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EDI 264 Mortgage Loan Default Status

Functional Group MG

X12F Finance Subcommittee

This X12 Transaction Set contains the format and establishes the data contents of the Mortgage Loan Default Status Transaction Set (264) for use within an Electronic Data Interchange (EDI) environment. This transaction set will allow all notifications of mortgage loan default/foreclosure status to be filed similarly, whether they be to an insurer, guarantor, investor, or servicer. This transaction set can be used to submit notification of delinquent mortgage loans that could potentially result in foreclosure activity leading to the collection of a third-party guarantee/insurance benefit. This transaction set can also be used to file default status reports, as well as foreclosure and bankruptcy information with servicers, attorneys, trustees, government agencies, private mortgage insurers and investors.

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

    The BGN segment indicates whether the set is a corrected and verified or an advance notification transmission.
  3. To provide information indicating status in mortgagee name, address, or name and address

    The MIS segment provides information on the name and address change of the sending party.
  4. 0100 Loop Mandatory
    Repeat 2
    1. To identify a party by type of organization, name, and code

      Loop 0100 identifies the sending and or the receiving parties.
    2. To specify additional names

    3. To specify the location of the named party

    4. To specify the geographic place of the named party

      N4 may also contain the geographical location of the sender's principal servicing office, if any.
    5. To identify a person or office to whom administrative communications should be directed

Detail

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

      Each iteration of loop 0200 is used to provide mortgagee information associated with a specific group of mortgages.
    2. To specify pertinent dates and times

      The DTM segment contains the reporting date of the loan defaults.
    3. To identify a party by type of organization, name, and code

    4. To specify additional names

    5. To specify the location of the named party

    6. To specify the geographic place of the named party

    7. To specify identifying information

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

    9. To specify quantity information

    10. To indicate the total monetary amount

    11. 0210 Loop Mandatory
      Repeat >1
      1. To specify any or all of a date, a time, or a time period

        Loop 0210 is used to provide detail loan default information on a specific mortgage loan.
        The DTP segment contains the reporting date or a key loan associated date for the loan default.
      2. To specify identifying information

        The REF segment provides the associated reference numbers for a specific mortgage loan.
      3. 0211 Loop Optional
        Repeat >1
        1. To identify a party by type of organization, name, and code

          Loop 0211 provides information on the mortgagor, or the property owner, or the investor.
        2. To specify additional names

        3. To specify the location of the named party

          The N3 and N4 segments contain the address information for the property.
        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

      4. To indicate that the next segment begins a loop

      5. 0212 Loop Optional
        Repeat 1
        1. To indicate the condition of real estate property and, if applicable, the actions needed to correct damage

          Loop 0212 contains detail loan default and foreclosure information on a specific mortgage loan.
          The REC segment provides information on the real estate condition of the property. REC04 and REC05 provide information on damage and number of living units on the property and are not used in transaction set 264.
        2. To specify the location of the named party

          The N3 and N4 segments provide the address information for the property.
        3. To specify the geographic place of the named party

        4. To specify mortgage loan default information

          The DFI, QTY, AMT, INT, SOM, DTP and MRC segments provide detail default information on the mortgage loan.
        5. To specify quantity information

        6. To indicate the total monetary amount

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

        8. To provide information on the status of a mortgage and the date actions were taken regarding the loan and the property

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

        10. To provide information on mortgagor responses and number of contacts made with a mortgagor

        11. To provide a free-form format that allows the transmission of text information

          The MSG segment provides loan detail remarks or comments.
        12. To identify and answer yes and no questions, including the date, time, and comments further qualifying the condition

          The YNQ segment is used to identify whether the property has fire insurance only, or a servicer had advanced funds on non-escrowed taxes.
        13. To identify a person or office to whom administrative communications should be directed

      6. To indicate that the loop immediately preceding this segment is complete

Summary

Position
Segment
Name
Max use
  1. To specify quantity information

    QTY and AMT provide loan administration summaries for all mortgages reported in Table 2.
  2. To indicate the total monetary amount

  3. 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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