EDI 261 Residential Appraisal Request

Functional Group ME

X12F Finance Subcommittee

This Draft Standard for Trial Use (DSTU) contains the format and establishes the data contents of the Residential Appraisal Request Transaction Set (261) for use within the context of an Electronic Data Interchange (EDI) environment. This transaction set can be used to initiate, modify, or cancel a request for residential appraisal. The transaction set will be used to transfer information among mortgage lenders, real estate agents, appraisal companies, and other interested parties.

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

3. 025 · TRN · Trace · Max 1 · Optional

   To uniquely identify a transaction to an application

4. N1 Loop Optional Repeat 3

   1. 030 · N1 · Name · Max 1 · Mandatory

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

      The N1 loop is used to provide sender, receiver, and third party information.

   2. 040 · N2 · Additional Name Information · Max 1 · Optional

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

   3. 050 · N3 · Address Information · Max 2 · Optional

      To specify the location of the named party

   4. 060 · N4 · Geographic Location · Max 1 · Optional

      To specify the geographic place of the named party

   5. 070 · REF · Reference Identification · Max 1 · Optional

      To specify identifying information

   6. 080 · PER · Administrative Communications Contact · Max 10 · Optional

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

Detail

1. LX Loop Mandatory Repeat >1

   1. 005 · LX · Assigned Number · Max 1 · Mandatory

      To reference a line number in a transaction set

      The LX loop contains all information necessary to complete an appraisal request.

   2. 010 · DTP · Date or Time or Period · Max 1 · Mandatory

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

   3. 020 · REF · Reference Identification · Max 7 · Mandatory

      To specify identifying information

   4. NM1 Loop Mandatory Repeat 3

      1. 030 · NM1 · Individual or Organizational Name · Max 1 · Mandatory

         To supply the full name of an individual or organizational entity

         The NM1 loop is used to identify multiple appraisal report ship-to and bill-to parties and any interested parties.

      2. 040 · N2 · Additional Name Information · Max 1 · Optional

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

      3. 050 · N3 · Address Information · Max 2 · Optional

         To specify the location of the named party

      4. 060 · N4 · Geographic Location · Max 1 · Optional

         To specify the geographic place of the named party

      5. 070 · REF · Reference Identification · Max 1 · Optional

         To specify identifying information

      6. 080 · PER · Administrative Communications Contact · Max 10 · Optional

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

   5. NX1 Loop Mandatory Repeat >1

      1. 090 · NX1 · Property or Entity Identification · Max 1 · Mandatory

         To define the attributes of a property or an entity

         The NX1 loop contains information on the property to be appraised and supplies a completed checklist of all relevant documents required by the appraiser for the property appraisal.

      2. 100 · NX2 · Real Estate Property ID Component · Max 7 · Mandatory

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

      3. 110 · DTP · Date or Time or Period · Max 7 · Mandatory

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

      4. 115 · PWK · Paperwork · Max >1 · Optional

         To identify the type and transmission of paperwork or supporting information

      5. 120 · YNQ · Yes/No Question · Max 16 · Optional

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

      6. 130 · REF · Reference Identification · Max 5 · Optional

         To specify identifying information

      7. 140 · PDS · Property Description/Legal Description · Max >1 · Optional

         To provide specifics on property or legal description; this segment provides for a simple legal description such as lot, block and subdivision

      8. 150 · PDE · Property Metes and Bounds Description · Max >1 · Optional

         To describe real estate property by boundary lines with their terminal points and angles; this segment defines legal boundaries of real estate property

      9. 160 · PEX · Property or Housing Expense · Max 5 · Optional

         To provide housing expense information

      10. 170 · REC · Real Estate Condition · Max 1 · Optional

          To indicate the condition of real estate property and, if applicable, the actions needed to correct damage

      11. 180 · REA · Real Estate Property Information · Max 1 · Optional

          To provide a description of real estate or general property information

      12. 190 · III · Information · Max 30 · Optional

          To report information

      13. 200 · AM1 · Informational Values · Max >1 · Optional

          To specify a code and the amount, quantity associated with it, or both

      14. 210 · API · Activity or Process Information · Max 10 · Optional

          To provide information on activity or process

      15. 220 · AMT · Monetary Amount · Max 10 · Optional

          To indicate the total monetary amount

      16. 230 · QTY · Quantity · Max 2 · Optional

          To specify quantity information

      17. 240 · PCT · Percent Amounts · Max 4 · Optional

          To qualify percent amounts and supply percent amounts

      18. 250 · NTE · Note/Special Instruction · Max 10 · Optional

          To transmit information in a free-form format, if necessary, for comment or special instruction

      19. IN1 Loop Optional Repeat 4

          1. 260 · IN1 · Individual Identification · Max 1 · Mandatory

             To provide identification of an individual or entity

             The IN1 loop is used to identify the borrower, property owner, contact persons for access to the property, and any third party who needs to be notified to facilitate a property appraisal.

          2. 270 · IN2 · Individual Name Structure Components · Max 10 · Optional

             To sequence individual name components for maximum specificity

          3. 280 · PER · Administrative Communications Contact · Max 2 · Optional

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

          4. 290 · DTM · Date/Time Reference · Max 2 · Optional

             To specify pertinent dates and times

             The DTM segment is used to provide the Best Time to Contact information.

2. 300 · 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)