PET - Plain English Taxonomy

Attribute: CS17590
Concept:
Label: Claims secured against non-standard eligible residential mortgages, and which are insured with an acceptable Lenders Mortgage Insurer (LMI)
Concept Guidance:
This is the value, as at the relevant date, of loans and all other claims secured against non-standard eligible residential mortgages, and which are insured with an acceptable Lenders Mortgage Insurer (LMI). For the purposes of this item, lenders mortgage insurance must provide cover for all losses up to at least 40 percent of the higher of the original loan amount and outstanding loan amount. An acceptable LMI must meet APRA's requirements or those of the overseas host supervisor, as detailed in relevant prudential standards.For the purposes of this item, the repayment of funds advanced must have been secured through a non-standard eligible residential mortgage to satisfy the debt in the case of default by the borrower, as determined in accordance with relevant prudential standards.A non-standard eligible mortgage is an eligible mortgage that does not meet the requirements of a standard eligible mortgage, as detailed below.A standard eligible mortgage is defined as a residential mortgage where the reporting party has:- prior to loan approval and as part of the loan origination and approval process, documented, assessed and verified the ability of the borrowers to meet their repayment obligation;- valued any residential property offered as security; and- established that any property offered as security for the loan is readily marketable.The reporting party must also revalue any property offered as security for such loans when it becomes aware of a material change in the market value of property in an area or region. 
Dimensions
Dimension Member Description
(Performing)
This dimension classifies assets according to the likelihood of their full economic benefits being realised.
The data reported relates to performing assets, that is assets that have not been classified as non-performing as defined in Prudential Standard APS 220 Credit Risk Management (APS 220).
(CurrentBookValue)
This dimension identifies the measurement approach used to calculate this amount.
The value reported is the current book value as determined in accordance with relevant prudential standards.The current book value represents the current outstanding amount of an on-balance sheet items including accrued interest or revaluations, and net of any specific provision or associated depreciation.
(SeventyFivePercent)
This dimension is used to categorise on-balance sheet assets and off-balance sheet business (both market-related and non-market-related transactions) according to certain risk categories to broadly reflect their credit risk profiles. These weightings are determined in accordance with relevant prudential standards.
Information in relation to exposures with a credit risk weighting of 75% in accordance with the relevant prudential standards.
(GT80LTE90)
This dimension is used to categorise reported loan information according to the loan-to-valuation ratio (LVR) of the loan product.
Information in relation to loan products with a loan-to-valuation ratio (LVR) of greater than 80% but less than or equal to 90%.The LVR may be based on the valuation at origination or, where relevant, on a subsequent formal revaluation by an independent accredited valuer, as determined in accordance with relevant Prudential Standards.