Agreement on common data attributes also necessitates an agreement on their definitions. During the process of identifying attributes for retail mortgages, definitions were sourced from either the respective jurisdictional frameworks or third-party sources where existing definitions did not meet the needs of the respective reporting requirements.
These definitions are solely to inform the data attributes of the POC and are not reflective of the actual prescribed definitions found in either reporting regime. However, it is intended to illustrate the exercise of agreeing to a definition “in principle” for the modelled attributes, as well as to highlight the importance in a cross-border context of definitions that are applicable in other jurisdictions for similar products. Converging on a common understanding of products and their definitions is an important step towards normalising their use in a standardised manner.
Ellipse POC definition
Unique identifier (ID) for each loan: the loan ID should not change through the life of the transaction, if the original loan ID cannot be maintained in future in this field enter the original ID followed by the new ID
The reason for taking the mortgage loan. Buy a first home; Buy another home; Re-mortgage from another lender
The original balance when the mortgage was completed. Amount of loan approved (and currency of loan) - (in UK also including fees + charges). In the case of loans where the amount advanced is less than the total amount of the loan which the firm has agreed to lend, this should be the amount of the committed advance (including any committed drawing facilities).
Main/First Borrower ID
Unique identifier (ID) per borrower (not showing the real name) to identify the point of contact amongst the borrowers or the largest borrower (in terms of liabilities) in a group of borrowers. Should not change over the life of the transaction. If more than one borrower list the Borrower ID's with comma delimitation with primary borrower first.
Date mortgage matures based on contract date
The date the loan contract is due to mature if it goes to full term. (This can then be used to calculate the remaining loan tenure at any point in time.)
The rate of interest reported should be the initial gross nominal rate charged on the loan and should take into account any discount being provided.
Reversionary interest rate
Type of interest rate at end of initial incentivised rate period. Could be fixed rate, discount, capped rate, standard variable rate, base rate tracker, reference rate tracker, other tracker, other or not applicable.
Date of first drawdown
Date on which the initial tranche or complete amount of the mortgage loan is transferred from the lender to the borrower or their agent.
Unique identifier per property to enable properties with multiple loans in the pool to be identified (e.g. further advances / second lines are shown as separate entries).
Country where Collateral Property is Located
The ISO code of the country where the land/ property which is subject to mortgage is located.
For POC limited to Private residential which refers to privately owned property for occupation of at least 40% as a dwelling by the borrower(s) and/or dependent(s).
One option from list below per mortgaged property. A dwelling is a self-contained room or suite of rooms, including cooking and bathing facilities, intended for long-term residential use. A dwelling is private (not generally accessible by the public) and is contained within a building that is an immobile structure. A dwelling may comprise part of a building or the whole of a building. Regardless of whether they are self-contained or not, rooms within buildings offering institutional care (e.g. hospitals) or temporary accommodation (e.g. hotels, motels or hostels) are not defined as dwellings.
A single storey dwelling, usually detached.
A standalone residential structure of more than one storey that does not share any outside walls with another residential property.
A residential dwelling of more than one story in height attached to another building or dwelling by one common party wall.
A dwelling of more than one storey attached to another house on two sides forming part of a row of similar houses each with its own frontage to a road.
An apartment/ flat /condominium is a separate and self-contained premise constructed or adapted for use for residential purposes and forming part of a building from some other part of which it is divided horizontally. Flats have to be contained within a dwelling with at least two storeys. These dwellings do not have their own private grounds and usually share a common entrance foyer or stairwell. Does not include duplexes, townhouses or a detached residence that includes a flat (such as a granny flat) on the same property. Also includes Maisonettes - in the case of the UK, which refer to a set of rooms for living in typically on two storeys as part of a larger building with a separate entrance from rest of the building. Can be one level or split level. include both purpose built and converted buildings.