This Draft Standard for Trial Use 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.
To indicate the start of a transaction set and to assign a control number
To indicate the beginning of a transaction set
To identify a party by type of organization, name, and code
To specify additional names or those longer than 35 characters in length
To specify the location of the named party
To specify the geographic place of the named party
To specify identifying information
To identify a person or office to whom administrative communications should be directed
To provide identification of an individual or entity
To sequence individual name components for maximum specificity
To specify the location of the named party
To specify the geographic place of the named party
To specify identifying information
To provide information on activity or process
To identify a party by type of organization, name, and code
To specify additional names or those longer than 35 characters in length
To specify the location of the named party
To specify the geographic place of the named party
To specify identifying information
To identify a person or office to whom administrative communications should be directed
To provide type and amount of income obtained
To specify any or all of a date, a time, or a time period
To identify the type or transmission or both of paperwork or supporting information
To identify a person or office to whom administrative communications should be directed
To describe employment position
To transmit information in a free-form format, if necessary, for comment or special instruction
To specify any or all of a date, a time, or a time period
To specify identifying information
To provide type and amount of income obtained
To specify any or all of a date, a time, or a time period
To define the attributes of a property or an entity
To define types and values of a geographic location
To specify account information
To supply the full name of an individual or organizational entity
To describe terms of a mortgage product
To provide housing expense information
To indicate the total monetary amount
To specify quantity information
To identify and answer yes and no questions, including the date, time, and comments further qualifying the condition
To specify any or all of a date, a time, or a time period
To provide a free-form format that allows the transmission of text information
To provide duration or amount of financial assets
To supply the full name of an individual or organizational entity
To indicate the total monetary amount
To specify quantity information
To specify any or all of a date, a time, or a time period
To provide a free-form format that allows the transmission of text information
To provide duration or amount of consumer credit account
To supply the full name of an individual or organizational entity
To specify quantity information
To specify any or all of a date, a time, or a time period
To provide a free-form format that allows the transmission of text information
To indicate the end of the transaction set and provide the count of the transmitted segments (including the beginning (ST) and ending (SE) segments)
