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

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. 030 · N1 · Name · Max 5 · Mandatory

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

   The N1 Segment identifies the transaction requestor and insuror entities.

Detail

1. LX Loop Mandatory Repeat >1

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

      To reference a line number in a transaction set

   2. 020 · N1 · Name · Max 1 · Mandatory

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

      The N1 Segment identifies the insured entity.

   3. 030 · REF · Reference Identification · Max 12 · Optional

      To specify identifying information

   4. LRQ Loop Mandatory Repeat >1

      1. 040 · LRQ · Mortgage Characteristics Requested · Max 1 · Mandatory

         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. 050 · LN1 · Loan Specific Data · Max 1 · Mandatory

         To provide high-level information about a loan

      3. 060 · PRD · Mortgage Loan Product Description · Max 1 · Mandatory

         To describe terms of a mortgage product

      4. 070 · MIC · Mortgage Insurance Coverage · Max 5 · Mandatory

         To describe the type and extent of mortgage insurance

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

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

      6. 090 · REF · Reference Identification · Max 10 · Optional

         To specify identifying information

      7. 100 · PEX · Property or Housing Expense · Max 20 · Optional

         To provide housing expense information

      8. 110 · RLD · Down Payment Data · Max 5 · Optional

         To provide amount or nature of loan down payment

      9. 120 · PAY · Adjustable Payment Description · Max 1 · Optional

         To provide the terms of payment adjustment

      10. 130 · RAT · Adjustable Rate Description · Max 1 · Optional

          To describe terms of rate adjustment

      11. SCM Loop Optional Repeat 10

          1. 140 · SCM · Credit Score Model · Max 1 · Mandatory

             To define the credit score model used and the related score

             The SCM Loop contains scores which pertain to the entire loan.

          2. 150 · SCS · Credit Score · Max 5 · Optional

             To identify evaluation factors used in determining an applicant's credit score

      12. NX1 Loop Mandatory Repeat 5

          1. 160 · NX1 · Property or Entity Identification · Max 1 · Mandatory

             To define the attributes of a property or an entity

             The NX1 Loop contains the address of the subject property.

          2. 170 · NX2 · Location ID Component · Max 30 · Mandatory

             To define types and values of a geographic location

          3. PAS Loop Mandatory Repeat 5

             1. 180 · PAS · Property Appraisal Summary · Max 1 · Mandatory

                To provide high-level information about the property valuation

                The PAS Loop contains the subject property's appraisal information.

             2. 190 · N1 · Name · Max 2 · Optional

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

             3. 200 · PER · Administrative Communications Contact · Max 10 · Optional

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

             4. 210 · MSG · Message Text · Max 10 · Optional

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

      13. IN1 Loop Mandatory Repeat 12

          1. 220 · IN1 · Individual Identification · Max 1 · Mandatory

             To provide identification of an individual or entity

             The IN1 Loop contains information about the Borrower(s).

          2. 230 · IN2 · Individual Name Structure Components · Max 10 · Mandatory

             To sequence individual name components for maximum specificity

          3. 240 · YNQ · Yes/No Question · Max 5 · Optional

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

          4. 250 · DMG · Demographic Information · Max 1 · Optional

             To supply demographic information

          5. 260 · MSG · Message Text · Max 1 · Optional

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

          6. 270 · N10 · Quantity and Description · Max 1 · Optional

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

          7. 280 · BFS · Borrower Financial Summary · Max 1 · Optional

             To provide summary totals for borrower's financial position

          8. SCM Loop Optional Repeat 10

             1. 290 · SCM · Credit Score Model · Max 1 · Mandatory

                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. 300 · SCS · Credit Score · Max 5 · Optional

                To identify evaluation factors used in determining an applicant's credit score

          9. NX1 Loop Optional Repeat 10

             1. 310 · NX1 · Property or Entity Identification · Max 1 · Mandatory

                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. 320 · NX2 · Location ID Component · Max 30 · Mandatory

                To define types and values of a geographic location

             3. 330 · N10 · Quantity and Description · Max 1 · Optional

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

             4. 340 · ARS · Applicant Residence Specifics · Max 1 · Optional

                To provide type of residency

      14. REA Loop Optional Repeat 1

          1. 350 · REA · Real Estate Property Information · Max 1 · Mandatory

             To provide a description of real estate or general property information

             The REA Loop contains general information about the subject property.

          2. 360 · AMT · Monetary Amount · Max 10 · Optional

             To indicate the total monetary amount

      15. MCD Loop Optional Repeat 1

          1. 370 · MCD · Mortgage Closing Data · Max 1 · Mandatory

             To provide details about loan settlement

             The MCD Loop contains mortgage loan closing information.

          2. 380 · AMT · Monetary Amount · Max 10 · Optional

             To indicate the total monetary amount

      16. BUY Loop Optional Repeat 20

          1. 390 · BUY · Loan Buydown · Max 1 · Mandatory

             To describe the features of a loan buydown

             The BUY Loop defines mortgage loan buydown specifics if applicable.

          2. 400 · TBA · Temporary Buydown Adjustment · Max 10 · Optional

             To indicate amount or period of temporary buydown adjustment

      17. PRJ Loop Optional Repeat 1

          1. 410 · PRJ · Multifamily Housing Project · Max 1 · Mandatory

             To describe attributes of a multifamily housing project

             The PRJ Loop contains multifamily housing project information about the subject property.

          2. 420 · PER · Administrative Communications Contact · Max 10 · Optional

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

2. 430 · 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)