EDI 872 Residential Mortgage Insurance Application

Functional Group ME

X12F Finance Subcommittee

This X12 Transaction Set 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 can be used by a mortgage originator to request mortgage insurance and to provide supporting information needed to obtain a mortgage insurance commitment on one or several residential mortgage loans. It can also be used, in conjunction with other transaction sets, to provide information needed to obtain an automated underwriting decision from a residential real estate automated underwriting system.

Heading

1. 0100 · ST · Transaction Set Header · Max 1 · Mandatory

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

2. 0200 · BGN · Beginning Segment · Max 1 · Mandatory

   To indicate the beginning of a transaction set

3. 0300 · N1 · Name · Max 5 · Mandatory

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

   The N1 Segment identifies the transaction requester and service provider entities.

Detail

1. NM1 Loop Mandatory Repeat >1

   1. 0200 · NM1 · Individual or Organizational Name · Max 1 · Mandatory

      To supply the full name of an individual or organizational entity

      The NM1 Segment identifies the loan originator.

   2. 0300 · REF · Reference Identification · Max 12 · Optional

      To specify identifying information

   3. LRQ Loop Mandatory Repeat >1

      1. 0400 · 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. 0500 · LN1 · Loan Specific Data · Max 1 · Mandatory

         To provide high-level information about a loan

      3. 0600 · PRD · Mortgage Loan Product Description · Max 1 · Optional

         To describe terms of a mortgage product

      4. 0700 · MIC · Mortgage Insurance Coverage · Max 5 · Optional

         To describe the type and extent of mortgage insurance

      5. 0800 · PER · Administrative Communications Contact · Max 5 · Optional

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

      6. 0900 · REF · Reference Identification · Max >1 · Optional

         To specify identifying information

      7. 1000 · PEX · Property or Housing Expense · Max 20 · Optional

         To provide housing expense information

      8. 1020 · RES · Real Estate Sales Price Change · Max >1 · Optional

         To provide the type, source, and amount of real estate sales price changes

      9. CDI Loop Optional Repeat >1

         1. 1120 · CDI · Change Detail Information · Max 1 · Mandatory

            To provide information on changes or adjustments

         2. LX Loop Optional Repeat >1

            1. 1140 · LX · Assigned Number · Max 1 · Mandatory

               To reference a line number in a transaction set

            2. 1160 · VDI · Value Description or Information · Max >1 · Optional

               To provide detailed description of a financial value

            3. 1180 · YNQ · Yes/No Question · Max >1 · Optional

               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 regarding the details of specific adjustable mortgage options. (e.g. Is a Fee Required? Is the mortgage payment interest only? Do prepayment restrictions apply?)

            4. 1200 · AMT · Monetary Amount · Max >1 · Optional

               To indicate the total monetary amount

            5. 1220 · PCT · Percent Amounts · Max >1 · Optional

               To qualify percent amounts and supply percent amounts

            6. 1240 · DTP · Date or Time or Period · Max >1 · Optional

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

            7. 1260 · III · Information · Max >1 · Optional

               To report information

            8. 1280 · BUY · Loan Buydown · Max 1 · Optional

               To describe the features of a loan buydown

      10. SCM Loop Optional Repeat 10

          1. 1400 · 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. 1500 · SCS · Credit Score · Max 5 · Optional

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

          3. 1510 · DTP · Date or Time or Period · Max 1 · Optional

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

      11. NX1 Loop Optional Repeat 5

          1. 1600 · 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. 1700 · NX2 · Location ID Component · Max 30 · Mandatory

             To define types and values of a geographic location

          3. PAS Loop Mandatory Repeat 5

             1. 1800 · 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. 1900 · N1 · Name · Max 2 · Optional

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

             3. 2100 · MSG · Message Text · Max 10 · Optional

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

             4. REF Loop Optional Repeat >1

                1. 2110 · REF · Reference Identification · Max 1 · Mandatory

                   To specify identifying information

                   The REF loop is used to describe appraised property comparable values.

                2. 2120 · AMT · Monetary Amount · Max >1 · Optional

                   To indicate the total monetary amount

      12. IN1 Loop Optional Repeat 12

          1. 2200 · IN1 · Individual Identification · Max 1 · Mandatory

             To provide identification of an individual or entity

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

          2. 2300 · IN2 · Individual Name Structure Components · Max 10 · Mandatory

             To sequence individual name components for maximum specificity

          3. 2400 · 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

             The YNQ segment is used to answer questions relating to the Home Mortgage Disclosure Act (HMDA). (e.g. Is the borrower a first time home buyer? Did the borrower provide demographic information?)

          4. 2500 · DMG · Demographic Information · Max 1 · Optional

             To supply demographic information

          5. 2600 · MSG · Message Text · Max 1 · Optional

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

          6. 2700 · N10 · Quantity and Description · Max 1 · Optional

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

          7. 2800 · BFS · Borrower Financial Summary · Max 1 · Optional

             To provide summary totals for borrower's financial position

          8. SCM Loop Optional Repeat 10

             1. 2900 · 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. 3000 · SCS · Credit Score · Max 5 · Optional

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

             3. 3010 · DTP · Date or Time or Period · Max 1 · Optional

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

          9. NX1 Loop Optional Repeat 10

             1. 3100 · 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. 3200 · NX2 · Location ID Component · Max 30 · Mandatory

                To define types and values of a geographic location

             3. 3300 · N10 · Quantity and Description · Max 1 · Optional

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

      13. REA Loop Optional Repeat 1

          1. 3500 · 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. 3600 · AMT · Monetary Amount · Max 10 · Optional

             To indicate the total monetary amount

      14. MCD Loop Optional Repeat 1

          1. 3700 · MCD · Mortgage Closing Data · Max 1 · Mandatory

             To provide details about loan settlement

             The MCD Loop contains mortgage loan closing information.

          2. 3800 · AMT · Monetary Amount · Max 10 · Optional

             To indicate the total monetary amount

      15. PRJ Loop Optional Repeat 1

          1. 4100 · 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. 4200 · PER · Administrative Communications Contact · Max 10 · Optional

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

2. 4300 · 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)