This Draft Standard for Trial Use contains the format and establishes the data contents of the Application for Mortgage Insurance Benefits Transaction Set (260) for use within the context of an Electronic Data Interchange (EDI) environment. This transaction set can be used by mortgage lenders to file claims with both government agencies and private mortgage insurers in the event that defaults or foreclosure activity allow for the collection of a third-party guarantee/insurance benefit. The information in a standard format will allow all mortgage insurance claim payments to be requested similarly, whether they be to an investor, insurer, or guarantor.
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
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 indicate the status of a claim for mortgage insurance benefits
To supply the full name of an individual or organizational entity
To specify identifying information
To specify the location of the named party
To specify the geographic place of the named party
To specify any or all of a date, a time, or a time period
To specify interest rate and type and the applicable time period
To determine if mortgage insurance has been approved or declined, and if approved, supply details about the coverage
To identify a person or office to whom administrative communications should be directed
To qualify percent amounts and supply percent amounts
To transmit information in a free-form format, if necessary, for comment or special instruction
To specify mortgage loan default information
To specify any or all of a date, a time, or a time period
To indicate the total monetary amount
To indicate the condition of real estate property and, if applicable, the actions needed to correct damage
To indicate the total monetary amount
To specify any or all of a date, a time, or a time period
To specify legal outcome and impact of foreclosure on a lender's claim for mortgage insurance benefits
To specify any or all of a date, a time, or a time period
To specify mortgage loan fiscal data when applying for insurance claim benefits
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)
