EDI Transaction Set
EDI 264: Mortgage Loan Default Status
EDI 264 is the X12 Mortgage Loan Default Status transaction set, used within Electronic Data Interchange (EDI). Mortgage Loan Default Status 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.
What the 264 transaction set covers
Mortgage Loan Default Status 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.
How Interlink handles the 264
Interlink Commerce maps, transmits, and monitors the 264 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.