COLLECTION

Description
Information regarding the type, date and results for collection efforts for a loan.

Type : COLLECTION

Definition
Information regarding the type, date and results for collection efforts for a loan.
(Defined in file MISMO_3.4.0_B324.xsd , or a file it imports)

Elements
BorrowerCollectionResponseIndicatorWhen true, indicates that there was a response from the borrower to the specified collection effort.A data type of Indicator SHOULD identify a data point that represents a boolean value. The value choices SHOULD be "true" or "false" but MAY be "1" or "0". EXAMPLE: A Basement Finished Indicator for a basement that qualifies would be expressed as "true".
CollectionContactDateThe date on which the collection contact was made.A data type of Date SHOULD identify a data point that represents numerically a specific year, month and year, or day month and year of the Gregorian Calendar. Full dates MUST be represented in the extended format CCYY-MM-DD CCYY is a four-digit year, "0001" through "9999" MM is a two-digit month of that year, "01" through "12" DD is a two-digit day of that month, "01" through "31" Padded zeros must be used. - is the required separator between CCYY-MM-DD if the day or month and day are dropped, the preceding separator is also dropped an optional trailing time zone indicator is permitted using either Z (for Coordinated Universal Time UTC) or an offset from UTC using +hh:mm or -hh:mm as in Datetime Note that negative or extended (more than 4 digit) years are not permitted. EXAMPLE: A Next Escrow Review Date that discloses the year and month would be expressed as "2010-06".
CollectionContactMethodIdentifierA unique identifier of the collection contact method. The party assigning the identifier can be provided using the IdentifierOwnerURI.A data type of Identifier SHOULD identify a data point that provides a unique value for reference purposes and MAY have IdentifierOwnerURI and IdentifierEffectiveDate attributes. EXAMPLE: A Loan Identifier could be expressed as "0034567891-A".
CollectionContactMethodTypeSpecifies the method used to make contact with the party in a collection effort.Specifies the method used to make contact with the party in a collection effort.
CollectionContactMethodTypeOtherDescriptionA free-form text field used to collect additional information when Other is selected as the Collection Contact Method Type.A data type of String SHOULD identify a data point that is either a text value consisting of a word, phrase, sentence, paragraph, or formatted (TAB, CR, LF) character content depending on its purpose or a numeric value with a maximum of 16383 characters and MAY have the lang attribute. There is no list of valid values provided. EXAMPLE: A Disqualificaton Reason Text for excluding a product from those offered to a borrower could be expressed as "Does not meet income to indebtedness guidelines for down payment support.".
CollectionContactProductiveIndicatorWhen true, indicates that the collection contact was considered to be productive by the servicer or investor and results in an attempt to solve the delinquency.A data type of Indicator SHOULD identify a data point that represents a boolean value. The value choices SHOULD be "true" or "false" but MAY be "1" or "0". EXAMPLE: A Basement Finished Indicator for a basement that qualifies would be expressed as "true".
EXTENSION
PromiseToPayIndicatorWhen true, indicates that a promise to repay the debt was made as a result of the collection contact.A data type of Indicator SHOULD identify a data point that represents a boolean value. The value choices SHOULD be "true" or "false" but MAY be "1" or "0". EXAMPLE: A Basement Finished Indicator for a basement that qualifies would be expressed as "true".
RightPartyContactIndicatorWhen true, indicates that a contact was made with the borrower, co-borrower, trusted advisor, such as a housing counselor, or other authorized party that results in a conversation about resolving the loan delinquency.A data type of Indicator SHOULD identify a data point that represents a boolean value. The value choices SHOULD be "true" or "false" but MAY be "1" or "0". EXAMPLE: A Basement Finished Indicator for a basement that qualifies would be expressed as "true".

Attributes
label
SequenceNumberAn integer value used to provide an order to multi-instance sibling elements. The value must be unique for each sibling element.

Parents
\MESSAGE\DEAL_SETS\DEAL_SET\DEALS\DEAL\LOANS\LOAN\COLLECTIONS