Personal Dated Facts

From Open Risk Manual


Personal Dated Facts. Facts about a natural person. These are facts that are true as at a given time.


These are assessed by the servicer on a regular basis. For example monthly. The Loan servicer assesses information about the borrower once a month. If payment is once a month, then once a month you make the payment, the information goes to the Servicer (whether or not this is the originating bank). They keep a running total. They decrement the principal and so on. So this is monthly because the payments are monthly. They have the reports of the monies received and so on. All this is provided to the Conservatorships (where this happens) ,and are kept as individual records there AND are aggregated for accounting and risk management purposes.

For securities, need to go down to the quality level of the individual loans when they put then in the pools. Further to this: this is for dynamic MBS / ABS securities (dynmaic versus static loan pools and securities based on these). If it's fixed and is in place and being serviced, there is no way to change the terms of the security. If it defaults, then the original contract is defective. with dynmaci, similar to managed CDO in that the content of the pool can be changed. Earlier note Fannie Mae: the initial assessment of the borrower in terms of Credit worthiness and financial status. taken by the broker organization. the financial status of the borrower, as well as down payment, credit rating etc. is taken into account by "Pre-approval".

Preappoval means the broker is submitting the loan to Fannie Mae with the idea that it would meet the criteria to be purchasable by Fannie Mae. When all this is verified these are sent to Fannie Mae and then we have "agreements" or "commitments" that are in the pipeline - in the process of being processed or closed, then there are x many fixed, variable and so on. Then Fannie Mae will estimate how many loans it will be purchasing by aggregating all those.

Meanwhile: Loan servicing - if this identified late payments or missed payments, then there may be another assessment of the borrower's credit worthiness. If going into foreclosure, would be another assessment. Once the loans are purchased, the concerns are simply calculating LTV (on property side, for a mortgage), which changes with payment and market value. Gets aggregated for various kinds of risk assessment and exposure assessment. The reporting by the servicer is monthly regardless of the payment frequency of the loan.

Corporate versus Personal

Are the same kinds of facts assessed? Is the assessment still monthly? Agency (conservatorship): as above, once the loan is in a pool, the servicer reports to them. ALSO: If the loan is transferred from one pool etc. to another. Meanwhile: Borrower may be any Legal Entity, even for agency loans. they capture the party role, the relationship between the party and a security, and the relationship between a party and a pool of loans. Allows for a range of kinds of party. See tables of info on loan pools. 35 logical tables about the loan itself. Borrower (in old common data model in Fannie) for Borrower, has credit, per loan the mortgage insurer, the originator of the loan (bank, underwriter, brokerage etc.), the appraiser (of the property i.e. real estate, for mortgage), and for Loan borrower, the Borrower Type Code, whether ever bankrupt, amount of doan payment, borrower details, depth (Borrower v Borrower Liabilities); business expenses, Review notes: Identify the things about corporations that extend to persons and vice versa. Also static versus dated terms e.g. birth date v date of incorporation.


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