872 Residential Mortgage Insurance Application

Functional Group ME

X12F Finance Subcommittee

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.

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
0300
NameMandatory
Max 5
To identify a party by type of organization, name, and code
The N1 Segment identifies the transaction requester and service provider entities.

Detail

Position
Segment
Name
Max use
NM1 Loop
Repeat >1
0200
Individual or Organizational NameMandatory
Max 1
To supply the full name of an individual or organizational entity
The NM1 Segment identifies the loan originator.
0300
Reference IdentificationOptional
Max 12
To specify identifying information
LRQ Loop
Repeat >1
0400
Mortgage Characteristics RequestedMandatory
Max 1
To describe the characteristics of a mortgage requested by the applicant(s)
The LRQ Loop contains information about the loan, borrower, property, and requested coverage.
0500
Loan Specific DataMandatory
Max 1
To provide high-level information about a loan
0600
Mortgage Loan Product DescriptionOptional
Max 1
To describe terms of a mortgage product
0700
Mortgage Insurance CoverageOptional
Max 5
To describe the type and extent of mortgage insurance
0800
Administrative Communications ContactOptional
Max 5
To identify a person or office to whom administrative communications should be directed
0900
Reference IdentificationOptional
Max >1
To specify identifying information
1000
Property or Housing ExpenseOptional
Max 20
To provide housing expense information
1020
Real Estate Sales Price ChangeOptional
Max >1
To provide the type, source, and amount of real estate sales price changes
CDI Loop
Repeat >1
1120
Change Detail InformationMandatory
Max 1
To provide information on changes or adjustments
LX Loop
Repeat >1
1140
Assigned NumberMandatory
Max 1
To reference a line number in a transaction set
1160
Value Description or InformationOptional
Max >1
To provide detailed description of a financial value
1180
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 answer questions regarding the details of specific adjustable mortgage options. (e.g. Is a Fee Required? Is the mortgage payment interest only? Do prepayment restrictions apply?)
1200
Monetary AmountOptional
Max >1
To indicate the total monetary amount
1220
Percent AmountsOptional
Max >1
To qualify percent amounts and supply percent amounts
1240
Date or Time or PeriodOptional
Max >1
To specify any or all of a date, a time, or a time period
1280
Loan BuydownOptional
Max 1
To describe the features of a loan buydown
SCM Loop
Repeat 10
1400
Credit Score ModelMandatory
Max 1
To define the credit score model used and the related score
The SCM Loop contains scores which pertain to the entire loan.
1500
Credit ScoreOptional
Max 5
To identify evaluation factors used in determining an applicant's credit score
1510
Date or Time or PeriodOptional
Max 1
To specify any or all of a date, a time, or a time period
NX1 Loop
Repeat 5
1600
Property or Entity IdentificationMandatory
Max 1
To define the attributes of a property or an entity
The NX1 Loop contains the address of the subject property.
1700
Location ID ComponentMandatory
Max 30
To define types and values of a geographic location
PAS Loop
Repeat 5
1800
Property Appraisal SummaryMandatory
Max 1
To provide high-level information about the property valuation
The PAS Loop contains the subject property's appraisal information.
1900
NameOptional
Max 2
To identify a party by type of organization, name, and code
2100
Message TextOptional
Max 10
To provide a free-form format that allows the transmission of text information
REF Loop
Repeat >1
2110
Reference IdentificationMandatory
Max 1
To specify identifying information
The REF loop is used to describe appraised property comparable values.
2120
Monetary AmountOptional
Max >1
To indicate the total monetary amount
IN1 Loop
Repeat 12
2200
Individual IdentificationMandatory
Max 1
To provide identification of an individual or entity
The IN1 Loop contains information about the Borrower(s).
2300
Individual Name Structure ComponentsMandatory
Max 10
To sequence individual name components for maximum specificity
2400
Yes/No QuestionOptional
Max 5
To identify and answer yes and no questions, including the date, time, and comments further qualifying the condition
The YNQ segment is used to answer questions relating to the Home Mortgage Disclosure Act (HMDA). (e.g. Is the borrower a first time home buyer? Did the borrower provide demographic information?)
2500
Demographic InformationOptional
Max 1
To supply demographic information
2600
Message TextOptional
Max 1
To provide a free-form format that allows the transmission of text information
2700
Quantity and DescriptionOptional
Max 1
To indicate line item quantity, description, marks and numbers, commodity code, weight, and customs value
2800
Borrower Financial SummaryOptional
Max 1
To provide summary totals for borrower's financial position
SCM Loop
Repeat 10
2900
Credit Score ModelMandatory
Max 1
To define the credit score model used and the related score
The SCM Loop contains scores for the individual borrower defined in the IN1 Loop.
3000
Credit ScoreOptional
Max 5
To identify evaluation factors used in determining an applicant's credit score
3010
Date or Time or PeriodOptional
Max 1
To specify any or all of a date, a time, or a time period
NX1 Loop
Repeat 10
3100
Property or Entity IdentificationMandatory
Max 1
To define the attributes of a property or an entity
The NX1 Loop contains current and previous address information for the borrower defined in the IN1 Loop.
3200
Location ID ComponentMandatory
Max 30
To define types and values of a geographic location
3300
Quantity and DescriptionOptional
Max 1
To indicate line item quantity, description, marks and numbers, commodity code, weight, and customs value
REA Loop
Repeat 1
3500
Real Estate Property InformationMandatory
Max 1
To provide a description of real estate or general property information
The REA Loop contains general information about the subject property.
3600
Monetary AmountOptional
Max 10
To indicate the total monetary amount
MCD Loop
Repeat 1
3700
Mortgage Closing DataMandatory
Max 1
To provide details about loan settlement
The MCD Loop contains mortgage loan closing information.
3800
Monetary AmountOptional
Max 10
To indicate the total monetary amount
PRJ Loop
Repeat 1
4100
Multifamily Housing ProjectMandatory
Max 1
To describe attributes of a multifamily housing project
The PRJ Loop contains multifamily housing project information about the subject property.
4200
Administrative Communications ContactOptional
Max 10
To identify a person or office to whom administrative communications should be directed
4300
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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