Yes; data field Exp. ‘1’ – Rate Locked IMIP Paid By Integer followed by decimal(2); IMIP pay method Yes 18 Borrower Must be >= $0.00 and <= IMIP Total Integer; = Line of Credit; ’10’ = Term; ‘20’ Pay Plan Type of Payment = Tenure; Yes 19 ‘30’ Type Plan = Modified Term; ‘40’ = Modified Tenure; ‘50’ Lump Sum; ‘60’ – Conditional; Pay Plan # of monthly Integer; if Pay Plan is 20 Term payments Range > and <= Term or ‘0’ ‘480’ months; Modified Term The monthly payment amount scheduled to be made to the Conditional; borrower each if Pay Plan is Monthly month. Integer followed by decimal(2); Term, Tenure, Payment Note: The Monthly 21 Range >= and <= Modified Term ‘0.00’ ’25,000.00’; Amount Tax and Insurance or Modified Withheld amount Tenure should NOT be deducted from this amount Conditional; The amount set Integer followed by decimal(2); if Pay Plan is Monthly Tax aside monthly for Range >= and <= Term, Tenure, ‘0.00’ ’25,000.00’; & Ins. taxes and insurance 22 Must be < =Monthly Payment Modified Term Withheld on the loan Amount; or Modified Tenure Date(10); Conditional; Format: YYYY-MM-DD; if Pay Plan is First First payment date Must be > Funded Date; Term, Tenure, Payment 23 to HECM Mortgagor Funded Date must be <= 30 days Modified Term Date from Closing Date; or Modified Tenure Integer followed by decimal(2); Amount paid to Fixed or Annual Rate Type >=‘0.00’ Monthly Servicer / Lender for and <= Yes 24 ‘30.00’; Service Fee servicing the loan Monthly Rate Type and <= >=‘0.00’ ’35.00’; Integer followed by decimal(2); Must be <= FHA Loan Limit and < Original Original Principal Max Claim Amount’ ; Principal Yes 25 limit amount For HECM purchase transactions Limit only, the maximum claim amount will be the least of: 1) the appraised value;
‘1’ – Yes; data field Exp. Rate Locked IMIP Paid By Borrower IMIP pay method Integer followed by decimal(2); Must be >= $0.00 and <= IMIP Total Yes 18 Pay Plan Type Type of Payment Plan Integer; ’10’ = Line of Credit; ‘20’ = Term; ‘30’ = Tenure; ‘40’ = Modified Term; ‘50’ = Modified Tenure; ‘60’ – Lump Sum; Yes 19 Pay Plan Term # of monthly payments Integer; Range > ‘0’ and <= ‘480’ months; Conditional; if Pay Plan is Term or Modified Term 20 Monthly Payment Amount The monthly payment amount scheduled to be made to the borrower each month. Note: The Monthly Tax and Insurance Withheld amount should NOT be deducted from this amount Integer followed by decimal(2); Range >= ‘0.00’ and <= ’25,000.00’; Conditional; if Pay Plan is Term, Tenure, Modified Term or Modified Tenure 21 Monthly Tax & Ins. Withheld The amount set aside monthly for taxes and insurance on the loan Integer followed by decimal(2); Range >= ‘0.00’ and <= ’25,000.00’; Must be < =Monthly Payment Amount; Conditional; if Pay Plan is Term, Tenure, Modified Term or Modified Tenure 22 First Payment Date First payment date to HECM Mortgagor Date(10); Format: YYYY-MM-DD; Must be > Funded Date; Funded Date must be <= 30 days from Closing Date; Conditional; if Pay Plan is Term, Tenure, Modified Term or Modified Tenure 23 Monthly Service Fee Amount paid to Servicer / Lender for servicing the loan Integer followed by decimal(2); Fixed or Annual Rate Type >=‘0.00’ and <= ‘30.00’; Monthly Rate Type >=‘0.00’ and <= ’35.00’; Yes 24 Original Principal Limit Original Principal limit amount Integer followed by decimal(2); Must be <= FHA Loan Limit and < Max Claim Amount’ ; For HECM purchase transactions only, the maximum claim amount will be the least of: 1) the appraised value; Yes 25
HECMB2GUPRECLAY0917.DOCX