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EDI 872 Residential Mortgage Insurance Application

Functional Group ME

X12F Finance Subcommittee

This Draft Standard for Trial Use contains the format and establishes the data contents of the Residential Mortgage Insurance Application Transaction Set (872) for use within the context of an Electronic Data Interchange (EDI) environment. This transaction set can be used by a mortgage originator to request mortgage insurance and provide supporting information needed to obtain a mortgage insurance commitment on one or several residential mortgage loans.

Heading

Position
Segment
Name
Max use
  1. To indicate the start of a transaction set and to assign a control number

  2. To indicate the beginning of a transaction set

  3. To identify a party by type of organization, name, and code

    The N1 Segment identifies the transaction requestor and insuror entities.

Detail

Position
Segment
Name
Max use
  1. LX Loop Mandatory
    Repeat >1
    1. To reference a line number in a transaction set

    2. To identify a party by type of organization, name, and code

      The N1 Segment identifies the insured entity.
    3. To specify identifying information

    4. LRQ Loop Mandatory
      Repeat >1
      1. To describe the characteristics of a mortgage requested by the applicant(s)

        The LRQ Loop contains information about the loan, borrower, property, and requested coverage.
      2. To provide high-level information about a loan

      3. To describe terms of a mortgage product

      4. To describe the type and extent of mortgage insurance

      5. To identify a person or office to whom administrative communications should be directed

      6. To specify identifying information

      7. To provide housing expense information

      8. To provide amount or nature of loan down payment

      9. To provide the terms of payment adjustment

      10. To describe terms of rate adjustment

      11. SCM Loop Optional
        Repeat 10
        1. To define the credit score model used and the related score

          The SCM Loop contains scores which pertain to the entire loan.
        2. To identify evaluation factors used in determining an applicant's credit score

      12. NX1 Loop Mandatory
        Repeat 5
        1. To define the attributes of a property or an entity

          The NX1 Loop contains the address of the subject property.
        2. To define types and values of a geographic location

        3. PAS Loop Mandatory
          Repeat 5
          1. To provide high-level information about the property valuation

            The PAS Loop contains the subject property's appraisal information.
          2. To identify a party by type of organization, name, and code

          3. To identify a person or office to whom administrative communications should be directed

          4. To provide a free-form format that allows the transmission of text information

      13. IN1 Loop Mandatory
        Repeat 12
        1. To provide identification of an individual or entity

          The IN1 Loop contains information about the Borrower(s).
        2. To sequence individual name components for maximum specificity

        3. To identify and answer yes and no questions, including the date, time, and comments further qualifying the condition

        4. To supply demographic information

        5. To provide a free-form format that allows the transmission of text information

        6. To indicate line item quantity, description, marks and numbers, commodity code, weight, and customs value

        7. To provide summary totals for borrower's financial position

        8. SCM Loop Optional
          Repeat 10
          1. To define the credit score model used and the related score

            The SCM Loop contains scores for the individual borrower defined in the IN1 Loop.
          2. To identify evaluation factors used in determining an applicant's credit score

        9. NX1 Loop Optional
          Repeat 10
          1. To define the attributes of a property or an entity

            The NX1 Loop contains current and previous address information for the borrower defined in the IN1 Loop.
          2. To define types and values of a geographic location

          3. To indicate line item quantity, description, marks and numbers, commodity code, weight, and customs value

          4. To provide type of residency

      14. REA Loop Optional
        Repeat 1
        1. To provide a description of real estate or general property information

          The REA Loop contains general information about the subject property.
        2. To indicate the total monetary amount

      15. MCD Loop Optional
        Repeat 1
        1. To provide details about loan settlement

          The MCD Loop contains mortgage loan closing information.
        2. To indicate the total monetary amount

      16. BUY Loop Optional
        Repeat 20
        1. To describe the features of a loan buydown

          The BUY Loop defines mortgage loan buydown specifics if applicable.
        2. To indicate amount or period of temporary buydown adjustment

      17. PRJ Loop Optional
        Repeat 1
        1. To describe attributes of a multifamily housing project

          The PRJ Loop contains multifamily housing project information about the subject property.
        2. To identify a person or office to whom administrative communications should be directed

  2. To indicate the end of the transaction set and provide the count of the transmitted segments (including the beginning (ST) and ending (SE) segments)

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