EDI 264 Mortgage Loan Default Status

Functional Group MG

X12F Finance Subcommittee

This Draft Standard for Trial Use contains the format and establishes the data contents of the Mortgage Loan Default Status Transaction Set (264) for use within an Electronic Data Interchange (EDI) environment. This package of information in the standard format will allow all notifications of mortgage loan default/foreclosure status to be filed similarly, whether they be to an insurer or guarantor. The transaction set can be used to initiate two types of monthly reports (monthly and quarterly) that will facilitate monitoring of delinquent mortgage loans. This transaction set is expected to be used by mortgage lenders to submit advance notification of delinquent mortgage loans that could potentially result in foreclosure activity leading to the collection of a third-party guarantee/insurance benefit. This standard can be used by mortgage lenders to file default status reports with both government agencies and private mortgage insurers.

Heading

1. 010 · ST · Transaction Set Header · Max 1 · Mandatory

   To indicate the start of a transaction set and to assign a control number

2. 020 · BGN · Beginning Segment · Max 1 · Mandatory

   To indicate the beginning of a transaction set.

   The BGN segment indicates whether the set is a corrected and verified or an advance notification transmission.

3. 030 · MIS · Mortgagee Information Status · Max 1 · Optional

   To provide information indicating status in mortgagee name, address, or name and address

   The MIS segment provides information on the name and address change of the sending party.

4. 0100 Loop Mandatory Repeat 2

   1. 040 · N1 · Name · Max 1 · Mandatory

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

      Loop 0100 identifies the sending and or the receiving parties.

   2. 050 · N2 · Additional Name Information · Max 1 · Optional

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

   3. 060 · N3 · Address Information · Max 1 · Optional

      To specify the location of the named party

   4. 070 · N4 · Geographic Location · Max 2 · Optional

      To specify the geographic place of the named party

      N4 may also contain the geographical location of the sender's principal servicing office, if any.

   5. 080 · PER · Administrative Communications Contact · Max 2 · Optional

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

Detail

1. 0200 Loop Mandatory Repeat >1

   1. 010 · LX · Assigned Number · Max 1 · Mandatory

      To reference a line number in a transaction set.

      Each iteration of loop 0200 is used to provide mortgagee information associated with a specific group of mortgages.

   2. 015 · DTP · Date or Time or Period · Max 1 · Optional

      To specify any or all of a date, a time, or a time period

      Segment DTP contains the reporting date of the loan defaults.

   3. 020 · N1 · Name · Max 1 · Optional

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

   4. 030 · N2 · Additional Name Information · Max 1 · Optional

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

   5. 040 · N3 · Address Information · Max 1 · Optional

      To specify the location of the named party

   6. 050 · N4 · Geographic Location · Max 1 · Optional

      To specify the geographic place of the named party

   7. 060 · REF · Reference Numbers · Max 2 · Optional

      To specify identifying numbers.

   8. 070 · PER · Administrative Communications Contact · Max 2 · Mandatory

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

   9. 080 · QTY · Quantity · Max 2 · Optional

      To specify quantity information.

   10. 090 · AMT · Monetary Amount · Max 2 · Optional

       To indicate the total monetary amount.

   11. 0210 Loop Mandatory Repeat >1

       1. 100 · DTP · Date or Time or Period · Max 1 · Mandatory

          To specify any or all of a date, a time, or a time period

          Loop 0210 is used to provide detail loan default information on a specific mortgage loan.
          The DTP segment contains the reporting date or a key loan associated date for the loan default.

       2. 110 · REF · Reference Numbers · Max 10 · Mandatory

          To specify identifying numbers.

          The REF segment provides the associated reference numbers for a specific mortgage loan.

       3. 0211 Loop Mandatory Repeat >1

          1. 120 · N1 · Name · Max 1 · Mandatory

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

             Loop 0211 provides information on the mortgagor, or the property owner, or the investor.

          2. 130 · N2 · Additional Name Information · Max 1 · Optional

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

          3. 140 · N3 · Address Information · Max 1 · Optional

             To specify the location of the named party

             The N3 and N4 segments contain the address information for the property.

          4. 150 · N4 · Geographic Location · Max 1 · Optional

             To specify the geographic place of the named party

          5. 160 · PER · Administrative Communications Contact · Max 2 · Optional

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

       4. 170 · LS · Loop Header · Max 1 · Optional

          To indicate that the next segment begins a loop

       5. 0212 Loop Optional Repeat 1

          1. 180 · REC · Real Estate Condition · Max 1 · Mandatory

             To indicate the condition of real estate property

             Loop 0212 contains detail loan default and foreclosure information on a specific mortgage loan.
             The REC segment provides information on the real estate condition of the property. REC04 and REC05 provide information on damage and number of living units on the property and are not used in transaction set 264.

          2. 190 · N3 · Address Information · Max 1 · Optional

             To specify the location of the named party

             The N3 and N4 segments provide the address information for the property.

          3. 200 · N4 · Geographic Location · Max 1 · Optional

             To specify the geographic place of the named party

          4. 210 · DFI · Default Information · Max 1 · Optional

             To specify mortgage loan default information

             The DFI, QTY, AMT, INT, SOM, DTP and MRC segments provide detail default information on the mortgage loan.

          5. 220 · QTY · Quantity · Max 1 · Optional

             To specify quantity information.

          6. 230 · AMT · Monetary Amount · Max 10 · Optional

             To indicate the total monetary amount.

          7. 240 · INT · Interest · Max 1 · Optional

             To specify interest rate and type and the applicable time period

          8. 250 · SOM · Status of Mortgage · Max 1 · Optional

             To provide information on the status of a mortgage and the date actions were taken regarding the loan and the property

          9. 260 · DTP · Date or Time or Period · Max 14 · Optional

             To specify any or all of a date, a time, or a time period

          10. 270 · MRC · Mortgagor Response Characteristics · Max 2 · Optional

              To provide information on mortgagor responses and number of contacts made with a mortgagor

          11. 280 · MSG · Message Text · Max 11 · Optional

              To provide a free form format that would allow the transmission of text information.

              The MSG segment provides loan detail remarks or comments.

       6. 290 · LE · Loop Trailer · Max 1 · Optional

          To indicate that the loop immediately preceding this segment is complete

Summary

1. 010 · QTY · Quantity · Max 2 · Optional

   To specify quantity information.

   QTY and AMT provide loan administration summaries for all mortgages reported in Table 2.

2. 020 · AMT · Monetary Amount · Max 2 · Optional

   To indicate the total monetary amount.

3. 030 · SE · Transaction Set Trailer · Max 1 · Mandatory

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