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EDI 266 Mortgage or Property Record Change Notification

Functional Group MG

X12F Finance Subcommittee

This Draft Standard for Trial Use contains the format and establishes the data contents of the Mortgage or Property Record Change Notification Transaction Set (266) for use within the context of an Electronic Data Interchange (EDI) environment. This transaction set can be used by financial institutions such as Mortgagees, Lienholders, and Lessors to inform interested parties such as Insurers, Investors, and Taxing Authorities of mortgage or property record changes. This transaction set is intended to be used by financial institutions to communicate change notifications, such as the sale of mortgages, assumptions, transfers, and terminations of interest.

Heading

Position
Segment
Name
Max use
  1. To indicate the start of a transaction set and to assign a control number

  2. To indicate the beginning of a transaction set

    BGN indicates whether the set is an original or a corrected and verified transmission.
  3. 0100 Loop Mandatory
    Repeat >1
    1. To identify a party by type of organization, name, and code

      Loop 0100 provides information on the principal parties of this transaction, such as the sending and receiving parties.
    2. To specify additional names or those longer than 35 characters in length

    3. To specify the location of the named party

    4. To specify the geographic place of the named party

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

    6. To specify identifying information

Detail

Position
Segment
Name
Max use
  1. 0200 Loop Mandatory
    Repeat >1
    1. To reference a line number in a transaction set

      Loop 0200 contains group level reporting information.
    2. To provide information on activity or process

      API indicates the reporting type.
    3. To specify any or all of a date, a time, or a time period

    4. To specify quantity information

    5. To indicate the total monetary amount

    6. 0210 Loop Optional
      Repeat >1
      1. To identify a party by type of organization, name, and code

        Loop 0210 identifies the parties involved in the reporting process.
      2. To specify additional names or those longer than 35 characters in length

      3. To specify the location of the named party

      4. To specify the geographic place of the named party

      5. To specify identifying information

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

    7. 0220 Loop Mandatory
      Repeat >1
      1. To transmit identifying information as specified by the Reference Identification Qualifier

        Loop 0220 contains mortgage loan detail level information.
      2. 0221 Loop Optional
        Repeat >1
        1. To supply the full name of an individual or organizational entity

          Loop 0221 contains information on the individual or parties associated with the loan.
        2. To specify additional names or those longer than 35 characters in length

        3. To specify the location of the named party

        4. To specify the geographic place of the named party

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

        6. To specify identifying information

      3. 0222 Loop Mandatory
        Repeat >1
        1. To provide information on activity or process

          Loop 0222 contains loan specific details, identifies the property associated with a mortgage loan, and loan handling information.
          API identifies the status of a specific loan or actions to be taken towards the loan.
        2. To specify the location of the named party

        3. To specify the geographic place of the named party

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

        5. To specify identifying information

        6. To supply information on conditions

        7. To specify quantity information

        8. To indicate the total monetary amount

        9. To specify interest rate and type and the applicable time period

        10. To qualify percent amounts and supply percent amounts

        11. To transmit information in a free-form format, if necessary, for comment or special instruction

        12. To provide descriptions that identify a specific vehicle

        13. To describe a product or process in coded or free-form format

  2. To indicate the end of the transaction set and provide the count of the transmitted segments (including the beginning (ST) and ending (SE) segments)

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