Financial Risk and Mortgage Ontology
type: Ontology
imports: time
creator: Nizar Al-Ahmad et al.
description: Extends selected FIBO concepts for mortgage and financial risk modelling (ISO 31000–aligned).
source: EDMC Financial Industry Business Ontology (FIBO)
comment: Ontology for organisational structure, financial risks, and mortgage product lifecycle.
comment: This ontology reuses and extends concepts from the EDMC FIBO ontologies.

controls
type: ObjectProperty
inverse of: controlled by

risk assessed by
type: ObjectProperty
inverse of: assesses risk
domain: Risk
range: Risk Assessment

a risk to
type: ObjectProperty
inverse of: has risk source

action of
type: ObjectProperty
inverse of: has action

applicant of
type: ObjectProperty
inverse of: has applicant

application of
type: ObjectProperty
inverse of: has application

assessed by
type: ObjectProperty
inverse of: assesses

assesses
type: ObjectProperty
domain: Value Assessment
range: Asset

assesses risk
type: ObjectProperty

asset recovered by
type: ObjectProperty
inverse of: recovers asset

belongs to
type: ObjectProperty
domain: Loan Schedule
range: Mortgage Contract

causes risk source
type: ObjectProperty
inverse of: risk caused by

changed by
type: ObjectProperty
inverse of: changes

changes
type: ObjectProperty
domain: Document Check
range: Risk Level

closed by
type: ObjectProperty
inverse of: closes

closes
type: ObjectProperty
domain: Foreclosure Event
range: Thing

collateral of
type: ObjectProperty
inverse of: holds collateral

concerned by
type: ObjectProperty
inverse of: concerns

concerns
type: ObjectProperty
domain: Risk
range: Thing

controlled by
type: ObjectProperty
domain: Risk
range: Control Action

covered by
type: ObjectProperty
inverse of: covers

covers
type: ObjectProperty
domain: Purchase Insurance
range: Mortgage Risk

decreased by
type: ObjectProperty
inverse of: decreases

decreases
type: ObjectProperty
domain: Thing
range: Credit Balance

defined by
type: ObjectProperty
inverse of: defines payment

defines payment
type: ObjectProperty
domain: Loan Schedule
range: Payment

guarantees
type: ObjectProperty
inverse of: has guarantor

has account holder
type: ObjectProperty
inverse of: holds account
domain: Account
range: Person

has action
type: ObjectProperty
domain: Risk Treatment
range: Control Action

has amortisation type
type: ObjectProperty
domain: Mortgage Contract
range: Amortisation

has applicant
type: ObjectProperty
domain: Mortgage Application
range: Person

has application
type: ObjectProperty
domain: Mortgage
range: Mortgage Application

has arrears
type: ObjectProperty
domain: Loan Account
range: Arrears

has balance
type: ObjectProperty
domain: Loan Account
range: Credit Balance

has expenses
type: ObjectProperty
domain: Borrower
range: Expenses

has guarantor
type: ObjectProperty
domain: Mortgage Contract
range: Person

has ID
type: ObjectProperty
inverse of: ID of
domain: Person
range: Identity Document

has income
type: ObjectProperty
domain: Borrower
range: Income

has liability
type: ObjectProperty
domain: Borrower
range: Liability

has location
type: ObjectProperty
inverse of: located at

has next stage
type: ObjectProperty
domain: Life Cycle Stage
range: Life Cycle Stage

has previous stage
type: ObjectProperty
domain: Life Cycle Stage
range: Life Cycle Stage

has risk
type: ObjectProperty
inverse of: is risk of
domain: Thing
range: Risk

has risk level
type: ObjectProperty
inverse of: level of risk
domain: Risk
range: Risk Level

has risk source
type: ObjectProperty
domain: Risk
range: Risk Source

has role
type: ObjectProperty
inverse of: role of
domain: Person
range: Role

has stage
type: ObjectProperty
domain: Financial Product
range: Life Cycle Stage

has treatment
type: ObjectProperty
inverse of: treated by
domain: Risk
range: Risk Treatment

holds account
type: ObjectProperty

holds collateral
type: ObjectProperty
domain: Mortgage Contract
range: Asset

ID of
type: ObjectProperty

implemented by
type: ObjectProperty
inverse of: implements
domain: Risk Treatment
range: Control Action

implements
type: ObjectProperty

in stage
type: ObjectProperty
domain: Thing
range: Life Cycle Stage

increased by
type: ObjectProperty
inverse of: increases

increases
type: ObjectProperty
domain: Thing
range: Thing

involves
type: ObjectProperty
inverse of: step of
domain: Thing
range: Thing

is risk of
type: ObjectProperty

issued by
type: ObjectProperty
inverse of: issues

issued by (insurance)
type: ObjectProperty
domain: Purchase Insurance
range: Insurance Company

issued by organisation
type: ObjectProperty
inverse of: organisation issues
domain: Contract Document
range: Organisation

issues
type: ObjectProperty
domain: Value Assessment
range: Assessment Report

level of risk
type: ObjectProperty

located at
type: ObjectProperty
domain: Thing
range: Address

offers product
type: ObjectProperty
inverse of: product offered by
domain: Organisation
range: Financial Product

opened by
type: ObjectProperty
inverse of: opens

opens
type: ObjectProperty
domain: Mortgage Contract
range: Loan Account

organisation issues
type: ObjectProperty

owned by
type: ObjectProperty
inverse of: owns

owns
type: ObjectProperty
domain: Person
range: Asset

paid by
type: ObjectProperty
inverse of: pays
domain: Loan Account
range: Payment

pays
type: ObjectProperty

product offered by
type: ObjectProperty

provided by
type: ObjectProperty
inverse of: provides

provides
type: ObjectProperty
domain: Property Inspection
range: Value Assessment

receives transfer
type: ObjectProperty
inverse of: transfers to

recommends treatment
type: ObjectProperty
inverse of: treatment recommended by
domain: Risk Assessment
range: Risk Treatment

recovers asset
type: ObjectProperty
domain: Foreclosure Event
range: Asset

required for
type: ObjectProperty
inverse of: requires

requires
type: ObjectProperty
domain: Mortgage Application
range: Thing

risk caused by
type: ObjectProperty
domain: Risk Source
range: Risk Source

role of
type: ObjectProperty

signed by
type: ObjectProperty
inverse of: signs
domain: Contract Document
range: Thing

signs
type: ObjectProperty

starts contract
type: ObjectProperty
domain: Mortgage Application
range: Mortgage Contract

step of
type: ObjectProperty

transfers to
type: ObjectProperty
domain: Control Action
range: Organisation

treated by
type: ObjectProperty

treatment recommended by
type: ObjectProperty

triggered by
type: ObjectProperty
inverse of: triggers

triggers
type: ObjectProperty
domain: Thing
range: Thing

Accept Risk
type: Class
subclass of: Risk Treatment

Account
type: Class
comment: Container for records associated with a business arrangement for regular transactions and services. In general, account will have a subclass that represents the account type and will be related to a person who is the account holder; it will have an account number, balance and interest rate associated with it.

Account Statement
type: Class
subclass of: Record
comment: Periodic summary of account activity for a given period of time.

Address
type: Class
subclass of: Location
comment: A structured set of information that describes the location of a place or property, typically including street, city, postal code, and country.

Adjust Interest Rate
type: Class
subclass of: Control Action

Agreement Document
type: Class
subclass of: Legal Document
comment: A legal document used to verify an agreement between two or more parties.

Amortisation
type: Class
comment: A structured process of repaying a loan or debt over time through scheduled periodic payments that cover interest and typically portions of the principal amount.

Application Rejection
type: Class
subclass of: Control Action

Application Stage
type: Class
subclass of: Life Cycle Stage

Arrears
type: Class
comment: The state of being behind in fulfilling financial obligations, such as missed or overdue loan or mortgage payments.

Arrears Limit Exceeded
type: Class
subclass of: Risk Source

Arrears Risk
type: Class
subclass of: Risk
comment: The risk that accumulated unpaid obligations or overdue payments lead to loan delinquency, legal action, or foreclosure.

Assessment Event
type: Class
subclass of: Occurrence
comment: Event involving the evaluation or estimation of the nature, quality, or ability of someone or something.

Assessment Report
type: Class
subclass of: Report
comment: A report indicating the details of an assessed asset and its estimated value and condition.

Asset
type: Class
comment: Something of economic value owned or controlled by an entity that is expected to provide future benefit.

Asset Risk
type: Class
subclass of: Risk
comment: The risk of financial loss arising from the reduction in value, impairment, or loss of an asset used as collateral for a mortgage or loan.

Avoid Risk
type: Class
subclass of: Risk Treatment

Bad Record
type: Class
subclass of: Risk Source

Balance
type: Class
comment: A quantified statement of the amount of money held in an account at a given point in time, representing either a credit or debit position.

Balloon Amortisation
type: Class
subclass of: Amortisation

Bank
type: Class
subclass of: Organisation
comment: The commercial name of the organisational body of the institute.

Birth Certificate
type: Class
subclass of: Certificate
comment: Original document certifying the circumstances of the birth, or a certified copy or representation of the ensuing registration of that birth.

Bond
type: Class
subclass of: Financial Instrument
comment: A debt security under which the issuer owes the holders a debt and is obliged to pay interest and repay the principal at a later date, known as maturity.

Borrower
type: Class
subclass of: Role
comment: A party that receives money or other assets under a loan agreement and is obligated to repay them under specified terms.

Business Unit
type: Class
subclass of: Organisation
comment: A part of an organisational structure where financial operations are made.

Calculation
type: Class
subclass of: Occurrence
comment: Actual execution of some computation or operation that was scheduled or triggered by something.

Certificate
type: Class
subclass of: Document
comment: Document attesting to the truth of some fact or set of facts.

Contract Document
type: Class
subclass of: Legal Document
comment: Legal document that records the formal terms and conditions of some contract.

Contract Termination
type: Class
subclass of: Control Action

Control Action
type: Class
comment: An intentional act or measure taken to influence, adjust, or manage a financial process, risk, or contractual condition.

Credit Balance
type: Class
subclass of: Balance

Credit Card Account
type: Class
subclass of: Loan or Credit Account
comment: An account maintained by a financial institution that records transactions and credit extended to a cardholder under a revolving line of credit, including purchases, repayments, interest, and fees.

Credit Check
type: Class
comment: An evaluation of a borrower’s credit history and financial reliability conducted to assess their ability to repay a loan or mortgage.

Credit Check Risk
type: Class
subclass of: Risk
comment: The risk associated with incorrect or incomplete assessment of a borrower's creditworthiness, leading to potential default or mispricing of credit.

Credit Score
type: Class
comment: A numerical expression derived from a borrower’s credit information that represents their creditworthiness and likelihood of meeting debt obligations.

Currency
type: Class
subclass of: Financial Instrument
comment: A system of money in common use, typically issued by a government or monetary authority, serving as a medium of exchange and unit of account.

Death Certificate
type: Class
subclass of: Certificate
comment: Original document certifying the circumstances of the death, or a certified copy or representation of the ensuing registration of that death.

Debt Balance
type: Class
subclass of: Balance

Default Notice
type: Class
subclass of: Notice
comment: A notice given to a person before taking over an asset to recover the loan account, indicating failure to make required payments for a number of times.

Default Recovery Stage
type: Class
subclass of: Life Cycle Stage

Degradation In Asset Value
type: Class
subclass of: Risk Source

Delinquency Status
type: Class
subclass of: Life Cycle Stage
comment: A lifecycle stage representing that the loan is past due or in arrears, but not yet fully resolved or recovered.

Deposit Account
type: Class
subclass of: Investment or Deposit Account
comment: Account that provides a record of money placed with a depository institution for safekeeping and management.

Derivative
type: Class
subclass of: Financial Instrument
comment: A financial instrument whose value is derived from the value of one or more underlying assets, rates, or indices.

Document
type: Class
comment: Unitary expression of some realization of an intellectual or artistic work. A document, especially a legal document, may serve to establish one or several facts, and can be relied upon as a proof thereof.

Document Check
type: Class
subclass of: Credit Check
comment: A verification process confirming the authenticity, completeness, and validity of submitted identification and financial documents in a mortgage or loan application.

Document Check Risk
type: Class
subclass of: Risk
comment: The risk arising from inaccurate, falsified, or incomplete documentation provided during the mortgage or loan verification process.

Driver Licence
type: Class
subclass of: Identity Document
comment: Official document stating that a person may operate a motorized vehicle on a public roadway or provides official identifying information for a non-driver.

Due Payment
type: Class
subclass of: Payment
comment: A payment that was made on or before its due date.

Early Payment
type: Class
subclass of: Payment
comment: A payment that was made before the due date.

Expenses
type: Class
comment: Recurring or one-off monetary outflows incurred by a borrower or entity, such as living costs, debt repayments, or other financial obligations that reduce disposable income.

Exposure
type: Class
comment: A state or condition in which an entity is subject to potential loss, harm, or risk due to its involvement in or relationship with another entity, activity, or event.

Foreign Exchange (FX)
type: Class
subclass of: Financial Product
comment: The exchange of one currency for another, typically conducted through spot or derivative transactions in the foreign exchange market.

Fee Payment
type: Class
subclass of: Payment
comment: Payment of fees or charges.

Financial Exposure
type: Class
subclass of: Exposure
comment: The extent to which a party is subject to potential monetary loss arising from market movements, credit events, liquidity changes, or other financial risks.

Financial Instrument
type: Class
comment: A contractual arrangement that represents a financial asset to one party and a financial liability or equity instrument to another.

Financial Product
type: Class
subclass of: Product
comment: Product provided to consumers and businesses by a depository institution.

Financial Record
type: Class
subclass of: Record
comment: A summary of all previous financial record for a person.

Fixed Amortisation
type: Class
subclass of: Amortisation

Fixed Interest
type: Class
subclass of: Interest

Foreclosure Event
type: Class
subclass of: Occurrence
comment: An event indicating taking over an asset due to failure of a number of payments.

Fraudulent Document
type: Class
subclass of: Risk Source

Guarantor
type: Class
subclass of: Role
comment: A party that undertakes to fulfil the obligations of a borrower if that borrower fails to do so under the terms of a financial contract.

High Risk Level
type: Class
subclass of: Risk Level

Identity Document
type: Class
subclass of: Legal Document
comment: Any legal document which may be used to verify aspects of a person's identity.

Income
type: Class
comment: Any monetary amount received by an individual or entity from employment, investments, financial products, or other sources within a defined period. A key attribute influencing affordability, repayment capacity, and exposure to credit risk.

Increase Collateral
type: Class
subclass of: Control Action

Indexed Interest
type: Class
subclass of: Interest

Insecure Application
type: Class
subclass of: Risk Source

Insurance Company
type: Class
subclass of: Organisation
comment: A financial institution that provides insurance services by underwriting risk in exchange for premiums, and compensates policyholders or beneficiaries in the event of specified losses or events.

Interest
type: Class
comment: A charge for the use of borrowed money, typically expressed as a percentage of the principal amount over a specified period.

Interest Only Amortisation
type: Class
subclass of: Amortisation

Interest Rate Calculation
type: Class
subclass of: Calculation
comment: Event reflecting the calculation of interest.

Interest Rate Reset
type: Class
subclass of: Calculation
comment: Event reflecting a potential adjustment to an interest rate, typically corresponding to a change in the underlying benchmark interest rate or index specified in the contract.

Investment Account
type: Class
subclass of: Investment or Deposit Account
comment: Account that provides a record of deposits of funds and/or securities held at a financial institution. Objectives are typically long term growth, income or capital preservation from the deposited asset portfolio; investment accounts are typically not insured.

Investment or Deposit Account
type: Class
subclass of: Account

Late Payment
type: Class
subclass of: Payment
comment: A payment that was made after the indicated due date.

Late Payment Event
type: Class
subclass of: Risk Source

Late Payment Risk
type: Class
subclass of: Risk
comment: The risk that a borrower delays scheduled payments beyond their due date, causing potential penalties, interest accumulation, or credit score degradation.

Ledger Account
type: Class
subclass of: Account
comment: Account recorded in a general ledger.

Legal Document
type: Class
subclass of: Document
comment: Document specifying the terms of, or providing evidence for, an agreement, attestation, certification, conditions, permissions, and/or decisions of legal persons, government entities, or courts of law.

Liability
type: Class
comment: A financial obligation or debt owed by a borrower or entity to another party, requiring future payments of cash, goods, or services.

Life Cycle Stage
type: Class
comment: A distinct phase in the operational, contractual, or financial life of a product or service that delineates its status, activities, and responsibilities within an overall process.

Loan Account
type: Class
subclass of: Loan or Credit Account
subclass of: Restriction
  on property: has balance
  qualified cardinality: 1
  on class: Credit Balance
subclass of: Restriction
  on property: has arrears
  max qualified cardinality: 1
  on class: Arrears
comment: An account established by a lender to record the principal, interest, and payment history associated with a specific loan granted to a borrower.

Loan or Credit Account
type: Class
subclass of: Account

Loan Schedule
type: Class
subclass of: Restriction
  on property: belongs to
  qualified cardinality: 1
  on class: Mortgage Contract
comment: A structured plan that specifies the sequence, timing, and amount of payments required to repay a loan or mortgage.

Loan Servicing
type: Class
subclass of: Occurrence
comment: The ongoing management of the loan between disbursement and payoff.

Location
type: Class
comment: A geographical place or position that can be identified within a spatial reference system.

Low Risk Level
type: Class
subclass of: Risk Level

Medium Risk Level
type: Class
subclass of: Risk Level

Missed Payment
type: Class
subclass of: Payment
comment: A payment that was not made.

Missing Payment Event
type: Class
subclass of: Risk Source

Missing Payment Risk
type: Class
subclass of: Risk
comment: The risk that a borrower fails to make one or more required loan or mortgage payments, resulting in arrears or default.

Mitigate Risk
type: Class
subclass of: Risk Treatment

Mortgage
type: Class
subclass of: Financial Product
subclass of: Restriction
  on property: has application
  min qualified cardinality: 1
  on class: Mortgage Application
comment: A loan secured by real property, under which the borrower gives the lender a lien on the property as collateral for the debt.

Mortgage Application
type: Class
subclass of: Restriction
  on property: has applicant
  min qualified cardinality: 1
  on class: Person
comment: A formal request submitted by a borrower to a lender for a mortgage loan, including personal, financial, and property information used in credit and risk assessment.

Mortgage Contract
type: Class
subclass of: Contract Document
subclass of: Restriction
  on property: holds collateral
  min qualified cardinality: 1
  on class: Asset
subclass of: Restriction
  on property: opens
  qualified cardinality: 1
  on class: Loan Account
comment: A contract document detailing the contract for a mortgage, including parties, upfront payment, interest rate, late payment fees, arrears allowed before foreclose, start date, end date and collateral.

Mortgage Risk
type: Class
subclass of: Risk
comment: The potential for financial loss or adverse impact associated with a mortgage agreement, including credit, property, and payment-related uncertainties.

Negative Amortisation
type: Class
subclass of: Amortisation

Notice
type: Class
subclass of: Document
comment: Announcement, communication, intimation, or advance warning of something, usually, but not necessarily, to allow preparations to be made.

Occurrence
type: Class
comment: Happening of an Occurrence Kind, i.e., an event.

Organisation
type: Class
comment: A large body of smaller institutes responsible for financial operations.

Passport
type: Class
subclass of: Identity Document
comment: Formal identity document, issued by a national government, which certifies the identity and nationality of its holder for the purpose of international travel.

Payment
type: Class
subclass of: Transaction
comment: Delivery of money in fulfilment of an obligation, such as to satisfy a claim or debt.

Payment Account
type: Class
subclass of: Account
comment: An account used to execute payment transactions, such as the deposit and withdrawal of funds, and to store money available for immediate use through instruments like debit cards, transfers, or direct debits.

Person
type: Class
subclass of: Restriction
  on property: has ID
  min qualified cardinality: 1
  on class: Identity Document
comment: A human being considered as an individual legal or natural person capable of entering into agreements and holding rights or obligations.

Product
type: Class
comment: Commercially distributed good that is tangible property, the output of a production process, or something that passes through a distribution channel before being consumed or used.

Property
type: Class
subclass of: Asset
comment: A tangible or intangible thing owned by a person or organization, over which ownership rights or interests are held.

Property Inspection
type: Class
subclass of: Assessment Event
comment: Event that involves analysing one or more aspects of a real property.

Purchase Insurance
type: Class
subclass of: Control Action

Rating
type: Class
subclass of: Credit Score
comment: A qualitative or quantitative evaluation assigned to an entity, asset, or exposure reflecting its credit quality, performance, or risk profile.

Record
type: Class
subclass of: Document
comment: Memorialization and objective evidence of activities performed, events occurred, results achieved, or statements made, regardless of its characteristics, media, physical form, or the manner in which it is recorded or stored.

Record Check
type: Class
subclass of: Credit Check
comment: An evaluation of an applicant’s past records or history, such as payment performance or legal standing, as part of a credit or mortgage assessment.

Report
type: Class
subclass of: Document
comment: Document that provides a structured description of something, prepared on ad hoc, periodic, recurring, regular, or as required basis.

Reschedule Payment
type: Class
subclass of: Control Action

Risk
type: Class
comment: The possibility of an event or condition that, if it occurs, has a negative impact on objectives, outcomes, or value.

Risk Assessment
type: Class
subclass of: Assessment Event
comment: An event indicating the evaluation of risk for a whole or part of a product life cycle.

Risk Level
type: Class
comment: A qualitative or quantitative categorization of the magnitude or severity of a risk, typically derived from the combination of likelihood and impact assessments.

Risk Source
type: Class
comment: Sources of the risks associated with the lifecycle stages.

Risk Treatment
type: Class
comment: A process, action, or set of measures intended to modify a risk by reducing, avoiding, transferring, or accepting it.

Role
type: Class
comment: A function, capacity, or position that a party assumes in a given context, defining its responsibilities, rights, or relationships.

Servicing Stage
type: Class
subclass of: Life Cycle Stage

Equity Instrument (Stock)
type: Class
subclass of: Financial Instrument
comment: A financial instrument that signifies ownership interest in a company or entity, representing a claim on part of its assets and earnings.

Transaction
type: Class
subclass of: Occurrence
comment: An event that indicates movement of finances in or out of an account.

Transaction Record
type: Class
subclass of: Record
comment: A record for all previous transactions made by a person.

Transfer
type: Class
subclass of: Transaction
comment: Transfer of funds between accounts.

Transfer To
type: Class
subclass of: Control Action

Transfer Risk
type: Class
subclass of: Risk Treatment

Underwriting Stage
type: Class
subclass of: Life Cycle Stage

Value Assessment
type: Class
subclass of: Assessment Event
comment: Assessment event to estimate the value of something.

Variable Interest
type: Class
subclass of: Interest