High Cost Mortgages (HCM) - Response
Please see the Legend to understand the conventions used to document each element and attribute. Note that for responses, the XML elements are documented in the order that they appear in the response.
| Element | Attributes |
|---|---|
<outHCM> | |
<Description> | |
<XMLDetail>[] | |
<IsHcm> | 🔸Apr, 🔸PointsFees, 🔸Prepayment |
<AprTrigger> | 🔸Apor, 🔸Date, 🔸Difference, 🔸Spread |
<PointsFeesTrigger> | 🔸MaxPointsFees, 🔸TotalLoanAmount, 🔸TotalPointsFees |
<PrepaymentTrigger> | 🔸After36Months, 🔸Max, 🔸Total |
🟥 <outHCM>
| Element Type | Data Type |
|---|---|
| Parent | - |
This is the root element of the HCM query output message, and is required. This element simply acts as a container for all of the result child elements.
Attributes: None
🟥 <Results>→<Description>
| Element Type | Data Type |
|---|---|
| Data | Text |
If the calculation was completed successfully, then this element will contain
the value Successful Calculation. Otherwise, this element will contain a
description of the problem encountered during the attempted computation.
Attributes: None
🟦 <XMLDetail>[]
| Element Type | Data Type | Default |
|---|---|---|
| Data | Text | n/a |
The XMLDetail elements are messages passed back to the calling application which
detail the status of the XML request. If the SCEX issues any warnings regarding
unrecognized elements or attributes, then each warning message will be displayed
in an <XMLDetail> element.
In our sample output above, no warnings are returned by the SCEX, and hence
there are no <XMLDetail> elements returned.
Attributes: None
🟥 <IsHcm>
| Element Type | Data Type | Values |
|---|---|---|
| Data | Boolean | true, false |
The value of this element will either be true or false, and will indicate whether or not the submitted loan is a HCM. The following attributes of this element detail the results of the three tests (Apr, Points and Fees, and Prepayment tests):
Attributes:
🔸Apr,🔸PointsFees,🔸Prepayment
🔸 Apr
| Data Type | Values |
|---|---|
| Boolean | true, false |
If the Apr test was triggered, then the value of this attribute will be true.
🔸 PointsFees
| Data Type | Values |
|---|---|
| Boolean | true, false |
If the Points and Fees test was triggered, then the value of this attribute will be true.
🔸 Prepayment
| Data Type | Values |
|---|---|
| Boolean | true, false |
If the Prepayment test was triggered, then the value of this attribute will be true.
🟥 <AprTrigger>
| Element Type | Data Type |
|---|---|
| Empty | - |
This element provides further information on the HCM Apr test, which may be of interest to the calling application. The element itself contains no data. Instead, all of the relevant information is contained in the following attributes of the element:
Attributes:
🔸Apor,🔸Date,🔸Difference,🔸Spread
🔸 Apor
| Data Type |
|---|
| Decimal |
The value of this attribute contains the Average Prime Offer Rate for the submitted loan. This value is retrieved from the appropriate APOR file (fixed or adjustable).
🔸 Date
| Data Type |
|---|
| Date |
The Date attribute contains the date on which the APOR data was effective. As an example, if the lock in date was 2013-05-09, then the date returned should be 2013-05-06 (if the APOR files are up to date).
🔸 Difference
| Data Type |
|---|
| Decimal |
The value of this attribute returns the difference between the submitted APR applicable to the transaction, and the APOR plus the spread. If the difference is greater than zero (which means that the APR is greater than the APOR plus spread), then the loan is a HCM.
🔸 Spread
| Data Type |
|---|
| Decimal |
The spread value depends upon the type of lien, loan amount, and dwelling type. The resulting spread will either be 6.5 or 8.5.
🟥 <PointsFeesTrigger>
| Element Type | Data Type |
|---|---|
| Empty | - |
This element provides further information on the HCM points and fees test, which may be of interest to the calling application. The element itself contains no data. Instead, all of the relevant information is contained in the following attributes of the element:
Attributes:
🔸MaxPointsFees,🔸TotalLoanAmount,🔸TotalPointsFees
🔸 MaxPointsFees
| Data Type |
|---|
| Currency |
If the computed total points and fees value for the submitted loan exceeds this value, then the loan is a HCM. The maximum points and fees value calculation is defined in Section 1026.32(a)(1)(ii).
🔸 TotalLoanAmount
| Data Type |
|---|
| Currency |
The total loan amount is defined in Section 1026.32(b)(4). It is calculated by taking the Regulation Z Amount Financed and deducting some of the financed fees and charges which are provided as inputs to the calculation.
🔸 TotalPointsFees
| Data Type |
|---|
| Currency |
The total points and fees value is defined in Section 1026.32(b)(1). It is calculated by taking the Regulation Z Finance Charge and deducting some portions of the Finance Charge, and then adding other fees and charges which are provided as inputs to the calculation.
🟥 <PrepaymentTrigger>
| Element Type | Data Type |
|---|---|
| Empty | - |
Attributes:
🔸After36Months,🔸Max,🔸Total
This element provides further information on the HCM prepayment test, which may be of interest to the calling application. The element itself contains no data. Instead, all of the relevant information is contained in the following attributes of the element:
🔸 After36Months
| Data Type | Values |
|---|---|
| Boolean | true, false |
If the creditor can charge a prepayment penalty more than 36 months after consummation, then the loan is a HCM.
🔸 Max
| Data Type |
|---|
| Currency |
The maximum prepayment penalty is computed according to Section 1026.32(a)(1)(iii), and is equal to 2% of the specified AmountPrepaid. If the Total amount exceeds this value, then the loan is a HCM.
🔸 Total
| Data Type |
|---|
| Currency |
This attribute returns the total potential amount of prepayment penalties.