REMITTANCE

Description
The REMITTANCE data items for each policy remittance record being produced and reported from the agent to the underwriter.

Type : REMITTANCE

Definition
The REMITTANCE data items for each policy remittance record being produced and reported from the agent to the underwriter.
(Defined in file MISMO_3.4.0_B324.xsd , or a file it imports)

Elements
AgentPortionAmountThe dollar amount of the gross premium that is retained by the agent issuing policy.A data type of Amount SHOULD identify a number value that is an amount of money and MAY have a CurrencyURI attribute. It SHALL NOT contain any punctuation other than the decimal point or sign values. The decimal point is ALWAYS the US nationalization character (.) in the designated character encoding (UTF-8 assumed when not stated ) It SHOULD be able to contain at least 18 digits. EXAMPLE: An Unpaid Principle Balance Amount of $100,000.12 would be expressed as "100000.12".
BasisOfInsuranceDiscountAmountThe amount that is the basis for discounting the policy, if prior policy, loan payoff amount, or a simultaneous policy exists. Should a loan policy exceed the owner's insurance amount to determine if an additional premium is needed.A data type of Amount SHOULD identify a number value that is an amount of money and MAY have a CurrencyURI attribute. It SHALL NOT contain any punctuation other than the decimal point or sign values. The decimal point is ALWAYS the US nationalization character (.) in the designated character encoding (UTF-8 assumed when not stated ) It SHOULD be able to contain at least 18 digits. EXAMPLE: An Unpaid Principle Balance Amount of $100,000.12 would be expressed as "100000.12".
EXTENSION
GrossPremiumAmountThe total dollar amount collected for the policy, fee, or endorsements being issued or remitted.A data type of Amount SHOULD identify a number value that is an amount of money and MAY have a CurrencyURI attribute. It SHALL NOT contain any punctuation other than the decimal point or sign values. The decimal point is ALWAYS the US nationalization character (.) in the designated character encoding (UTF-8 assumed when not stated ) It SHOULD be able to contain at least 18 digits. EXAMPLE: An Unpaid Principle Balance Amount of $100,000.12 would be expressed as "100000.12".
InsuredNameIdentifies the individual or corporation who will be named as the insured party on the policy.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.".
NAICTitlePolicyClassificationTypeNAIC-defined classification for policies insuring title to real property as either residential or nonresidential. NAIC-defined classification for policies insuring title to real property as either residential or nonresidential. 
NamedInsuredTypeDesignates the type of entity that will be the named insured on the Title Insurance Policy document.Designates the type of entity that will be the named insured on the Title Insurance Policy document.
OtherBasisOfInsuranceDiscountAmountThe amount that is used for discounting the policy, should there be an additional basis for discounting the policy based on a simultaneous policy.A data type of Amount SHOULD identify a number value that is an amount of money and MAY have a CurrencyURI attribute. It SHALL NOT contain any punctuation other than the decimal point or sign values. The decimal point is ALWAYS the US nationalization character (.) in the designated character encoding (UTF-8 assumed when not stated ) It SHOULD be able to contain at least 18 digits. EXAMPLE: An Unpaid Principle Balance Amount of $100,000.12 would be expressed as "100000.12".
PolicyFormDescriptionA free-form text field describing the reference to the title form being used to produce the title policy (ex: ALTA Short Form Loan Policy (2007))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.".
PriorPolicyEffectiveDateThe date that the title insurance policy coverage begins / becomes effective of the prior policy.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".
PriorPolicyIdentifierThis is typically referred to as the "Prior Policy Number" associated with the policy which is also referred to as the Jacket Number of the previous transaction should this be a "ReIssue".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".
RemittancePolicyDescriptionThe description of the remittance policy product being reported.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.".
RemittancePolicyEffectiveDateThe date that the title insurance policy coverage begins or becomes effective for the remittance record.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".
RemittancePolicyPrefixCodeThis is typically referred to as the Policy Number associated with the policy which is also referred to as the Jacket Number. This number is in two parts this data element is for the Prefix part of that number which is commonly used as the form identification (ex. OP - Owner's Policy, MP - Mortgage Policy, etc)A data type of Code SHOULD identify a data point that is a look-up value for an entry in a list of values and explanations and MAY have CodeOwnerURI and CodeEffectiveDate attributes. EXAMPLE: A State Code would be expressed as "AL".
RemittancePolicySuffixIdentifierThis is typically referred to as the Policy Number associated with the policy which is also referred to as the Jacket Number. This number is in two parts this data element is for the Suffix part of that number which is commonly used as the serial number / unique identifier to that policy.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".
RemittanceRecordTransactionCodeRemittance record transaction code is the code used in calculation to further qualify the rate being used in the calculation. The party assigning the code can be provided using the CodeOwnerURI associated with a MISMOCode.A data type of Code SHOULD identify a data point that is a look-up value for an entry in a list of values and explanations and MAY have CodeOwnerURI and CodeEffectiveDate attributes. EXAMPLE: A State Code would be expressed as "AL".
RemittanceRecordTransactionCodeDescription A description of the remittance record transaction code.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.".
RemittanceRecordTypeSpecifies a type of remittance record.Specifies a type of remittance record.
RemittanceRecordTypeOtherDescriptionA free-form text field used to describe the remittance record type if Other is selected as the Remittance Record 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.".
RemittanceTitleInsuranceAmountThe dollar amount of the policy coverage for the referenced remittance record if there is coverage (e.g. Loan Amount for loan policy, sales price for owner's policy, none for Endorsements).A data type of Amount SHOULD identify a number value that is an amount of money and MAY have a CurrencyURI attribute. It SHALL NOT contain any punctuation other than the decimal point or sign values. The decimal point is ALWAYS the US nationalization character (.) in the designated character encoding (UTF-8 assumed when not stated ) It SHOULD be able to contain at least 18 digits. EXAMPLE: An Unpaid Principle Balance Amount of $100,000.12 would be expressed as "100000.12".
UnderwriterPortionAmountThe dollar amount of the gross premium that is attributed to the underwriter.A data type of Amount SHOULD identify a number value that is an amount of money and MAY have a CurrencyURI attribute. It SHALL NOT contain any punctuation other than the decimal point or sign values. The decimal point is ALWAYS the US nationalization character (.) in the designated character encoding (UTF-8 assumed when not stated ) It SHOULD be able to contain at least 18 digits. EXAMPLE: An Unpaid Principle Balance Amount of $100,000.12 would be expressed as "100000.12".

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\SERVICES\SERVICE\TITLE\TITLE_RESPONSE\REMITTANCES