259 Residential Mortgage Insurance Explanation of Benefits

Functional Group MG

X12F Finance Subcommittee

This Draft Standard for Trial Use contains the format and establishes the data contents of the Residential Mortgage Insurance Explanation of Benefits Transaction Set (259) for use within the context of an Electronic Data Interchange (EDI) environment. This standard can be used to transmit the results of a claim for mortgage insurance benefits, referred to as an explanation of benefits (EOB), between a mortgage insurer and the customer receiving the financial benefit. This standard can be used for transmitting the results of both pool and primary mortgage insurance claims.

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
0100 Loop
Repeat >1
0300
Party IdentificationMandatory
Max 1
To identify a party by type of organization, name, and code
The 0100 loop repeats for each individual company.
0500
Party LocationOptional
Max 1
To specify the location of the named party
0600
Geographic LocationOptional
Max 1
To specify the geographic place of the named party
0700
Reference InformationOptional
Max 1
To specify identifying information
0800
Administrative Communications ContactOptional
Max 1
To identify a person or office to whom administrative communications should be directed

Detail

Position
Segment
Name
Max use
0200 Loop
Repeat >1
0100
Extended Reference InformationMandatory
Max 1
To transmit identifying information as specified by the Reference Identification Qualifier
The 0200 Loop contains all information needed for a residential mortgage insurance explanation of benefits document.
0200
Date/Time ReferenceMandatory
Max >1
To specify pertinent dates and times
0300
Monetary Amount InformationMandatory
Max 1
To indicate the total monetary amount
0400
Default InformationMandatory
Max 1
To specify mortgage loan default information
0500
Reference InformationOptional
Max >1
To specify identifying information
0600
Administrative Communications ContactOptional
Max 1
To identify a person or office to whom administrative communications should be directed
0700
Percent AmountsOptional
Max 1
To qualify percent amounts and supply percent amounts
0800
Message TextOptional
Max >1
To provide a free-form format that allows the transmission of text information
0300 Loop
Repeat >1
0900
Party IdentificationMandatory
Max 1
To identify a party by type of organization, name, and code
The 0300 Loop contains the borrower's name and insured property address.
1100
Party LocationOptional
Max 1
To specify the location of the named party
1200
Geographic LocationOptional
Max 1
To specify the geographic place of the named party
0400 Loop
Repeat >1
1300
Date/Time ReferenceMandatory
Max 1
To specify pertinent dates and times
The 0400 Loop contains the event items and dates, along with mortgage interest rate intervals and amounts for adjustable interest loans.
1400
Quantity InformationOptional
Max 2
To specify quantity information
1500
InterestOptional
Max 1
To specify interest rate and type and the applicable time period
1600
Monetary Amount InformationOptional
Max 2
To indicate the total monetary amount
0500 Loop
Repeat >1
1800
Mortgage Loan Fiscal DataMandatory
Max 1
To specify mortgage loan fiscal data when applying for insurance claim benefits
The 0500 Loop contains detail claimable expense items submitted, the amount authorized for payment, and an explanation of any adjustments.
0510 Loop
Repeat >1
2000
Amount with DescriptionMandatory
Max 1
To specify a code and/or description with an associated amount
2100
Monetary Amount InformationOptional
Max 1
To indicate the total monetary amount
2300
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)

Stedi is a registered trademark of Stedi, Inc. Stedi's EDI Reference and Mapping Guides are provided for marketing purposes and are free of charge. All names, logos, and brands of third parties listed on our site are trademarks of their respective owners (including “X12”, which is a trademark of X12 Incorporated). Stedi, Inc. and its products and services are not endorsed by, sponsored by, or affiliated with these third parties. Our use of these names, logos, and brands is for identification purposes only, and does not imply any such endorsement, sponsorship, or affiliation.