New FIB-DM Banking packages and entities arriving in 2020

For Retail and Commercial Banks, LOANS with 300 new entities is the most anticipated addition to the Financial Industry Business Ontology (FIBO) and the Financial Industry Business Data Model (FIB-DM).

FIBO Development version

The data model may have more than Four Thousand Entities. The chart analyses the latest, FIBO Development (DEV) November 23 download. The pie slices are FIBO modules and their number of entities. The pie in the pie breaks out the new 2020 modules.

Pie in pie chart of new FIB-DM packages and entities for 2020
FIB-DM 2020 new packages and entities

The EDMC FIBO DEV has 3952 entities, double the current PROD number. Five new ontology modules, Loans, Business Processes, Collective Investment Vehicles (Funds), Corporate Actions, and Market Data introduce 1179 new entities. FIB-DM extended, the commercial version adds FIBO modules once they are in Production (no Dev version, sorry). Licensees with a maintenance contract receive new FIB-DM downloads. The numbers do not include associative FIB-DM entities derived from new object properties. The EDMC has a rigorous QA and review process to promote modules into production. The FIBO development team depends on member Financial Institutions to provide subject matter and ontology experts. There is no guarantee when these modules make production and add to FIB-DM.

Loan Package

The new Loan package has 301 entities. Sub packages Loan Core & Mortgage and Extended provide the framework. Loan temporal covers origination, status, and payments. Loan Types defines subtype entities for retail and commercial loans.

FIB-DM Loan Entities stacked column chart
FIB-DM Loan Entities stacked column chart

Loans is part of the extended, full model version. See the differences between core and full version on the FIB-DM upgrade page.

Loan

The main package for sub packages supporting Collateral, Guarantees, Basic Terms, Parties, and Regulatory aspects.

Collateral

Entities in this package describe the concept of loan collateral and loan property collateral in the context of collateralized securitized loans.

Guaranties

This package defines various kinds of guaranty for different kinds of loans, along with the concept of a loan guarantor. These include mortgage loan related guaranty terms.

Basic Loan Terms

This is the core package for loan entities. These include loan purposes, loan payment terms, and parties.

Loans Parties

Entities in this package define the parties to a loan, including borrowers and third parties such as collateral providers and loan servicers.

Loans Regulatory

This package contains entities relating to regulatory requirements around loans, including disclosure rights and a small number of regulation-specific concepts. These include definitions of rights conferred on borrowers under consumer protection law, rights to equal treatment and the like.

Loan Core & Mortgage

The main package for core and mortgage-related sub-packages.  Entities in the sub-packages define the loan contract and the US Home Mortgage Disclosure Act (HMDA) support.

Loan Core Ontology

This package defines the fundamental concepts for loans, with emphasis on mortgages.  The loan contract is the core concept. It 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 borrowers, lenders, and originators.  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.

Loan HMDA Ontology

This package defines entities specific to the HMDA rule. This includes the concept of an HMDA report as well as specializations of the core classes for pre-approval requests, covered loan contracts.
The Home Mortgage Disclosure Act (HMDA) is US regulation.

Loan Extended

The main package for LN extensions. The current development packages LN, LNX, and Loan are likely to be reorganized in Production

Loans General

This package contains a small number of additional entities for general loan terms. These are mainly based on lists of values such as income verification methods, risk levels, and documentation types, as referred to in the loan application process.

Loan Generic Ontology

This ontology defines a number of concepts that are not specific to a loan and belong in more general FIBO ontologies. They are in the process of being moved over. This ontology will eventually go away.

Loan Temporal

The main package for temporal aspects such as loan status, phases, and events. Sub packages are for  Loan Applications, Appraisal, Borrowers, Construction Loans, Collateral, Events, LTV, Phases, Status, and temporal.

Loans Temporal core

Loan concepts with a date or time component. For example, amounts outstanding, loan balances and interest rates at a given point in time.

Loan Applications Temporal

The package defines entities for the loan application process, including the temporally sensitive concept of loan phases, along with kinds of the loan application and the parties thereto.    These concepts include mortgage loan applications, which will need to be integrated with the HMDA-based work in Loan Contracts.

Loans Appraisal

Entities relating to the appraisal of a loan, including mortgage borrower assessment information and repossession history.

Loan Borrowers Temporal

The package provides temporally sensitive entities elating to loan borrowers themselves, including such concepts for different kinds of the borrower (corporate and personal). These include things like credit statuses, payment history, and facts about the borrower at assessment and at other times.

Construction Loans Temporal

Temporally sensitive concepts relating to construction loans.    At present The package simply defines the basic concept of a snapshot in time for a construction loan. Additional details will need to be added.

Loan Collateral Temporal

The package covers date-sensitive facts about the collateral provided for a collateralized loan, including security collateral.

Loans Events

The package defines a wide range of events relating to loans. These include legal proceedings, prepayments, events affecting the collateral such as valuation, purchase, and sale and details of many of these concepts.    Note that most of this material was derived from an earlier EDMC activity with IBM Research and is substantively based on a logical data model from that exercise.

Loans LTV

The package defines the concept of a loan to value (LTV) ratio, including both the original LTV at application and the same concept as a variable over time.

Loan Phases

Entities in this package define the phases in the life of a loan, including delinquent loans, up to the point where the loan is repaid.    Future integration of this work should be based on the lifecycle concept, in the same way as product lifecycles.

Loans Status

The package defines the kinds of status that a loan may be in at various stages in its lifecycle, based on the more general temporal concept of statuses. These include the statuses of legal proceedings, of loan performance, of prepayment, and of the loan itself, e.g., active or in arrears.

Loan types

The main package for loan types. Loan types are Construction Loans, Commercial Loans, Credit Products, General Loans, Mortgage Loans, Personal Loans, Loan Products, Student Loans, Secured and Unsecured Loans. The package is a folder for sub-packages and doesn’t contain entities.

Construction Loans

Construction loans are loans in name only, in that the concept referred to as a construction loan is effectively a credit facility, with separate draw-downs (loans as defined in these ontologies) being enabled upon evidence of completion of agreed stages of the construction project,    Note that for completion this ontology will need to be extended with a number of project management concepts describing the parameters of the construction project that are referred to in the contract for this facility. Some basic project management terms such as milestones are already included but will need framing within more foundational concepts for project management.

Commercial Loans

Commercial loans are loans where the loan purpose is some commercial purpose. Note that these are distinguished by the loan purpose, not by the borrower type – borrowers may be corporate or personal, though in the majority of cases they would also be corporate loans that are loans with a corporate borrower.

Credit Products

Terms specific to the existence and extension of credit. Includes terms like home equity lines of credit which may be referenced in asset-backed securities. It also includes credit card facilities.

General Loans

This ontology is for different kinds of general loans such as motor loans and marine finance.   Other types of general loans such as those for motorhomes or other specified purposes would also go in this ontology, which is not complete.

Mortgage Loans

Loans that have collateral posted as security and where that collateral is real estate and the real estate which makes up the collateral is purchased with the funds loaned. This ontology covers a range of mortgage concepts and parties, along with categories of mortgage loan purpose (remortgage, second home, etc.)   Note that much of the material in this ontology will also have been covered in the separate Loan Contracts module, and is to be integrated. The terms here are not intended not to be specific to US mortgage loans or HMDA reporting but are more general.

Personal Loans

Loans where a borrower is a natural person.

Loan Products

The ontology describes loan and mortgage loan products. A product as defined here is something marketed and offered for sale, in this case, a loan, such that when a customer takes on the product, they become signatories to a corresponding loan contract. A loan product in this sense is a contractual, off-the-shelf product with terms corresponding to those in the actual contract when it is signed.   Note that considerable work has been done on products to support a separate loan product concept in the HMDA-derived Loan Contracts module, so this work now needs integrating with that or deprecating

Secured Loans

This package provides entities relating to secured loans. All loans are either secured or unsecured, and secured loans are secured either by collateral or by the guaranty. This ontology covers these core concepts, so that mortgage loans, where the collateral is more specific, can be built on to of this. These concepts may not be needed for stand-along application-specific ontologies for mortgage lending as the concepts here provide the abstractions for the definition of mortgage loan concepts and differentiates them from other categories of loan. These intermediate abstractions may or may not be presented in the separate Loan Contracts module for mortgage loans.

Student Loans

A loan or series of loans made for the purposes of study at some institution of learning.   This ontology and much of the common supporting information on loan applications are based on extensive review and input from Sallie Mae in the US, and there may be other variants of student loans that are not covered here. For example, in principle, a student loan may be framed as a credit facility in some arrangements and as a single loan with separate payment phases in others.

Unsecured Loans

This package is a companion to the Secured Loans package and defines loans for which there is no security, either as a guaranty or as collateral.    Note that for most applications this ontology would not be needed. It is provided in order to provide a conceptually complete account of the kinds of loans there might be. While most people would not lend on this basis, the concept still exists.

Loan Entities spreadsheet

The report shows the module, Entity code, name, and definition. Click “View full-size workbook” or download the MS-Excel file.


Below is a report of new Loan Package Entities expected in 2020.

This report is a list of named classes in the FIBO Development Loan module.

Entity CodeNameDefinition
fibo-loan-tem-sta:ActiveLoanStatusActive Loan StatusStatus of a Loan which is in the Disbursement phase.
fibo-loan-ln-ln:AllBorrowersMonthlyIncomeAll Borrowers Monthly Incometotal monthly qualifying income for all borrowers on the loan
fibo-loan-ln-ln:AmortizationScheduleAmortization Schedulea schedule which specifies changes in the scheduled balance of loan principal over time
fibo-loan-ln-ln:AmortizationTypeAmortization Type
fibo-loan-tem-bor:ArrearsPaymentHistoryArrears Payment HistoryHistorical information about payment of arrears by the entity.
fibo-loan-typ-gen:AutoLoanAuto LoanA loan specifically for the purpose of automobile purchase.
fibo-loan-typ-gen:AutoLoanContractAuto Loan Contract
fibo-loan-loan-loan:AutoLoanPurposeAuto Loan Purpose
fibo-loan-ln-ln:AutomatedUnderwritingSystemAutomated Underwriting Systema software sytstem that produces loan underwriting decisions
fibo-loan-loan-pty:AVMProviderAVM ProviderParty which is the Provider of an AVM Valuation.
fibo-loan-loan-reg:BorrowerDataProtectionRequirementBorrower Data Protection Requirement
fibo-loan-loan-reg:BorrowerDisclosureRequirementBorrower Disclosure Requirement
fibo-loan-ln-ln:BorrowerMonthlyIncomeBorrower Monthly Incometotal monthly qualifying income of the potential borrower
fibo-loan-tem-bor:BorrowerOngoingDatedFactsBorrower Ongoing Dated FactsOngoing information about the borrower.
fibo-loan-loan-reg:BorrowerRightBorrower Right
fibo-loan-loan-loan:BridgingLoanPurposeBridging Loan Purpose
fibo-loan-ln-ln:CashOutStatusCash Out Statusa category indicating the extent to which funds are released to the borrower on a new loan origination that is  refinancing an existing loan
fibo-loan-lnx-lgn:ChargeCategoryCharge Categorya category indicating what a charge is for (e.g. closing costs, interest)
fibo-loan-ln-ln:ClosedEndLoanContractClosed End Loan Contracta loan contract that has an amount borrowed for a fixed amount of time, and is not considered open ended
fibo-loan-tem-col:CollateralDatedFactsCollateral Dated FactsWhat information is kept about different kinds of asset? Example: HJouse: Building structure, the land (these are non date facts), quality of the title. If car, information, identify (registration, VIN etc.); insurance and so on. Insurance is a dated fact. If a car is collateral., you would collect updated information on an ongoing basis. this happens though registering an interest in the vehicle. Insurance companies undertake not to cancel insutrance without notifying lender if there is a lein. so they regfister an interest in a motor vehicle. so some of this event driven, some is dated, some is static. Also: Flood plain risk, flood insurance on the asset.
fibo-loan-loan-pty:CollateralProviderCollateral ProviderParty which provides collateral for the Loan.
fibo-loan-typ-sec:CollateralizedSecuredLoanCollateralized Secured LoanLoan in which some asset is provided as collateral to the loan.
fibo-loan-typ-mtg:CombinationMortgageCombination Mortgage
fibo-loan-ln-ln:CombinedLTVRatioPercentCombined LTV Ratio Percentthe ratio of the total amount of debt that is secured by the property to the value of the property relied on.
fibo-loan-typ-com:CommercialLoanCommercial LoanLoan extended for a commercial purpose. Further notes: Commercial Loans: Talk about property like office building. Borrower is a small business or corporation. Meanings: Loan extended for a commercial purpose versus Loan extended to a corporate entity Example: Aus: Nature of security e.g. private property versus commercial property being pledged as security, as there are different requirements on these. Also legislation on commercial lending by governments (business strategy etc.).
fibo-loan-typ-com:CommercialLoanBorrowerCommercial Loan BorrowerThe borrower of a Commercial Loan
fibo-loan-ln-ln:CommitmentToFundCommitment To Funda commitment that obliges the lender to provide funds pursuant to a loan contract
fibo-loan-ln-ln:CommitmentToPayCommitment To Paya commitment obliging one party to make a payment to another party (e.g. to fund a loan, make payments, pay origination fees)
fibo-loan-ln-ln:CommitmentToRepayCommitment To Repaya commitment obliging the borrower to repay funds that have been loaned, in a manner pursuant to a loan contract
fibo-loan-ln-ln:CommitmentToReportCommitment To Reporta commitment obliging a party to deliver a report
fibo-loan-typ-mtg:ConstructionConstruction
fibo-loan-typ-cl:ConstructionLoanConstruction Loan
fibo-loan-typ-cl:ConstructionLoanContractConstruction Loan Contract
fibo-loan-typ-cl:ConstructionLoanCreditFacilityTrancheConstruction Loan Credit Facility TrancheA loan taken out for construction purposes. Further notes: These are a temporary loan. when the construction is finished then that loan is transformed to another loan, which would be a permanent loan. Information to follow on what the new permanent loan would be. Terms are adjusted in the new loan, since in construction loans the rates are significantly higher. This is an incentive to complete the construction works. Notes from PoC reviews, discussing Maximum Balance concept: In a Construction Loan you agree a maximum amount that you could draw. As you progress with the construction you continue to draw more and more. So you start with the minimum. Example: for purpose of construction of a house you could need to borrow up to 500K and the bank establishes the milestones at which certain amounts are made availalbe and can be drawn. For instance prior to start you might draw 10%, (50K); the next 50K would be available to draw only once the foundations are laid. And so on. Milestones may include “Frame standing” (for American-style frame based houses). Each stage requires inspection on behalf of the bank. So you are starting with no more than 10% (in this example) of what is allowable, and could arrive to the full 500K by the end of ths construction but it is not mandated that you arrive to that. What differentiates a Construction Loan is that there si a max amount specified and there are Milestones specified in which the amounts for each milestone can be advanced.
fibo-loan-typ-cl:ConstructionLoanMilestoneTermsSetConstruction Loan Milestone Terms SetAn agreed point at which an amount is advanced to the lender on completion of some pre-agreed scope of works on the construction.
fibo-loan-loan-loan:ConstructionLoanPurposeConstruction Loan Purpose
fibo-loan-tem-cl:ConstructionLoanSnapshotConstruction Loan SnapshotInformation at a point in time, specific to a Construction Loan.
fibo-loan-ln-ln:ConstructionTypeConstruction Typea particular kind of construction
fibo-loan-loan-reg:ConsumerCreditEqualTreatmentRequirementConsumer Credit Equal Treatment Requirement
fibo-loan-loan-reg:ConsumerCreditProtectionLawConsumer Credit Protection Law
fibo-loan-loan-reg:ConsumerCreditReferenceAgencyConsumer Credit Reference AgencyApplicable regulations: vary by jurisdiciton. for example, only being allowed ot divulge actual judgements against a party, but not things that are not substantiated by judgements. For example, slow payments which are not covered by some judgement against the party. There will be different regulatory requirments about: 1. What the CR Agency can hold 2. Who they can divulge it to 3. What information they must provide the borrower at his/her request Some of the third thing there is covered in the EU the Data Protection Directive and local acts that implement this.
fibo-loan-loan-reg:ConsumerCreditRequirementConsumer Credit RequirementRequirement set out on the lender about how they must treat the appliction to a loan
fibo-loan-loan-reg:ConsumerProtectionAgencyConsumer Protection AgencySome agency tasked with regulating consumer protection in some jurisdiction.
fibo-loan-loan-reg:ConsumerProtectionLawConsumer Protection Law
fibo-loan-loan-reg:ConsumerRightConsumer Right
fibo-loan-lnx-lgn:ContactInformationContact Informationa way to make contact with a person or organization for a particular reason regarding something.  The details may be role-specific, so the information cannot always go on the individual or organization
fibo-loan-lnx-lgn:ContactPurposeContact Purposea virtual address for communication via phone
fibo-loan-typ-com:CorporateBorrowerCorporate BorrowerA borrower which is a Corporation.
fibo-loan-tem-bor:CorporateDatedFactsCorporate Dated Facts
fibo-loan-tem-bor:CorporateLoanBorrowerAssessmentInformationCorporate Loan Borrower Assessment Information
fibo-loan-loan-pty:CosignerCosignerSomeone who commits to fulfil the obligations of the Borrower in the event that the Borrower defaults on the loan.
fibo-loan-tem-ev:CountyCourtCounty Court
fibo-loan-tem-ev:CountyCourtJudgmentCounty Court JudgmentSatisfaction code associated with a county court judgement can have values satisfied/unsatisfied. This is a value changing event.
fibo-loan-typ-cr:CreditCardCredit Card
fibo-loan-loan-loan:CreditCardReceivablePurposeCredit Card Receivable Purpose
fibo-loan-ln-ln:CreditEvaluationProductCredit Evaluation Producta particular kind of credit evaluation
fibo-loan-ln-ln:CreditInquiryCredit Inquirya request from a lender to a credit repository to obtain information regarding a prospective borrower’s creditworthiness
fibo-loan-ln-ln:CreditInquiryTypeCredit Inquiry Typea category indicating whether a credit inquiry is a result of a borrower’s direct authorization or by some indirect means
fibo-loan-ln-ln:CreditMessageCredit Messagea textual annotation on a credit report to notify a reviewer of special or exceptional information
fibo-loan-ln-ln:CreditMessageTypeCredit Message Typea particular kind of credit message
fibo-loan-loan-reg:CreditReferenceAgencyRequirementsCredit Reference Agency RequirementsREquirements other than data protection, governing what a credit reference agency can or cannot do.
fibo-loan-ln-ln:CreditReportCredit Reporta report describing the creditworthiness and related credit attributes of a borrower.
fibo-loan-ln-ln:CreditReportCategoryCredit Report Categorya particular kind of credit report, often available from multiple vendors
fibo-loan-ln-ln:CreditReportProductCredit Report Producta specifically branded credit report offered in the market place
fibo-loan-ln-ln:CreditReportRequestCredit Report Requestthe act of requesting a credit report from a credit report provider
fibo-loan-ln-ln:CreditReportResponseCredit Report Responsethe act of responding to a credit report request
fibo-loan-ln-ln:CreditReportingAgencyCredit Reporting Agencyan organization that provides credit reports
fibo-loan-ln-ln:CreditRepositoryCredit Repositorya credit reporting agency that is a clearinghouse for information on the credit rating of individuals or firms
fibo-loan-ln-ln:CreditRiskAssessmentCredit Risk Assessmenta risk assessment that focuses on determining the likelihood of a potential borrower repaying a loan
fibo-loan-ln-ln:CreditScoreCredit Scorea quantitative measure or category that results from a credit evaluation model
fibo-loan-ln-ln:CreditScoreCategoryCredit Score Categorya credit score that is a qualitative measure
fibo-loan-ln-ln:CreditScoreFactorCredit Score Factorsomething that is taken into account when determining a CreditScore
fibo-loan-ln-ln:CreditScoreModelCredit Score Modelan algorithm for computing the credit score of e.g. a credit applicant
fibo-loan-ln-ln:CreditScoreModelTypeCredit Score Model Typea type corresonding to a family of credit scoring algorithms sharing common characteristics
fibo-loan-ln-ln:CreditScoreNumberCredit Score Numbera credit score that is a quantitative measure
fibo-loan-ln-ln:CreditTradeLineCredit Trade Linean information product derived from the transaction history of a credit account
fibo-loan-tem-ltv:CurrentLTVCurrent LTV
fibo-loan-loan-loan:CurrentPrincipalBalanceApplicabilityCurrent Principal Balance Applicability
fibo-loan-loan-loan:CurtailmentAmountApplicabilityCurtailment Amount Applicability
fibo-loan-loan-reg:DataProtectionRequirementData Protection RequirementRequirements defining how data about individuals is held. Example is the EU DA directive and laws, which make the data the property of the individual that data is about. Covers – what information i sheld – who information can be divulged to. – the individual’s rights in respect of that information Privacy regulations cover most of this. EU defines “Personal Data” and “Sensitive Personal Data”. For credit reference agencies the latter would be covered. More detail about whether they can divulge facts which are not subject to formal judgements etc.
fibo-loan-tem-ev:DateOfPurchaseDate Of Purchase
fibo-loan-typ-mtg:DebtConsolidationDebt Consolidation
fibo-loan-tem-ev:DefaultProceedingTypeSelectionDefault Proceeding Type Selection(1) Default amount (2) Property Sale (3) Loss amount (4) Recoveries (5) Professional Negligence
fibo-loan-tem-ph:DeferredLoanDeferred Loan
fibo-loan-tem-bor:DelinquencyBorrowerFactsDelinquency Borrower FactsFacts about the borroewr in the event of some delinquency.
fibo-loan-tem-ph:DelinquentLoanDelinquent LoanA loan which is an active loan (in Repayment phase), which is in default.
fibo-loan-tem-ph:DisbursedLoanDisbursed Loan
fibo-loan-loan-reg:DisclosureRequirementDisclosure RequirementRequirement for disclosure to borrowers or potential borrowers. There are two kinds of disclosure requirement: 1. Disclosure about the information held on the borrower 2. Disclsure about the product.
fibo-loan-loan-loan:DrawingRightsPurposeDrawing Rights Purpose
fibo-loan-ln-ln:DwellingCapacityDwelling Capacitya category indicating how many dwellings some property has
fibo-loan-lnx-lgn:EmailAddressEmail Addressa virtual address for communication via email
fibo-loan-tem-bor:EmploymentStatusEmployment StatusPossible employment statuses for adult human beings.
fibo-loan-loan-reg:EqualTreatmentRightEqual Treatment RightThe right to equal treatment under the law.
fibo-loan-typ-mtg:EquityReleaseEquity Release
fibo-loan-ln-ln:EthnicityEthnicitya category based on a cultural factors, including nationality, regional culture, ancestry, and language
fibo-loan-loan-reg:GoodFaithEstimateGood Faith EstimateGFE – representation by the lender on the costs and implications of settlement (early termination) of the loan.
fibo-loan-typ-mtg:GovernmentSponsoredLoanGovernment Sponsored Loan
fibo-loan-typ-sec:GuaranteedLoanGuaranteed LoanLoan secured by guaranty.
fibo-loan-ln-hmda:HMDA_CoveredLoanContractHMDA_Covered Loan Contracta closed-end mortgage loan or open-end line of credit that is not an excluded transaction for HMDA reporting under US section 1003.3(c) of the Revised Home Mortgage Disclosure Act of 2015
fibo-loan-ln-hmda:HMDA_DispositionHMDA_Dispositiona type of action taken regarding an application for a HMDA covered loan
fibo-loan-ln-hmda:HMDA_PreApprovalRequestHMDA_Pre Approval Requesta request for pre-approval of a home purchase loan up to a certain amount, and subject to certain non-credit related conditions
fibo-loan-ln-hmda:HMDA_ReportHMDA_Reporta report prepared to satisfy HMDA regulatory reporting requirements as described US section 1003.3(c) of the Revised Home Mortgage Disclosure Act of 2015
fibo-loan-typ-cr:HomeEquityLineOfCreditHome Equity Line Of CreditA credit line on a house or other property, that can be drawn down and/or paid back by the borrower.
fibo-loan-typ-cr:HomeEquityLineOfCreditContractHome Equity Line Of Credit ContractA credit line on a house or other property, that can be drawn down and/or paid back by the borrower.
fibo-loan-typ-cr:HomeEquityLineOfCreditTrancheHome Equity Line Of Credit Tranche
fibo-loan-loan-loan:HomeEquityLoanPurposeHome Equity Loan Purpose
fibo-loan-ln-ln:HowSubmittedHow Submitteda category indicating whether the applicant or borrower submitted the application for the covered loan directly to the reporting financial institution
fibo-loan-tem-ph:InDefaultLoanIn Default LoanFormal notice served.
fibo-loan-lnx-gen:IncomeVerificationMethodSelectionIncome Verification Method SelectionSelection of possible methods by which borrower’s income was determined.
fibo-loan-lnx-lgn:IndividualContactInformationIndividual Contact Informationcontact information for an individual
fibo-loan-tem-bor:IndividualPersonCreditRatingIndividual Person Credit Ratingwas Borrower Credit Rating
fibo-loan-lnx-lgn:InformationProductInformation Producta product that is informational in nature, rather than physical
fibo-loan-loan-reg:InformationRightInformation RightThe right to some information in some context, for example when purchasing some product. The right to full and fair disclosure of
fibo-loan-tem-ev:InformativeEventInformative EventAn event which reflects some change in information about something.
fibo-loan-typ-mtg:InvestmentHomeLoanInvestment Home LoanA loan for a second or subsequent property which is taken out for investment purposes.
fibo-loan-typ-mtg:InvestmentHomeLoanContractInvestment Home Loan ContractA loan for a second or subsequent property which is taken out for investment purposes.
fibo-loan-typ-mtg:InvestmentMortgageInvestment Mortgage
fibo-loan-loan-pty:JointBorrowerJoint BorrowerAny additional borrower(s) whose name(s) appear on loan documents and whose income and credit history are used to qualify for the loan. Under this arrangement, all parties involved have an obligation to repay the loan. For mortgages, the names of applicable joint borrowers also appear on the property’s title.
fibo-loan-tem-ev:LegalProceedingLegal Proceeding
fibo-loan-tem-sta:LegalProceedingStatusLegal Proceeding StatusThe status of some legal proceeding at some point in time.
fibo-loan-tem-sta:LegalProceedingsStatusSelectionLegal Proceedings Status SelectionThe status of any legal proceedings.
fibo-loan-ln-ln:LenderLienPositionLender Lien Positiona category indicating whether the lender has the primary lien position
fibo-loan-loan-reg:LenderRightLender RightRights on the lender to protect them against loss. furthe rNtoes: Logically, considering the two parties, they both have protecxtion mechanisms. so while the lender has protecxtion mechanisms through mortgage insurance, and the consumer has protextion mechanisms such as good faith estimates. also the agencies (see Consumer Protection Agency), an instance of which is the CFPB in the US (just set up). Lender rights are: – expressed in the Contract Consumer protection develops becaues the contract is written by the potential Lender. So the rights are introcued to rectify the imbalance between the two parties. Same goes for insurance. consumer protection laws (governe dby the relevant consumer protection agency. So the lender protexts itself as it writes th contract AND does the things it needs to do to protext itself, but on the approval process, and with later instruments such as insurance. Interestingly., it is the Borrower who pays for this by paying for credit reports etc. So the borrower protects itself by other mechanisms. Caveat emptor – displaced by regulation (the buyer is protected by regulation). Uberimae Fidae – in the utmost good faith. Mortgage Insurance is an additional means of mitigating the risk, that the lended may have., so if the information assessed is not accurate, or if the borrower’s situation changes for the worse. then the risk rating may go down. So the Mortgage Insurance is a further strategy which mitigates any shortfall in the Lender Righrs that you may have – ie someone guarantees. In the US you can also avoid that by having paid a deposit. PIMI: Principal, Interst and Morgage Insurance. So the Borrower pays towards the MI, esxcept if they have paid a given amount as deposit. there are 2 types of MI: 1. protects the lender in the event of borrower degault 2. Insurance for “Incapacity to pay the mortage” (these can be bought off the shelf – can combine health, unemployment etc.). – this is the Borrower mitigating their own risk. Prevents foreclosure. Similar to general sickness etc. Where the lender charges for MI, the cost is passed onto the Borrower. e.g. if there is a % valuation (e.g. 70% in Aus, 80% in US for example) then no insurance is required.
fibo-loan-loan-gty:LimitedGuarantyLimited GuarantyA guaranty which is given up to a given amount or proportion of the loan. Generally specified as a monetary amount and is specified by the lender, so the bank may say 75% of valuation and they only have 60% of valuation available, to an additional limited guaranty would cover the missing 15% up to the point where the primary borrower’s equity would meet the standard conditions of the loan. At that point the limited guaranty ceases.
fibo-loan-lnx-lgn:LineItemLine Itema description of a product or service including its unit cost, number of units and total cost
fibo-loan-tem-app:LoanApplicantLoan Applicant
fibo-loan-ln-ln:LoanApplicationLoan Applicationa request by a potential borrower to a potential lender to borrow money containing information used to decide whether to grant the loan
fibo-loan-tem-app:LoanApplicationAtAgreementStageLoan Application At Agreement Stage
fibo-loan-tem-app:LoanApplicationAtDisbursementStageLoan Application At Disbursement Stage
fibo-loan-tem-app:LoanApplicationBorrowerAssessmentInformationLoan Application Borrower Assessment InformationInformation about the borrower in relation to the loan. Specifically this is a bundle of information whose purpose is to identify the borrower and to assess their ability to pay (credit worthiness etc.)
fibo-loan-tem-app:LoanApplicationPhaseLoan Application Phase
fibo-loan-tem-app:LoanApplicationStatusLoan Application Status
fibo-loan-tem-app:LoanAppraiserLoan AppraiserThat party which appraises the borrower for the purposes of the loan.
fibo-loan-tem-sta:LoanArrearsStatusLoan Arrears StatusArrears describes the whole period where a loan is either delinquent or in default. [mixed bag of types of Status] formerly Loan Status. Now: The status of arrears performance at any given time in the life of the loan (e.g. present, series of dated past values).
fibo-loan-tem-app:LoanAtApplicationStageLoan At Application Stage
fibo-loan-tem-tem:LoanBalanceLoan BalanceThe outstanding balance on a loan at a particular point in time.
fibo-loan-tem-tem:LoanBalanceDeterminationLoan Balance Determination
fibo-loan-tem-tem:LoanBalanceRecordLoan Balance Record
fibo-loan-loan-pty:LoanBorrowerLoan BorrowerThe Borrower of the Loan. This is the party which draws down the offered credit in the form of a loan under conditions agreed in the Loan Contract to which the Borrower is party.
fibo-loan-loan-loan:LoanBorrowerCommitmentLoan Borrower CommitmentThe commitment of a given borrower to be a borrower and to repay this loan.
fibo-loan-loan-col:LoanCollateralLoan CollateralAssets pledged to a lender until a loan is repaid. Further notes: This provides one means by which some extension of finance (such as a loan, debt or equity issue) is under-written. PoC equivalent term definition and note: Collateral is property collateral or additional collateral associated with a loan or mortgage loan (PoC data note) There are foreign key attributes of collateral coupling it to collateral provider and to loan.
fibo-loan-loan-col:LoanCollateralAgreementLoan Collateral AgreementContract in which the borrower of a collateralized securied loan agrees the terms on which the collateral is made available to the Lender.
fibo-loan-loan-loan:LoanConditionsLoan ConditionsConditions which must be met by the Borrower during the course of the loan. Breach of these conditions will have predetermined consequences.
fibo-loan-ln-ln:LoanContractLoan Contractan 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
fibo-loan-tem-ev:LoanDefaultProceedingLoan Default Proceeding[no definition] Further Review This is typically part of mortgagte servicing. THere would typically be a whole department dealing with this. Dealing with default, helping borrowers make payment Collections Default admin Foreclosure Reselling All dealt with by several sub departments. This requires subject matter experts in this area. 1. scoping Identify default as a possible state. This hands off to other business processes. Once you get into the default scenario we are talking about a proces that is going to fall into place over a period of time. The bank works out what to do with the default scenario, e.g. whether it restructures, forecloses, seeks restitution from the security (collateral). It does nto help us to understand the structure of the loan, rather tha consequences of the loan. If we were to further explore the default detail we would bring in other SMEs. And we would have to model a process flow. 1.1 impact on the pool of an MBS Loan Default Proceeding (special ase of legal thing) is an aspect of Default Management / Administratoin. there is also the State of the Loan. Sale / something / fulfilment / fiunduing / approved = servicing mode. Something happens (non payment) => Default Grace Period followed by negotiation. Some threshold whereby after a given amount of delinquency it needs to go into some other process moving towards foreclosure. Do State Diagram. Stages of loan.
fibo-loan-tem-sta:LoanDefaultProceedingStatusLoan Default Proceeding StatusThe status of loan default legal proceeding at some point in time.
fibo-loan-tem-tem:LoanDeterminerLoan Determiner
fibo-loan-lnx-gen:LoanDocumentRiskLevelLoan Document Risk Level
fibo-loan-loan-loan:LoanDrawdownLoan DrawdownAn amount of money, drawn down by one party (the borrower) from a credit tranche made available by another party (the lender) at a specific point in time. Formal terms for the loan are defined in a Loan Contract.
fibo-loan-loan-loan:LoanEarlyPrepaymentHardPenaltyTermsLoan Early Prepayment Hard Penalty TermsEarly repayment penalty in the event of the loan being paid off without any refinancing with the same lender.
fibo-loan-loan-loan:LoanEarlyPrepaymentSoftPenaltyTermsLoan Early Prepayment Soft Penalty TermsEarly repayment penalty in the event of the loan being paid off in order to refinance with the same lender.
fibo-loan-loan-loan:LoanEarlyPrepaymentTermsLoan Early Prepayment TermsTerms governing the prepayment in full of a loan early in the life of that loan.
fibo-loan-loan-loan:LoanFixedInterestPaymentTermsLoan Fixed Interest Payment Terms
fibo-loan-loan-loan:LoanFloatingInterestPaymentTermsLoan Floating Interest Payment Terms
fibo-loan-loan-gty:LoanGuarantorLoan GuarantorGuarantor, that is the party which provides some guaranty for the loan.
fibo-loan-loan-gty:LoanGuarantyLoan GuarantyA guaranty given by some party in respect of some loan.
fibo-loan-loan-loan:LoanIdentificationSchemeLoan Identification SchemeA scheme for formal identification of loans. Further notes: May be a published, public scheme or an internal scheme. MAy not be a database-specific key.
fibo-loan-loan-loan:LoanIdentifierLoan IdentifierA formal identification code allocated to loans.
fibo-loan-loan-loan:LoanInterestPaymentCommitmentLoan Interest Payment CommitmentA commitment by the borrower of a loan to pay interest on that loan or on amounts of that loan.
fibo-loan-loan-loan:LoanInterestPaymentTermsSetLoan Interest Payment Terms SetContractual terms governing the payment of interest on the loan.
fibo-loan-tem-tem:LoanInterestRateLoan Interest RateThis is also a timed variable with a present value and a time series of past values. What is it? A record of the rates that may have been charged in a variable rate loan. Therefore, this variable is the “Interest Rate” of the loan. It is a “Dated Parameter” – dates are taken care of in the upper mode of Variable Parameters.
fibo-loan-loan-pty:LoanLenderLoan Lender
fibo-loan-tem-sta:LoanLifecycleStatusLoan Lifecycle Status
fibo-loan-ln-ln:LoanMarketCategoryLoan Market Categorya category indicating the market domain in which the loan product is offered
fibo-loan-loan-gty:LoanMIGProviderLoan MIG ProviderMortgage Indemnity Guaranty (MIG) provider. Further notes: SME Review notes 16 Sept: Guaranty – mortgage insurance e.g. insure up to 80% exposure. When you get into indemnification, then for instance if the product doesn’t meet the investor’s requirement such that if it doesn’t get paid then the lender steps in and takes the hit for the loan – this is usually a precondition for securitizing (issuing) the loan in a pool. If the loan is not going to be sold on the secondary market there would be no need to indemnify that loan so this term would not apply. Indemnification is insurance for the investor, while the lender is the one providing that indemnification.
fibo-loan-ln-ln:LoanOfferLoan Offera generic loan product offered to the public, or a specific offer tailored to particular circumstances aimed at one potential borrower
fibo-loan-loan-loan:LoanOngoingPrepaymentTermsLoan Ongoing Prepayment TermsTerms governing prepayments of the principal on a loan by the borrower throughout the life of the loan.
fibo-loan-loan-loan:LoanOriginatorLoan OriginatorThe party which finds the lender for the loan, for the borrower.
fibo-loan-tem-ph:LoanPaidInFullLoan Paid In Full
fibo-loan-loan-loan:LoanPartyLoan PartyA Party to the Loan.
fibo-loan-tem-sta:LoanPaymentLoan PaymentAdd in here the terms on payment history related terms which are in the “Loan Contract” set.
fibo-loan-loan-loan:LoanPaymentScheduleLoan Payment ScheduleThe schedule for payments made by the borrower.
fibo-loan-tem-sta:LoanPaymentStatusLoan Payment Status
fibo-loan-tem-sta:LoanPerformanceStatusLoan Performance StatusThe current performance of the loan, as one of a list of possible statuses.
fibo-loan-tem-sta:LoanPerformanceStatusSelectionLoan Performance Status Selection
fibo-loan-tem-ph:LoanPhaseLoan Phase
fibo-loan-tem-sta:LoanPrepaymentStatusLoan Prepayment StatusInformation about prepayments of the loan, at a given point in time.
fibo-loan-loan-loan:LoanPrepaymentTermsSetLoan Prepayment Terms SetTerms governing prepayments of the principal on a loan by the borrower.
fibo-loan-loan-loan:LoanPrincipalRepaymentCommitmentLoan Principal Repayment CommitmentA commitment by a borrower to repay the principal on a loan under the terms described.
fibo-loan-loan-loan:LoanPrincipalRepaymentTermsLoan Principal Repayment TermsTerms governing the repayment of principal of the loan.
fibo-loan-ln-ln:LoanProductLoan Producta type of loan that a borrower may acquire from a lending institution with specific characteristics and terms
fibo-loan-typ-prod:LoanProductDisclosureRightLoan Product Disclosure RightRight to fair representation of the facts about Loan products before entrering into agreements for same.
fibo-loan-loan-reg:LoanProductRepresentationsLoan Product RepresentationsRepresentations about the loan product and the appropriateness of this for the borrower.
fibo-loan-loan-col:LoanPropertyCollateralLoan Property CollateralProperty Assets pledged to a lender until a loan is repaid. Further notes: This provides one means by which some extension of finance (such as a loan, debt or equity issue) is under-written.
fibo-loan-loan-loan:LoanPurposeSelectionLoan Purpose SelectionA selection of different types of loan purpose, being the purpose for which and manner in which loan (credit) draw-down amounts are to be used. This shows the purpose for which credit is to be used, and implies certain kinds of fact that relate to that specific type of loan e.g. mortgages. These are also identified as tranche types in tranches of a credit facility.
fibo-loan-tem-tem:LoanRateDeterminationLoan Rate Determination
fibo-loan-loan-reg:LoanRegulatoryRequirementLoan Regulatory RequirementA regulatory requirement defined in regulations by a comsumer credit act or other legislation.
fibo-loan-loan-loan:LoanRetainedAmountLoan Retained AmountRetained amount, an amount the Issuer will be obliged to fund to the borrower at a later date, for example construction deposit.
fibo-loan-typ-sec:LoanSecuritizationMethodLoan Securitization Method
fibo-loan-loan-pty:LoanServicer.1Loan Servicer.1The party which is the Loan Servicer. Further notes: The Loan Servicer may be the original lender or it may be someone else. For instance, if the bank is sold by Bank A, it may be given to some third party for servicing. Servicing is either done by the original lender or by someone else. Idea: Look at a data model from one of the main agencies. See Fannie Mae enterprise common data model. In progress. More precise definition needed for what it is to service a loan, i.e. what activities this party participates in and what facts apply. Some of these are defined in the facts which are emerging from these reviews. There seem to be several functions which may or may not be combined.
fibo-loan-tem-sta:LoanSnapshotOrStatusLoan Snapshot Or StatusInformation applicable to a loan at a given date.
fibo-loan-loan-loan:LoanStandardizationDocumentationLoan Standardization DocumentationVery specific categorization of documentation obtained by the lender at the time of origination to qualify a borrower. Documentation Types vary from lender to lender and need to be completely understood. takes a code list in the data world see eg S&P codes of these. not exhaustive? example tax returns etc. categorize as hi low or medium type of doc risk there are also ‘no doc’ mtges
fibo-loan-lnx-gen:LoanStandarizationDocumentTypeLoan Standarization Document TypeFinancial Institution defined categorization of documentation type. This is interpreted from information provided by the seller on both the data file and in their underwriting quidelines. See attached Translation tables. needs work These are (from CDDOCTYPE enumeration in MAT-CODES): Unknown Other Full Full or Alternate Alternative Lite Low – ACTION make sure this isn’t Risk Level in other list Limited Reduced Partial Streamline No Documentation No Ratio No Income Verifier No Income Qualifier Stated Documentation ACTION: Make sure these are all mutually exclusive, then implement as selection list entries.
fibo-loan-tem-sta:LoanStatusLoan StatusStatuses which occur for a period of time, relating to a loan.
fibo-loan-loan-loan:LoanTerminationProvisionsLoan Termination Provisions
fibo-loan-loan-pty:LoanThirdPartyLoan Third PartyA party which, by virtue of being a third party to the Loan Contract, performs some role directly in relation to the Loan.
fibo-loan-tem-ltv:LoanToValueRatioLoan To Value Ratio
fibo-loan-loan-loan:LoanVariableInterestPaymentTermsLoan Variable Interest Payment Terms
fibo-loan-ln-ln:ManufacturedHomeLegalClassificationManufactured Home Legal Classificationa category indicating whether the covered loan is secured by a manufactured home only or with land as well
fibo-loan-typ-gen:MarineFinanceMarine FinanceA loan for the purchase of a boat or other vessel.
fibo-loan-typ-gen:MarineFinanceContractMarine Finance ContractContract embodying the terms under which a loan is advanced for marine finance.
fibo-loan-typ-mtg:MortgageBorrowerMortgage Borrower
fibo-loan-loan-gty:MortgageIndemnityGuarantyMortgage Indemnity GuarantyMortgage Indemnity Guaranty (MIG).
fibo-loan-loan-gty:MortgageIndemnityInsurancePolicyMortgage Indemnity Insurance PolicyThe physical policy for the Mortgage Indemnity Guaranty.
fibo-loan-typ-mtg:MortgageLenderMortgage Lender
fibo-loan-tem-ev:MortgageLendingMortgage Lending
fibo-loan-typ-mtg:MortgageLoanMortgage LoanA loan securitized against some real estate.
fibo-loan-tem-app:MortgageLoanApplicationMortgage Loan Application
fibo-loan-tem-app:MortgageLoanAppraiserMortgage Loan AppraiserThat party which appraises the borrower for the purposes of the loan.
fibo-loan-tem-apr:MortgageLoanBorrowerAssessmentInformationMortgage Loan Borrower Assessment Information
fibo-loan-typ-mtg:MortgageLoanBorrowerInformationMortgage Loan Borrower Information
fibo-loan-ln-ln:MortgageLoanContractMortgage Loan Contracta loan contract that is secured by real property
fibo-loan-ln-ln:MortgageLoanPurposeMortgage Loan Purposethe purpose for which mortgage loan proceeds will be used, such as real property purchase, dwelling construction, or loan refinancing
fibo-loan-typ-prod:MortgageProductMortgage Product
fibo-loan-loan-loan:MotorhomeLoanPurposeMotorhome Loan Purpose
fibo-loan-ln-ln:NMLSR_IDNMLSR_IDthe 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.
fibo-loan-tem-ev:NonPaymentNon Payment
fibo-loan-tem-ev:NonValueChangingActivityNon Value Changing Activity
fibo-loan-ln-ln:OpenEndLoanContractOpen End Loan Contracta 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.
fibo-loan-loan-loan:OrdinaryLoanPurposeOrdinary Loan Purpose
fibo-loan-lnx-lgn:OrganizationContactInformationOrganization Contact Informationcontact information for an organization
fibo-loan-loan-loan:OriginalBalanceApplicabilityOriginal Balance Applicability
fibo-loan-tem-ltv:OriginalLTVOriginal LTV
fibo-loan-loan-loan:OverdraftFacilityPurposeOverdraft Facility Purpose
fibo-loan-ln-ln:OwnershipInterestTypeOwnership Interest Typea category indicating the nature of the applicant’s or borrower’s ownership or leasehold interest in the land where the manufactured home is located.
fibo-loan-loan-loan:PaymentArrangementTermsPayment Arrangement TermsTerms covering other arrangements for payments such as paying scheduled payments early to be applied on the scheduled payment dates.
fibo-loan-lnx-lgn:PaymentHistoryPayment Historya record of actual payments of principal, interest, and other related amounts made by a borrower to a lender or servicer in order to fulfill their re-payment obligation
fibo-loan-lnx-lgn:PaymentSchedulePayment Schedulea Schedule of amounts of principal and interest that are due over the term of the loan in order to fully pay off the obligation
fibo-loan-loan-loan:PenaltyInterestBalanceApplicabilityPenalty Interest Balance ApplicabilitySelection of types of balance to which pre-payment interest penalties may be applied.
fibo-loan-tem-bor:PersonalAssessmentFactsAtApprovalPersonal Assessment Facts At ApprovalPertinent economic facts about an individual person at the time a given loan was approved.
fibo-loan-tem-bor:PersonalDatedFactsPersonal Dated FactsFacts about a natural person. These are facts that are true as at a given time.
fibo-loan-typ-per:PersonalLoanPersonal LoanConsumer Loan: The recipient (borrower) is an end consumer. Types: Home Mortgage
fibo-loan-typ-per:PersonalLoanBorrowerPersonal Loan Borrower
fibo-loan-tem-bor:PersonalLoanBorrowerAssessmentInformationPersonal Loan Borrower Assessment Information
fibo-loan-typ-per:PersonalLoanContractPersonal Loan ContractThe contract for a loan which is advanced to an individual human beings or two more individual human beings in their personal capacities.
fibo-loan-tem-bor:PersonalMortgageLoanBorrowerAssessmentInformationPersonal Mortgage Loan Borrower Assessment Information
fibo-loan-lnx-lgn:PhoneNumberPhone Numbera virtual address for communication via phone
fibo-loan-ln-ln:PreApprovalContractPre Approval Contracta written commitment to lend when specified conditions are met, e.g. finding suitable property, and unchanged creditworthiness
fibo-loan-ln-ln:PreApprovalRequestPre Approval Requesta 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
fibo-loan-tem-ev:PrepaymentPrepayment
fibo-loan-loan-pty:PrimaryBorrowerPrimary Borrower
fibo-loan-loan-reg:ProductDisclosureRequirementProduct Disclosure RequirementA requirement governing what representations can be made about a product, as it affects the consumer.
fibo-loan-loan-reg:ProductDisclosureRightProduct Disclosure RightThe right to information about products at the point of purchasing these.
fibo-loan-tem-ev:PropertyBuyerProperty Buyer
fibo-loan-tem-ev:PropertyCollateralValuationProperty Collateral ValuationA valuation of the collateral Real Property to support the Property collateral Arrangement
fibo-loan-ln-ln:PropertyInspectionProperty Inspectionthe act of analyzing one or more aspects of a real property for independent assessment of status or deficiency
fibo-loan-tem-ev:PropertyLendersValuationTypeSelectionProperty Lenders Valuation Type Selection
fibo-loan-tem-ev:PropertyPurchaseAndSaleProperty Purchase And SaleThe sale and purchase of real estate.
fibo-loan-tem-ev:PropertyRelatedActivityProperty Related Activitynot sure if this is useful as a common class. Used for grouping of new activity terms around mortgage lending and propery purchase for now
fibo-loan-ln-ln:PropertyUsageProperty Usagea category indicating the manner in which the borrower intends to utilize the property
fibo-loan-tem-ev:PropertyValuationProperty ValuationThe activity whereby some real estats is valued by some agent, for some purpose (for example, for the purpose of granting or denoying a loan).
fibo-loan-tem-ev:PropertyValuationHistoricalInformationProperty Valuation Historical InformationValuation of the property at some point in time.
fibo-loan-tem-ev:PropertyValuerProperty ValuerThe party which carries out the valluation of the property for the purpose of a mortgage loan. Further notes: Also: See Event State Analysis at Fannie Mae, for core processes, as partof the enterprise data architecture transformation, e.g. ESA for single family and multi family loans.
fibo-loan-ln-ln:PublicRecordPublic Recorda record about an action involving a party that is publicly available from court or other government agencies
fibo-loan-ln-ln:PublicRecordCategoryPublic Record Categorya particular classification of public record, e.g. tax lien, wage garnishment, foreclosure
fibo-loan-typ-mtg:PurchasePurchase
fibo-loan-tem-ev:PurchasePricePurchase Price
fibo-loan-ln-ln:RaceRacea category based on a person’s physical characteristics, such as bone structure and skin, hair, or eye color
fibo-loan-ln-ln:RealPropertyAppraisalReal Property Appraisalan act of real estate valuation that determines the amount of money a real estate property is worth.
fibo-loan-loan-reg:RegBReg BUS regulation concerning “Equal credit opportunity act” Electronic delivery of disclosures
fibo-loan-loan-reg:RegZReg ZUS Fed regulation “Truth in Lending Act” uniform standards for electronic delivery of disclosures
fibo-loan-typ-mtg:RemortgageRemortgage
fibo-loan-typ-mtg:RemortgageOnDifferentTermsRemortgage On Different Terms
fibo-loan-typ-mtg:RemortgageWithEquityReleaseRemortgage With Equity Release
fibo-loan-typ-mtg:RenovationRenovation
fibo-loan-tem-ph:RepaidLoanRepaid Loan
fibo-loan-tem-ph:RepaymentPhaseRepayment Phase
fibo-loan-tem-apr:RepossessionHistoryRepossession HistoryInformation about an entity which has a history of repossessions, about those repossessions.
fibo-loan-loan-reg:RepresentationRepresentation
fibo-loan-loan-loan:ResidentialHouseboatLoanPurposeResidential Houseboat Loan Purpose
fibo-loan-typ-mtg:ReverseMortgageReverse MortgageDesigned for senior citizens who want to borrow against the equity of house. The house has been paid for. How is it different?: Scenario based. If you have someone who is asset rich but cash poor then a traditional view of the mortgage wqould say yoiu must have th ecash to repay the loan, which would not apply in this case: we actually don’t anticipate that you would repay it, maybe not even regular amounts on the loan, but when the loan expires, e.g. when you die, we will recover on the asset in the normal course of events. Not seen as a default but is an expectation that we will recover our funds. See Wikipedia. AKA Lifetime morgtage, seniores (age xxx or older) to release the home equity.
fibo-loan-ln-ln:ReverseMortgageLoanContractReverse Mortgage Loan Contracta 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.
fibo-loan-typ-cr:RevolvingCreditContractRevolving Credit ContractContract which embodies and defines the terms and conditions for a credit line based on some collaterial, which can be drawn down and/or paid back by the borrower.
fibo-loan-typ-cr:RevolvingLineOfCreditRevolving Line Of CreditA credit line based on some collateral, that can be drawn down and/or paid back by the borrower.
fibo-loan-typ-cr:RevolvingLineOfCreditTrancheRevolving Line Of Credit TrancheA contractually committed line of credit which is issued as a revolving line of credit which can be drawn upon and has collateral
fibo-loan-loan-reg:RightOfCreditRecordCorrectionRight Of Credit Record CorrectionThe right to have a credit record corrected.
fibo-loan-typ-mtg:RightToBuyRight To Buy
fibo-loan-lnx-lgn:ScheduledPaymentScheduled Paymenta scheduled payment occurrence that is part of a payment schedule covering the term of the loan
fibo-loan-typ-mtg:SecondHomeLoanSecond Home LoanA loan which may be used for a vacation home or second home used for personal reasons.
fibo-loan-typ-mtg:SecondHomeLoanContractSecond Home Loan Contract
fibo-loan-loan-pty:SecondaryBorrowerSecondary Borrower
fibo-loan-typ-sec:SecuredByCollateralSecured By Collateral
fibo-loan-typ-sec:SecuredByGuarantySecured By Guaranty
fibo-loan-typ-sec:SecuredLoanSecured LoanA loan which is secured by some security in the form either of collateral or of guaranty.
fibo-loan-ln-ln:SecuredLoanContractSecured Loan Contracta loan contract that is secured by some collateral
fibo-loan-ln-ln:SecurityAgreementSecurity Agreementan 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
fibo-loan-tem-col:SecurityInterestDatedFactsSecurity Interest Dated Facts
fibo-loan-typ-stu:StudentBorrowerStudent Borrower
fibo-loan-typ-stu:StudentLoanStudent LoanA loan provided for the purposes of education.
fibo-loan-tem-sta:StudentLoanActiveStatusStudent Loan Active StatusThe status of the Student Loan at a given point in time, during the phase where it is active (the disbursement phase).
fibo-loan-tem-sta:StudentLoanActiveStatusSelectionStudent Loan Active Status Selection
fibo-loan-typ-stu:StudentLoanContractStudent Loan ContractThe contract for a Student Loan.
fibo-loan-loan-loan:StudentLoanPurposeStudent Loan Purpose
fibo-loan-ln-ln:TotalDebtExpenseRatioTotal Debt Expense Ratioa 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
fibo-loan-ln-ln:UnderwritingAutomationUnderwriting Automationa category indicating whether a loan was underwritten manually or using an automated underwriting system
fibo-loan-ln-ln:UnderwritingDecisionUnderwriting Decisiona loan approval recommendation determined either manually or by an automated underwriting system
fibo-loan-ln-ln:UniversalLoanIdentifierUniversal Loan Identifiera unique identifier given to unequivocally identify a specific mortgage loan.
fibo-loan-typ-uns:UnsecuredLoanUnsecured Loan
fibo-loan-lnx-gen:UnsubscribedDebtUnsubscribed Debt
fibo-loan-tem-ev:ValueChangingActivityValue Changing ActivitySome event or activity which changes the value of something. Examples: A value changing event can be for instance (in securities), a declaration of a dividend. This is an event which changes the value of something. CAE that are in FIBIM are value changing events. Changes to principal on any loan is a value changing event.
fibo-loan-loan-loan:WorkingCapitalPurposeWorking Capital Purpose