EDI Transaction Set
EDI 198: Loan Verification Information
EDI 198 is the X12 Loan Verification Information transaction set, used within Electronic Data Interchange (EDI). This transaction set can be used to request, validate, or exchange standard loan verification information among entities involved in the loan life-cycle. These entities may include lenders, employers, depository institutions, credit agencies, investors, mortgage insurance companies, and so on.
What the 198 transaction set covers
Loan Verification Information This X12 Transaction Set contains the format and establishes the data contents of the Loan Verification Information Transaction Set (198) for use within the context of an Electronic Data Interchange (EDI) environment. This transaction set can be used to request, validate, or exchange standard loan verification information among entities involved in the loan life-cycle. These entities may include lenders, employers, depository institutions, credit agencies, investors, mortgage insurance companies, and so on.
How Interlink handles the 198
Interlink Commerce maps, transmits, and monitors the 198 for you as part of fully managed EDI — connected straight to your ERP or systems, certified against your retailer’s requirements, and billed only when you trade. Most suppliers go live within 30 days.