This Draft Standard for Trial Use 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.
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 supply the full name of an individual or organizational entity
To specify identifying information
To describe the characteristics of a mortgage requested by the applicant(s)
To provide high-level information about a loan
To describe terms of a mortgage product
To describe the type and extent of mortgage insurance
To identify a person or office to whom administrative communications should be directed
To specify identifying information
To provide housing expense information
To provide the type, source, and amount of real estate sales price changes
To provide information on changes or adjustments
To reference a line number in a transaction set
To provide detailed description of a financial value
To identify and answer yes and no questions, including the date, time, and comments further qualifying the condition
To indicate the total monetary amount
To qualify percent amounts and supply percent amounts
To specify any or all of a date, a time, or a time period
To report information
To describe the features of a loan buydown
To define the credit score model used and the related score
To identify evaluation factors used in determining an applicant's credit score
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 provide high-level information about the property valuation
To identify a party by type of organization, name, and code
To provide a free-form format that allows the transmission of text information
To specify identifying information
To indicate the total monetary amount
To provide identification of an individual or entity
To sequence individual name components for maximum specificity
To identify and answer yes and no questions, including the date, time, and comments further qualifying the condition
To supply demographic information
To provide a free-form format that allows the transmission of text information
To indicate line item quantity, description, marks and numbers, commodity code, weight, and customs value
To provide summary totals for borrower's financial position
To define the credit score model used and the related score
To identify evaluation factors used in determining an applicant's credit score
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 indicate line item quantity, description, marks and numbers, commodity code, weight, and customs value
To provide a description of real estate or general property information
To indicate the total monetary amount
To provide details about loan settlement
To indicate the total monetary amount
To describe attributes of a multifamily housing project
To identify a person or office to whom administrative communications should be directed
To indicate the end of the transaction set and provide the count of the transmitted segments (including the beginning (ST) and ending (SE) segments)
