EDI 198 Loan Verification Information
Functional Group ME
X12F Finance Subcommittee
This X12 Transaction Set contains the format and establishes the data contents of the Loan Verification Information Transaction Set (198) for use within the context of an Electronic Data Interchange (EDI) environment. This transaction set can be used to request, validate, or exchange standard loan verification information among entities involved in the loan life-cycle. These entities may include lenders, employers, depository institutions, credit agencies, investors, mortgage insurance companies, and so on.
Heading
- 0100Transaction Set HeaderMandatoryMax 1
To indicate the start of a transaction set and to assign a control number
- 0200Beginning SegmentMandatoryMax 1
To indicate the beginning of a transaction set
- N1 Loop OptionalRepeat >1
- 0300NameMandatoryMax 1
To identify a party by type of organization, name, and code
The N1 loop is used to identify the requestor, respondent, forwarder, and/or any bill-to information. - 0400Additional Name InformationOptionalMax 2
To specify additional names
- 0500Address InformationOptionalMax 2
To specify the location of the named party
- 0600Geographic LocationOptionalMax 1
To specify the geographic place of the named party
- 0700Reference IdentificationOptionalMax 1
To specify identifying information
- 0800Administrative Communications ContactOptionalMax 5
To identify a person or office to whom administrative communications should be directed
- 0300NameMandatoryMax 1
Detail
- IN1 Loop MandatoryRepeat >1
- 0100Individual IdentificationMandatoryMax 1
To provide identification of an individual or entity
The IN1 loop is used to identify the applicant(s) or borrower(s). - 0200Individual Name Structure ComponentsMandatoryMax 10
To sequence individual name components for maximum specificity
- 0300Address InformationOptionalMax 2
To specify the location of the named party
- 0400Geographic LocationOptionalMax 1
To specify the geographic place of the named party
- 0500Reference IdentificationOptionalMax 5
To specify identifying information
- API Loop MandatoryRepeat >1
- 0600Activity or Process InformationMandatoryMax 1
To provide information on activity or process
The API loop is used to indicate the type of verification. - N1 Loop MandatoryRepeat >1
- 0700NameMandatoryMax 1
To identify a party by type of organization, name, and code
The N1 loop is used to identify the verification entity, i.e., Holder of Account, Income Provider. - 0800Additional Name InformationOptionalMax 2
To specify additional names
- 0900Address InformationOptionalMax 2
To specify the location of the named party
- 1000Geographic LocationOptionalMax 1
To specify the geographic place of the named party
- 1100Reference IdentificationOptionalMax 5
To specify identifying information
- 1200Administrative Communications ContactOptionalMax 1
To identify a person or office to whom administrative communications should be directed
The PER segment is used to provide contact information for person supplying highest verified income. - 1300IncomeOptionalMax 5
To provide type and amount of income obtained
The AIN segment is used to indicate the highest verified income. - 1400Date or Time or PeriodOptionalMax 1
To specify any or all of a date, a time, or a time period
- PWK Loop OptionalRepeat >1
- 1500PaperworkMandatoryMax 1
To identify the type or transmission or both of paperwork or supporting information
The PWK segment is used to define the source documentation used for the verification. - 1600Administrative Communications ContactOptionalMax 1
To identify a person or office to whom administrative communications should be directed
The PER segment is used to provide contact information for person supplying or recording verification information. - 1700Employment PositionOptionalMax 1
To describe employment position
The EMS segment is used to flag current versus previous employment and also indicates the position held. - 1800Note/Special InstructionOptionalMax 10
To transmit information in a free-form format, if necessary, for comment or special instruction
The NTE segment is used to describe a leave of absence or reason for leaving. - 1900Date or Time or PeriodOptionalMax 4
To specify any or all of a date, a time, or a time period
- 2000Reference IdentificationOptionalMax 5
To specify identifying information
- AIN Loop OptionalRepeat >1
- 2100IncomeMandatoryMax 1
To provide type and amount of income obtained
The AIN loop is used to provide detailed income information. - 2200Date or Time or PeriodOptionalMax 1
To specify any or all of a date, a time, or a time period
- 2100IncomeMandatoryMax 1
- NX1 Loop OptionalRepeat >1
- 2300Property or Entity IdentificationMandatoryMax 1
To define the attributes of a property or an entity
The NX1 loop is used to provide detailed rental or mortgage information. - 2400Location ID ComponentOptionalMax 10
To define types and values of a geographic location
- 2500Account IdentificationOptionalMax 1
To specify account information
- 2600Individual or Organizational NameOptionalMax 10
To supply the full name of an individual or organizational entity
- 2700Mortgage Loan Product DescriptionOptionalMax 1
To describe terms of a mortgage product
- 2800Property or Housing ExpenseOptionalMax 10
To provide housing expense information
- 2900Monetary AmountOptionalMax 5
To indicate the total monetary amount
- 3000QuantityOptionalMax 5
To specify quantity information
- 3100Yes/No QuestionOptionalMax 5
To identify and answer yes and no questions, including the date, time, and comments further qualifying the condition
The YNQ segment is used to answer questions relating to the status of a mortgage account. - 3200Date or Time or PeriodOptionalMax 10
To specify any or all of a date, a time, or a time period
- 3300Message TextOptionalMax 20
To provide a free-form format that allows the transmission of text information
- 2300Property or Entity IdentificationMandatoryMax 1
- FAA Loop OptionalRepeat >1
- 3400Financial Asset AccountMandatoryMax 1
To provide duration, amount and associated information on financial assets
The FAA loop is used to provide detailed deposit information. - 3500Individual or Organizational NameOptionalMax 5
To supply the full name of an individual or organizational entity
- 3700QuantityOptionalMax 1
To specify quantity information
- 3900Message TextOptionalMax 20
To provide a free-form format that allows the transmission of text information
- DTP Loop OptionalRepeat >1
- 3930Date or Time or PeriodMandatoryMax 1
To specify any or all of a date, a time, or a time period
- 3960Monetary AmountOptionalMax 1
To indicate the total monetary amount
- 3930Date or Time or PeriodMandatoryMax 1
- 3400Financial Asset AccountMandatoryMax 1
- CDA Loop OptionalRepeat >1
- 4000Consumer Credit AccountMandatoryMax 1
To provide duration, amount and associated information on consumer credit accounts
The CDA loop is used to provide detailed loan information. - 4100Individual or Organizational NameOptionalMax 5
To supply the full name of an individual or organizational entity
- 4200QuantityOptionalMax 1
To specify quantity information
- 4300Date or Time or PeriodOptionalMax 20
To specify any or all of a date, a time, or a time period
- 4400Message TextOptionalMax 20
To provide a free-form format that allows the transmission of text information
- 4000Consumer Credit AccountMandatoryMax 1
- 1500PaperworkMandatoryMax 1
- 0700NameMandatoryMax 1
- 0600Activity or Process InformationMandatoryMax 1
- 0100Individual IdentificationMandatoryMax 1
- 4500Transaction Set TrailerMandatoryMax 1
To indicate the end of the transaction set and provide the count of the transmitted segments (including the beginning (ST) and ending (SE) segments)