fibo-loan-ln-ln:_UnderwritingAutomation_automatic
Underwriting was performed using an automated underwriting system.
manual
QName: fibo-loan-ln-ln:_UnderwritingAutomation_manual
Underwriting was performed manually
approve
QName: fibo-loan-ln-ln:_UnderwritingDecision_approve
deny
QName: fibo-loan-ln-ln:_UnderwritingDecision_deny
eligible
QName: fibo-loan-ln-ln:_UnderwritingDecision_eligible
ineligible
QName: fibo-loan-ln-ln:_UnderwritingDecision_ineligible
refer
QName: fibo-loan-ln-ln:_UnderwritingDecision_refer
unable to determine
QName: fibo-loan-ln-ln:_UnderwritingDecision_unableToDetermine
assumes
QName: fibo-loan-ln-ln:assumes
relates a new mortgage loan contract to a previous one made to a different borrower for the same property. The new contract is created via a legally binding process where the new borrower assumes the terms of the previous loan contract
has appraisal management company
QName: fibo-loan-ln-ln:hasAppraisalManagementCompany
relates something to an independent entity through which mortgage lenders order residential real estate valuation services for properties on which they are considering extending loans to homebuyers, as required by US law
Broaden to beyond US only.
Investopedia
has appraised value
QName: fibo-loan-ln-ln:hasAppraisedValue
relates to a monetary amount that is the product of a valuation event
This should be a subproperty of the property that ties a Valuation to a MonetaryAmount.
has approved amount
QName: fibo-loan-ln-ln:hasApprovedAmount
relates, e.g. a loan, to the amount of funds approved
has balloon payment
QName: fibo-loan-ln-ln:hasBalloonPayment
whether the contractual terms include or would have included a balloon payment as defined in Regulation Z, 12 CFR 1026.18(s)(5)(i).
the 2015 Revised HMDA regulation.
has closing date
QName: fibo-loan-ln-ln:hasClosingDate
relates, e.g. a loan contract to the date on which the contract is consummated, officially creating the obligations therein
has coverage period
QName: fibo-loan-ln-ln:hasCoveragePeriod
relates something (e.g. a credit report or insurance policy) to the specific time period that it covers
http://www.investopedia.com/terms/t/termlife.asp
hasCreditLimit
QName: fibo-loan-ln-ln:hasCreditLimit
relates to the maximum amount of funds that may be borrowed from an account (e.g. for line of credit)
has credit repoprting agency
QName: fibo-loan-ln-ln:hasCreditReportingAgency
relates something to a party which is prodiving credit report(s) e.g. needed to assess the risk of a loan
has first rate change term
QName: fibo-loan-ln-ln:hasFirstRateChangeTerm
relates a loan contract to a period of time in months after origination during which the interest rate cannot change.
the 2015 Revised HMDA regulation.
This does not apply if the loan has fixed rate.
has negative amortization
QName: fibo-loan-ln-ln:hasNegativeAmortization
whether the contractual terms include or would have included a contractual term that would cause the covered loan to be a negative amortization loan as defined in Regulation Z, 12 CFR 1026.18(s)(7)(v).
the 2015 Revised HMDA regulation.
has note amount
QName: fibo-loan-ln-ln:hasNoteAmount
relates something to an amount to be paid as specified on an executed promissory note
has number of affordable dwelling units
QName: fibo-loan-ln-ln:hasNumberOfAffordableDwellingUnits
relates real estate to the number of dwelling units it contains that are income-restricted under Federal, State, or local affordable housing programs.
the 2015 Revised HMDA regulation.
has number of dwelling units
QName: fibo-loan-ln-ln:hasNumberOfDwellingUnits
relates real estate to the number of dwelling units it contains
the 2015 Revised HMDA regulation.
has originator company
QName: fibo-loan-ln-ln:hasOriginatorCompany
relates something, typically a loan contract, to the company affilliated with the person originating the loan
has originator person
QName: fibo-loan-ln-ln:hasOriginatorPerson
relates something, typically a loan contract, to a person that initially originates or creates it
has party being checked
QName: fibo-loan-ln-ln:hasPartyBeingChecked
is a party for which a credit report is being or has been requested
has prepayment penalty term
QName: fibo-loan-ln-ln:hasPrePaymentPenaltyTerm
relates a loan contract to a period of time in months after which there is no prepayment penalty.
http://www.investopedia.com/terms/p/prepaymentpenalty.asp
A value of zero means no prepayment penalty; thi s avoids need for a separate boolean property about whether there is a prepayment penalty.
has requested amount
QName: fibo-loan-ln-ln:hasRequestedAmount
relates e.g. a request for a loan to the amount of funds requested (e.g. regarding a loan)
has senior appraiser
QName: fibo-loan-ln-ln:hasSeniorAppraiser
relates e.g. an appraisal to the appraiser with seniority or supervisory responsibilities
has total closing costs
QName: fibo-loan-ln-ln:hasTotalClosingCosts
relates to he amount of total loan costs, as disclosed pursuant to Regulation Z, 12 CFR 1026.38(f)(4).
2015 Revised HMDA regulation
has total points and fees
QName: fibo-loan-ln-ln:hasTotalPointsAndFees
relates to the total amount of points and fees, expressed in dollars, calculated in accordance with Regulation Z, Truth in Lending.
2015 Revised HMDA regulation
is initially payable
QName: fibo-loan-ln-ln:isInitiallyPayable
whether the obligation arising from the covered loan was, or in the case of an application, would have been initially payable to the financial institution.
the 2015 Revised HMDA regulation.
This property can be used on either a contract or an application.
This property is not applicable for a purchased loan.
is inspection of
QName: fibo-loan-ln-ln:isInspectionOf
relates an inspection to the thing being inspected
is interest only
QName: fibo-loan-ln-ln:isInterestOnly
whether the contractual terms include or would have included interest only payments as defined in Regulation Z, 12 CFR 1026.18(s)(7)(iv).
the 2015 Revised HMDA regulation.
is pre-approval requested
QName: fibo-loan-ln-ln:isPreApprovalRequested
whether a pre-approval has been requested, in conjunction with a loan application
uses factor
QName: fibo-loan-ln-ln:usesFactor
relates e.g. a risk assessment to something used as a factor to make the assessment.
There is intentionally no range for this property, so as not to limit what can be used as a factore. Often it will be a measure such as borrower monthly income. Thus, having a class called Factor seems unhelpful.