<xs:complexType name="MortgageClassificationEnum">
<xs:annotation>
<xs:documentation>
A list of some well known mortgage
classifications
</xs:documentation>
<xs:appinfo>
Adjustable Rate
</xs:appinfo>
</xs:annotation>
<xs:simpleContent>
<xs:restriction base="commons:OtherEnumerationDescriptionString">
<xs:enumeration value="Adjustable Rate">
<xs:annotation>
<xs:documentation>
Also known as ARM, the interest rate
may be adjusted during the term of the
agreement.
</xs:documentation>
<xs:appinfo>
<retsid>101250</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Alternative Mortgage Instrument">
<xs:annotation>
<xs:documentation>
A general term to describe mortgage
types that are not fixed in term.
</xs:documentation>
<xs:appinfo>
<retsid>101251</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Balloon">
<xs:annotation>
<xs:documentation>
A type of fixed rate mortgage that
starts with a low rate for a period of
five to seven years then is ended with
a single large payment for all the
remaining principal.
</xs:documentation>
<xs:appinfo>
<retsid>101252</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Biweekly">
<xs:annotation>
<xs:appinfo>
<retsid>101253</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Capped Rate">
<xs:annotation>
<xs:appinfo>
<retsid>101254</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Chattel">
<xs:annotation>
<xs:documentation>
A loan secured against personal
property
</xs:documentation>
<xs:appinfo>
<retsid>101255</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Closed Rate">
<xs:annotation>
<xs:appinfo>
<retsid>101256</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Conventional">
<xs:annotation>
<xs:appinfo>
<retsid>101257</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Convertible">
<xs:annotation>
<xs:appinfo>
<retsid>101258</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="FHA">
<xs:annotation>
<xs:documentation>
A load arranged through the
Federal Housing Administration
</xs:documentation>
<xs:appinfo>
<retsid>101259</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Fixed">
<xs:annotation>
<xs:documentation>
The interest rate is fixed for the
term of the agreement.
</xs:documentation>
<xs:appinfo>
<retsid>101260</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Graduated Payment">
<xs:annotation>
<xs:documentation>
A form of fixed price mortgage where
the payment increases from an initial
amount to a final amount.
</xs:documentation>
<xs:appinfo>
<retsid>101261</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Growing Equity">
<xs:annotation>
<xs:documentation>
A Hybrid is a generic description
of a loan that starts as one type
of loan (fixed or adjustable) then
converts to the opposite type of
loan.
</xs:documentation>
<xs:appinfo>
<retsid>101262</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="High Ratio">
<xs:annotation>
<xs:documentation>
A Hybrid is a generic description
of a loan that starts as one type
of loan (fixed or adjustable) then
converts to the opposite type of
loan.
</xs:documentation>
<xs:appinfo>
<retsid>101263</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Hybrid ARM">
<xs:annotation>
<xs:documentation>
A Hybrid is a generic description
of a loan that starts as one type
of loan (fixed or adjustable) then
converts to the opposite type of
loan.
</xs:documentation>
<xs:appinfo>
<retsid>101264</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Interest-Only">
<xs:annotation>
<xs:documentation>
A loan that starts as an interest
only payment that then converts
to a regular interest and
principal payment.
</xs:documentation>
<xs:appinfo>
<retsid>101265</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Level-Payment">
<xs:annotation>
<xs:documentation>
A mortgage where the periodic payment
amount is kept constant.
</xs:documentation>
<xs:appinfo>
<retsid>101266</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Open">
<xs:annotation>
<xs:documentation>
A form of fixed rate loan where the
term is short, typically six months
to a year while the amortization
term is long, typically 20 to 40
years.
</xs:documentation>
<xs:appinfo>
<retsid>101267</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Multi-Step">
<xs:annotation>
<xs:documentation>
An adjustable rate mortgage loan that
provides several different options
for payments, typically resulting in
quicker payout.
</xs:documentation>
<xs:appinfo>
<retsid>101268</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Option ARM">
<xs:annotation>
<xs:documentation>
An adjustable rate mortgage loan that
provides several different options
for payments, typically resulting in
quicker payout.
</xs:documentation>
<xs:appinfo>
<retsid>101269</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Price Level Adjusted">
<xs:annotation>
<xs:documentation>
A form of graduated payment mortgage
that the rate of interest remains
constant while the outstanding
principal is adjusted for inflation.
</xs:documentation>
<xs:appinfo>
<retsid>101270</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Piggyback">
<xs:annotation>
<xs:documentation>
Also known as Split-Loan.
A loan where a a large loan is
split into two smaller loans.
Typically, a fixed-rate and
an adjustable-rate loan are offered
without a penalty for the
secondary financing.
</xs:documentation>
<xs:appinfo>
<retsid>101271</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Private">
<xs:annotation>
<xs:documentation>
Also known as hard-money, the mortgage
agreement has been negotiated between
private parties outside the normal
mortgage channels.
</xs:documentation>
<xs:appinfo>
<retsid>101272</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Reverse">
<xs:annotation>
<xs:documentation>
A cash-advance loan secured against
the property that isn't called until
the home-owner moves or dies.
</xs:documentation>
<xs:appinfo>
<retsid>101273</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="RHS">
<xs:annotation>
<xs:documentation>
A loan arranged through the Rural
Housing Service, part of the
US Department of Agriculture.
</xs:documentation>
<xs:appinfo>
<retsid>101274</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Shared Appreciation">
<xs:annotation>
<xs:documentation>
A reduced rate loan where the
reduced rate is offset by a sharing
of the appreciation of the property's
value (principal)
</xs:documentation>
<xs:appinfo>
<retsid>101275</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Two-Step">
<xs:annotation>
<xs:documentation>
A hybrid ARM with a fixed rate
for a part of the term, typically
5 or 7 years, followed by a variable
rate for the remainder of the term.
</xs:documentation>
<xs:appinfo>
<retsid>101276</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="VA">
<xs:annotation>
<xs:documentation>
A loan arranged through the
Veterans Affairs
</xs:documentation>
<xs:appinfo>
<retsid>101277</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="15 year">
<xs:annotation>
<xs:documentation>
</xs:documentation>
<xs:appinfo>
<retsid>101278</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Unknown">
<xs:annotation>
<xs:documentation>
</xs:documentation>
<xs:appinfo>
<retsid>101279</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Other">
<xs:annotation>
<xs:documentation>
</xs:documentation>
<xs:appinfo>
<retsid>101280</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Other-Federal">
<xs:annotation>
<xs:documentation>
</xs:documentation>
<xs:appinfo>
<retsid>101604</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Other-State">
<xs:annotation>
<xs:documentation>
</xs:documentation>
<xs:appinfo>
<retsid>101281</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="Other-VA">
<xs:annotation>
<xs:documentation>
</xs:documentation>
<xs:appinfo>
<retsid>101282</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
<xs:enumeration value="None">
<xs:annotation>
<xs:documentation>
</xs:documentation>
<xs:appinfo>
<retsid>101283</retsid>
</xs:appinfo>
</xs:annotation>
</xs:enumeration>
</xs:restriction>
</xs:simpleContent>
</xs:complexType>
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Facets: