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EDI 261 Residential Appraisal Request

Functional Group ME

X12F Finance Subcommittee

This Draft Standard for Trial Use (DSTU) contains the format and establishes the data contents of the Residential Appraisal Request Transaction Set (261) for use within the context of an Electronic Data Interchange (EDI) environment. This transaction set can be used to initiate, modify, or cancel a request for residential appraisal. The transaction set will be used to transfer information among mortgage lenders, real estate agents, appraisal companies, and other interested parties.

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Heading

Position

Segment

Name

Max use

010Transaction Set HeaderMandatory->Max 1
To indicate the start of a transaction set and to assign a control number
020Beginning SegmentMandatory->Max 1
To indicate the beginning of a transaction set
025TraceOptional->Max 1
To uniquely identify a transaction to an application
N1 Loop Optional
Repeat 3
1. 030NameMandatory->Max 1
  To identify a party by type of organization, name, and code
  The N1 loop is used to provide sender, receiver, and third party information.
2. 040Additional Name InformationOptional->Max 1
  To specify additional names or those longer than 35 characters in length
3. 050Address InformationOptional->Max 2
  To specify the location of the named party
4. 060Geographic LocationOptional->Max 1
  To specify the geographic place of the named party
5. 070Reference IdentificationOptional->Max 1
  To specify identifying information
6. 080Administrative Communications ContactOptional->Max 10
  To identify a person or office to whom administrative communications should be directed

Detail

Position

Segment

Name

Max use

LX Loop Mandatory
Repeat >1
1. 005Assigned NumberMandatory->Max 1
  To reference a line number in a transaction set
  The LX loop contains all information necessary to complete an appraisal request.
2. 010Date or Time or PeriodMandatory->Max 1
  To specify any or all of a date, a time, or a time period
3. 020Reference IdentificationMandatory->Max 7
  To specify identifying information
4. NM1 Loop Mandatory
  Repeat 3
  1. 030Individual or Organizational NameMandatory->Max 1
    To supply the full name of an individual or organizational entity
    The NM1 loop is used to identify multiple appraisal report ship-to and bill-to parties and any interested parties.
  2. 040Additional Name InformationOptional->Max 1
    To specify additional names or those longer than 35 characters in length
  3. 050Address InformationOptional->Max 2
    To specify the location of the named party
  4. 060Geographic LocationOptional->Max 1
    To specify the geographic place of the named party
  5. 070Reference IdentificationOptional->Max 1
    To specify identifying information
  6. 080Administrative Communications ContactOptional->Max 10
    To identify a person or office to whom administrative communications should be directed
5. NX1 Loop Mandatory
  Repeat >1
  1. 090Property or Entity IdentificationMandatory->Max 1
    To define the attributes of a property or an entity
    The NX1 loop contains information on the property to be appraised and supplies a completed checklist of all relevant documents required by the appraiser for the property appraisal.
  2. 100Real Estate Property ID ComponentMandatory->Max 7
    To define types and values for geographic location of real estate property
  3. 110Date or Time or PeriodMandatory->Max 7
    To specify any or all of a date, a time, or a time period
  4. 115PaperworkOptional->Max >1
    To identify the type and transmission of paperwork or supporting information
  5. 120Yes/No QuestionOptional->Max 16
    To identify and answer yes and no questions, including the date, time, and comments further qualifying the condition
  6. 130Reference IdentificationOptional->Max 5
    To specify identifying information
  7. 140Property Description/Legal DescriptionOptional->Max >1
    To provide specifics on property or legal description; this segment provides for a simple legal description such as lot, block and subdivision
  8. 150Property Metes and Bounds DescriptionOptional->Max >1
    To describe real estate property by boundary lines with their terminal points and angles; this segment defines legal boundaries of real estate property
  9. 160Property or Housing ExpenseOptional->Max 5
    To provide housing expense information
  10. 170Real Estate ConditionOptional->Max 1
    To indicate the condition of real estate property and, if applicable, the actions needed to correct damage
  11. 180Real Estate Property InformationOptional->Max 1
    To provide a description of real estate or general property information
  12. 190InformationOptional->Max 30
    To report information
  13. 200Informational ValuesOptional->Max >1
    To specify a code and the amount, quantity associated with it, or both
  14. 210Activity or Process InformationOptional->Max 10
    To provide information on activity or process
  15. 220Monetary AmountOptional->Max 10
    To indicate the total monetary amount
  16. 230QuantityOptional->Max 2
    To specify quantity information
  17. 240Percent AmountsOptional->Max 4
    To qualify percent amounts and supply percent amounts
  18. 250Note/Special InstructionOptional->Max 10
    To transmit information in a free-form format, if necessary, for comment or special instruction
  19. IN1 Loop Optional
    Repeat 4
    260Individual IdentificationMandatory->Max 1
    To provide identification of an individual or entity
    The IN1 loop is used to identify the borrower, property owner, contact persons for access to the property, and any third party who needs to be notified to facilitate a property appraisal.
    270Individual Name Structure ComponentsOptional->Max 10
    To sequence individual name components for maximum specificity
    280Administrative Communications ContactOptional->Max 2
    To identify a person or office to whom administrative communications should be directed
    290Date/Time ReferenceOptional->Max 2
    To specify pertinent dates and times
    The DTM segment is used to provide the Best Time to Contact information.
300Transaction 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)