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Transaction Set
in
X12 Release 004010

260 Application for Mortgage Insurance Benefits

Functional Group MG

This Draft Standard for Trial Use contains the format and establishes the data contents of the Application for Mortgage Insurance Benefits Transaction Set (260) for use within the context of an Electronic Data Interchange (EDI) environment. This transaction set can be used by mortgage lenders to file claims with both government agencies and private mortgage insurers in the event that defaults or foreclosure activity allow for the collection of a third-party guarantee/insurance benefit. The information in a standard format will allow all mortgage insurance claim payments to be requested similarly, whether they be to an investor, insurer, or guarantor.

Heading

Sequence
Segment
Name
Max use
010
Transaction Set HeaderMandatory
Max 1
To indicate the start of a transaction set and to assign a control number
020
Beginning SegmentMandatory
Max 1
To indicate the beginning of a transaction set
0100 Loop
Repeat 7
030
NameMandatory
Max 1
To identify a party by type of organization, name, and code
The 0100 loop identifies the name and address of the sending party, an entity such as the mortgage company, loan servicer, payee or investor, and the receiving party, the mortgage insurer.
040
Additional Name Information
Max 1
To specify additional names or those longer than 35 characters in length
050
Address Information
Max 1
To specify the location of the named party
060
Geographic Location
Max 1
To specify the geographic place of the named party
070
Reference Identification
Max 1
To specify identifying information
The REF segment contains an additional supplemental reference number that identifies only the sender.
080
Administrative Communications Contact
Max 1
To identify a person or office to whom administrative communications should be directed

Detail

Sequence
Segment
Name
Max use
0200 Loop
Repeat >1
010
Claim Status InformationMandatory
Max 1
To indicate the status of a claim for mortgage insurance benefits
The CSI segment identifies the status of the subject claim within the claim process and provides the date associated with that status.
020
Individual or Organizational NameMandatory
Max 2
To supply the full name of an individual or organizational entity
Loop 0200 contains essential information about the subject real estate property. The NM1 segment provides the name of the mortgagor(s).
030
Reference IdentificationMandatory
Max 6
To specify identifying information
The REF segment contains reference numbers that are case-specific.
040
Address InformationMandatory
Max 1
To specify the location of the named party
The N3 and N4 segments refer to the location of the real estate property.
050
Geographic LocationMandatory
Max 1
To specify the geographic place of the named party
060
Date or Time or Period
Max 2
To specify any or all of a date, a time, or a time period
070
Interest
Max 24
To specify interest rate and type and the applicable time period
080
Mortgage Insurance Response
Max 1
To determine if mortgage insurance has been approved or declined, and if approved, supply details about the coverage
085
Administrative Communications Contact
Max 5
To identify a person or office to whom administrative communications should be directed
086
Percent Amounts
Max 1
To qualify percent amounts and supply percent amounts
090
Note/Special Instruction
Max 30
To transmit information in a free-form format, if necessary, for comment or special instruction
0210 Loop
Repeat 1
100
Default Information
Max 1
To specify mortgage loan default information
110
Date or Time or PeriodMandatory
Max 19
To specify any or all of a date, a time, or a time period
120
Monetary AmountMandatory
Max 4
To indicate the total monetary amount
0220 Loop
Repeat 1
130
Real Estate Condition
Max 1
To indicate the condition of real estate property and, if applicable, the actions needed to correct damage
140
Monetary Amount
Max 6
To indicate the total monetary amount
150
Date or Time or Period
Max 4
To specify any or all of a date, a time, or a time period
0221 Loop
Repeat 1
160
Foreclosure
Max 1
To specify legal outcome and impact of foreclosure on a lender's claim for mortgage insurance benefits
170
Date or Time or Period
Max 5
To specify any or all of a date, a time, or a time period
0230 Loop
Repeat 100
180
Mortgage Loan Fiscal Data
Max 1
To specify mortgage loan fiscal data when applying for insurance claim benefits
The 0230 loop will provide information on mortgage loan fiscal data, such as the fiscal data item name, the credit, debit, and interest amounts associated with the fiscal data item, and the date or time period covered.
190
Date or Time or Period
Max 1
To specify any or all of a date, a time, or a time period
195
Message Text
Max 1
To provide a free-form format that allows the transmission of text information
200
Transaction Set TrailerMandatory
Max 1
To indicate the end of the transaction set and provide the count of the transmitted segments (including the beginning (ST) and ending (SE) segments)
Stedi is a registered trademark of Stedi, Inc. Stedi's EDI Reference and Mapping Guides are provided for marketing purposes and are free of charge. All names, logos, and brands of third parties listed on our site are trademarks of their respective owners (including “X12”, which is a trademark of X12 Incorporated). Stedi, Inc. and its products and services are not endorsed by, sponsored by, or affiliated with these third parties. Our use of these names, logos, and brands is for identification purposes only, and does not imply any such endorsement, sponsorship, or affiliation.
Stedi is a registered trademark of Stedi, Inc. Stedi's EDI Reference and Mapping Guides are provided for marketing purposes and are free of charge. All names, logos, and brands of third parties listed on our site are trademarks of their respective owners (including “X12”, which is a trademark of X12 Incorporated). Stedi, Inc. and its products and services are not endorsed by, sponsored by, or affiliated with these third parties. Our use of these names, logos, and brands is for identification purposes only, and does not imply any such endorsement, sponsorship, or affiliation.