finance_relation
A person's financial position: the assets and debts attached to them, each as its own reference.
Finance_relation contains information about financial assets and debts related to a person.
Why it matters
One person, and references to a property, a mortgage, a loan, a lease, a rent, an automobile, an insurance policy and a tax record, plus a stage value, a feedback value and a main-applicant indicator.
Every item is a reference rather than an embedded field, which is what keeps the class from becoming a wide record that has to be widened again for the next kind of asset. A new asset type is a new class and one more relationship, not a schema change on every consumer.
In practice
The stage value is what makes the record readable mid-application: a position gathered so far is a valid position, not an incomplete one.
Properties
| Property | Type | Definition |
|---|---|---|
feedback_value | enumeration | Feedback value refers to feedback received from the customer. Rate Is Too HighPayment Is Too HighTaxes Surprised MeI Want To Think On It |
has_automobile | automobile | An automobile is a road vehicle, typically with four wheels, powered by an internal combustion engine or electric motor and able to carry a small number of people. A person can have an automobile. If the person owns the automobile outright, it is a financial asset. If the person has taken out a loan to purchase the automobile, it is a financial debt because it represents money that they have borrowed from the lender and must repay over time. |
has_lease | lease | A person can have a lease, which is considered financial debt. A lease is a legally binding agreement between two parties, typically a landlord (lessor) and a tenant (lessee), in which the lessor agrees to rent out a property or asset to the lessee for a specified period of time and under certain conditions. |
has_main_applicant | boolean | The main applicant on a loan application is the person who is financially responsible for repaying the loan. This person is also known as the borrower or the applicant. |
has_rent | rent | A person can owe rent, which is considered financial debt. Rent refers to payments made by a tenant to a landlord in exchange for the use and occupancy of a property or space. Rent can be paid for a variety of properties, including apartments, houses, offices, retail spaces, and more. |
has_stage_value | enumeration | The stage value refers to an applicant's stage in the home buying process. For example, a borrower might be 'just looking' or 'ready to buy.' LearningBrowsingReady to BuyAlready PreApprovedIn ContactRate Shopping |
Relationships
| Property | Points at | Definition |
|---|---|---|
has_insurance | insurance | A person who owns property, an automobile or another financial asset may also have insurance on that asset, which is considered financial debt. Insurance is a policy that provides financial protection for physical assets like homes, or financial assets like mortgages. |
has_loan | loan | A mortgage application has a loan. A loan in a mortgage application refers to the amount of money that a borrower is requesting from a lender to purchase a property. When a borrower submits a mortgage application, they specify the amount of money they need to borrow to purchase the property. |
has_mortgage | loan | A mortgage is a loan that is taken out to purchase a property, typically a home. A person can have a mortgage, which is considered financial debt. |
has_person | person | A member is also a person. |
has_property | property | Property is a piece of land and any structures or improvements that are permanently attached to it. In the context of property tax, a property can have a tax levied against it. The tax is usually assessed and collected by local governments, such as cities or counties, and is used to fund local services such as schools, police and fire departments, road maintenance, and other community services. |
has_tax | tax | A person who owns a financial asset may have to pay taxes on the asset. Taxes are fees levied by federal, state, and local governments on income, goods and services, and property, among other things. In the context of finance, tax is considered a financial debt. |