EDI 872 Residential Mortgage Insurance Application

Functional Group PM

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. N1 Loop Mandatory
    Repeat 5
    1. To identify a party by type of organization, name and code

      Use this N1 loop to identify transaction requestor and insuror entities.
    2. To specify additional names or those longer than 35 characters in length

    3. To specify identifying numbers.

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

    5. N4 Loop Optional
      Repeat 5
      1. To specify the geographic place of the named party

      2. To specify the location of the named party

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

      Use this N1 loop to identify the insured entity.
    3. To specify additional names or those longer than 35 characters in length

    4. To specify the location of the named party

    5. To specify the geographic place of the named party

    6. To specify identifying numbers.

    7. MII Loop Mandatory
      Repeat >1
      1. To provide the type and extent of mortgage insurance

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

      3. To describe the characteristics of a mortgage requested by the applicant(s)

      4. To specify identifying numbers.

      5. To provide housing expense information

      6. To provide high level information about a loan

      7. To provide amount or nature of loan down payment

      8. To describe terms of a mortgage product

      9. To provide the terms of payment adjustment

      10. To describe terms of rate adjustment

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

        2. To indicate the total monetary amount.

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

        2. To indicate the total monetary amount.

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

        2. To indicate amount or period of temporary buydown adjustment

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

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

      15. PWK Loop Optional
        Repeat 10
        1. To identify the type and transmission of paperwork or supporting information

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

        3. To specify additional names or those longer than 35 characters in length

        4. To specify the location of the named party

        5. To specify the geographic place of the named party

        6. To specify identifying numbers.

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

      16. NX1 Loop Mandatory
        Repeat 5
        1. To define type of real estate property

        2. To define types and values for geographic location of real estate property

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

          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 would allow the transmission of text information.

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

        2. To sequence individual name components for maximum specificity

        3. To supply demographic information

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

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

  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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