This Draft Standard for Trial Use contains the format and establishes the data contents of the Residential Mortgage Insurance Application Response Transaction Set (263) for use within the context of an Electronic Data Interchange (EDI) environment. This standard is used by a mortgage insurance company to communicate the receipt and disposition of a Residential Mortgage Insurance Application Transaction Set (872). It will be used to provide the mortgage originator with the results of the insurance application and, if accepted, will provide basic information about the insurance coverage. It can also be used to confirm certification of coverage. It is not intended to replace the legal commitment (Certificate of Coverage of Insurance) which will continue to be delivered in its current form.
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 reference a line number in a transaction set
To identify a party by type of organization, name, and code
To specify identifying information
To identify a party by type of organization, name, and code
To determine if mortgage insurance has been approved or declined, and if approved, supply details about the coverage
To specify tax information
To transmit identifying information as specified by the Reference Identification Qualifier
To describe the type and extent of mortgage insurance
To define the billing periods
To qualify percent amounts and supply percent amounts
To indicate the end of the transaction set and provide the count of the transmitted segments (including the beginning (ST) and ending (SE) segments)
