201 Residential Loan Application

Functional Group ME

X12F Finance Subcommittee

This Draft Standard for Trial Use contains the format and establishes the data contents of the Residential Loan Application Transaction Set (201) for use within the context of an Electronic Data Interchange (EDI) environment. This transaction set can be used to transfer the data contained in the Uniform Residential Loan Application between mortgage lenders, mortgage service vendors, insurance companies, credit reporting agencies and secondary market organizations. 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.

Heading

Position
Segment
Name
Max use
0100
Transaction Set HeaderMandatory
Max 1
To indicate the start of a transaction set and to assign a control number
0200
Beginning SegmentMandatory
Max 1
To indicate the beginning of a transaction set
N1 Loop
Repeat 5
0300
NameMandatory
Max 1
To identify a party by type of organization, name, and code
The N1 loop identifies the sending and receiving parties such as the mortgage company, loan broker, service bureau mortgage insurer, etc.
0500
Address InformationOptional
Max 2
To specify the location of the named party
0600
Geographic LocationOptional
Max 1
To specify the geographic place of the named party
0700
Reference IdentificationOptional
Max 1
To specify identifying information
0800
Administrative Communications ContactOptional
Max 5
To identify a person or office to whom administrative communications should be directed

Detail

Position
Segment
Name
Max use
LRQ Loop
Repeat >1
0100
Mortgage Characteristics RequestedMandatory
Max 1
To describe the characteristics of a mortgage requested by the applicant(s)
The LRQ loop contains requested loan, borrower and subject property information. One iteration equals one loan application.
0200
Reference IdentificationMandatory
Max >1
To specify identifying information
0300
Yes/No QuestionMandatory
Max >1
To identify and answer yes and no questions, including the date, time, and comments further qualifying the condition
The YNQ segment is used to determine whether or not improvements have been made, whether or not they are complete, or whether or not the mortgage is eligible for a special mortgage program.
0400
NameMandatory
Max 1
To identify a party by type of organization, name, and code
0700
Date or Time or PeriodOptional
Max 1
To specify any or all of a date, a time, or a time period
0800
Real Estate Sales Price ChangeOptional
Max >1
To provide the type, source, and amount of real estate sales price changes
0900
Mortgage Closing DataOptional
Max 1
To provide details about loan settlement
0920
Status of MortgageOptional
Max 1
To provide information on the status of a mortgage and the date actions were taken regarding the loan and the property
0950
Note/Special InstructionOptional
Max >1
To transmit information in a free-form format, if necessary, for comment or special instruction
0960
Item IdentificationOptional
Max >1
To specify basic item identification data
0970
Borrower Education ProgramOptional
Max 1
To identify the type and location of borrower education provided
NX1 Loop
Repeat 10
1000
Property or Entity IdentificationMandatory
Max 1
To define the attributes of a property or an entity
The NX1 loop contains information about the subject property.
1100
Location ID ComponentMandatory
Max 30
To define types and values of a geographic location
1200
Real Estate Property InformationOptional
Max 1
To provide a description of real estate or general property information
1300
Property Description/Legal DescriptionOptional
Max 10
To provide specifics on property or legal description; this segment provides for a simple legal description such as lot, block and subdivision
1400
Property Metes and Bounds DescriptionOptional
Max 50
To describe real estate property by boundary lines with their terminal points and angles; this segment defines legal boundaries of real estate property
1410
QuantityOptional
Max >1
To specify quantity information
1420
Yes/No QuestionOptional
Max >1
To identify and answer yes and no questions, including the date, time, and comments further qualifying the condition
The YNQ segment is used to describe specific subject property attributes. (e.g. Is this an energy efficient home? Is the property in a government approved condominium project?)
PEX Loop
Repeat 20
1500
Property or Housing ExpenseMandatory
Max 1
To provide housing expense information
The PEX loop provides the proposed monthly housing expenses.
1600
Message TextOptional
Max 1
To provide a free-form format that allows the transmission of text information
AMT Loop
Repeat >1
1700
Monetary AmountMandatory
Max 1
To indicate the total monetary amount
The AMT loop contains financing terms, refinance and construction loan information.
1800
Message TextOptional
Max 1
To provide a free-form format that allows the transmission of text information
1810
Percent AmountsOptional
Max >1
To qualify percent amounts and supply percent amounts
IN1 Loop
Repeat 15
1900
Individual IdentificationMandatory
Max 1
To provide identification of an individual or entity
The IN1 loop identifies the borrower(s) and their asset and liability information.
2000
Individual Name Structure ComponentsMandatory
Max 10
To sequence individual name components for maximum specificity
2100
Yes/No QuestionMandatory
Max 19
To identify and answer yes and no questions, including the date, time, and comments further qualifying the condition
2200
Date or Time or PeriodOptional
Max 3
To specify any or all of a date, a time, or a time period
2300
Reference IdentificationOptional
Max >1
To specify identifying information
2400
Monetary AmountOptional
Max >1
To indicate the total monetary amount
2500
Demographic InformationOptional
Max 1
To supply demographic information
2600
Quantity and DescriptionOptional
Max 1
To indicate line item quantity, description, marks and numbers, commodity code, weight, and customs value
2700
Message TextOptional
Max 1
To provide a free-form format that allows the transmission of text information
2800
Administrative Communications ContactOptional
Max 1
To identify a person or office to whom administrative communications should be directed
2900
QuantityOptional
Max >1
To specify quantity information
3000
First Time Home BuyerOptional
Max 1
To capture the first time home buyer information found in section of the Loan Application
3200
Personal Property DescriptionOptional
Max 20
To provide details of personal property
AIN Loop
Repeat >1
3210
IncomeMandatory
Max 1
To provide type and amount of income obtained
The AIN loop provides information about the borrower's income.
3220
Yes/No QuestionOptional
Max >1
To identify and answer yes and no questions, including the date, time, and comments further qualifying the condition
The YNQ segment determines the income's relationship to its source or the taxability of the income. A "Y" means that the income is from a primary source or is taxable. A "N" means the income is from a secondary source or is not taxable.
PEX Loop
Repeat 20
3800
Property or Housing ExpenseMandatory
Max 1
To provide housing expense information
The PEX loop provides current housing expense information.
3900
Message TextOptional
Max 1
To provide a free-form format that allows the transmission of text information
NX1 Loop
Repeat 10
4000
Property or Entity IdentificationMandatory
Max 1
To define the attributes of a property or an entity
The NX1 loop provides the applicant's current and previous residence information.
4100
Location ID ComponentMandatory
Max 30
To define types and values of a geographic location
4200
Quantity and DescriptionOptional
Max 1
To indicate line item quantity, description, marks and numbers, commodity code, weight, and customs value
N1 Loop
Repeat 20
4400
NameMandatory
Max 1
To identify a party by type of organization, name, and code
The N1 loop provides the applicant's current and previous employment information.
4600
Address InformationOptional
Max 2
To specify the location of the named party
4700
Geographic LocationOptional
Max 1
To specify the geographic place of the named party
4800
Administrative Communications ContactOptional
Max 1
To identify a person or office to whom administrative communications should be directed
4900
Yes/No QuestionOptional
Max 1
To identify and answer yes and no questions, including the date, time, and comments further qualifying the condition
The YNQ segment determines whether or not a borrower is self employed. A "Y" indicates that the borrower is self employed.
5000
Employment PositionOptional
Max 1
To describe employment position
5100
QuantityOptional
Max >1
To specify quantity information
5300
Monetary AmountOptional
Max 1
To indicate the total monetary amount
REA Loop
Repeat 20
5400
Real Estate Property InformationMandatory
Max 1
To provide a description of real estate or general property information
The REA loop provides information about other properties owned.
5500
Monetary AmountMandatory
Max 6
To indicate the total monetary amount
5600
Property or Entity IdentificationMandatory
Max 1
To define the attributes of a property or an entity
5700
Location ID ComponentMandatory
Max 30
To define types and values of a geographic location
NM1 Loop
Repeat 20
5750
Individual or Organizational NameMandatory
Max 1
To supply the full name of an individual or organizational entity
The NM1 loop provides alias information used to obtain credit.
5790
Account IdentificationOptional
Max 10
To specify account information
CDA Loop
Repeat 100
5800
Consumer Credit AccountMandatory
Max 1
To provide duration, amount and associated information on consumer credit accounts
The CDA loop provides consumer credit account information.
5900
Yes/No QuestionOptional
Max >1
To identify and answer yes and no questions, including the date, time, and comments further qualifying the condition
The YNQ segment determines whether or not a liability will be satisfied by the sale of owned real estate or by refinancing a current loan, if the liability has a co-signer, or if the liability is subordinated. A "Y" means that the liability will be satisfied by a sale or refinance, that the liability has a co-signer, or that the liability is resubordinated.
6000
NameOptional
Max 1
To identify a party by type of organization, name, and code
6200
Address InformationOptional
Max 2
To specify the location of the named party
6300
Geographic LocationOptional
Max 1
To specify the geographic place of the named party
6400
Administrative Communications ContactOptional
Max 1
To identify a person or office to whom administrative communications should be directed
6410
Conditions IndicatorOptional
Max >1
To supply information on conditions
FAA Loop
Repeat 100
6500
Financial Asset AccountMandatory
Max 1
To provide duration, amount and associated information on financial assets
The FAA loop provides financial asset information.
6600
NameOptional
Max 1
To identify a party by type of organization, name, and code
6800
Address InformationOptional
Max 2
To specify the location of the named party
6900
Geographic LocationOptional
Max 1
To specify the geographic place of the named party
7000
Administrative Communications ContactOptional
Max 1
To identify a person or office to whom administrative communications should be directed
7040
Message TextOptional
Max 1
To provide a free-form format that allows the transmission of text information
7050
Loop HeaderOptional
Max 1
To indicate that the next segment begins a loop
AMT Loop
Repeat 10
7100
Monetary AmountMandatory
Max 1
To indicate the total monetary amount
The AMT loop provides alimony and child support income and expense information along with job related, liability, and other expense information.
7200
Message TextOptional
Max 1
To provide a free-form format that allows the transmission of text information
7210
QuantityOptional
Max 1
To specify quantity information
7220
Yes/No QuestionOptional
Max 1
To identify and answer yes and no questions, including the date, time, and comments further qualifying the condition
The YNQ segment determines how the Federal Housing Administration (FHA) treats alimony in the home purchase process. A "Y" indicates that alimony will be treated as a reduction to total income. A "N" indicates that alimony will be included in the aggregate of obligations.
7250
Loop TrailerOptional
Max 1
To indicate that the loop immediately preceding this segment is complete
LX Loop
Repeat >1
7300
Assigned NumberMandatory
Max 1
To reference a line number in a transaction set
The LX loop contains information about the interviewer who obtained the loan application data and other parties to the real estate transaction.
7400
NameOptional
Max 1
To identify a party by type of organization, name, and code
7600
Address InformationOptional
Max 2
To specify the location of the named party
7700
Geographic LocationOptional
Max 1
To specify the geographic place of the named party
7800
Administrative Communications ContactOptional
Max >1
To identify a person or office to whom administrative communications should be directed
7900
Date or Time or PeriodOptional
Max 1
To specify any or all of a date, a time, or a time period
8000
Transaction Set TrailerMandatory
Max 1
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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