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X12 transaction guide · Finance

EDI 264 Mortgage Loan Default Status

The X12 document used to file notifications of mortgage loan default and foreclosure status with insurers, guarantors, investors or servicers.

Sent by
Mortgage servicer
Received by
Insurer, guarantor, investor or another servicer
Standard
ANSI ASC X12

What is an EDI 264?

The EDI 264 Mortgage Loan Default Status is the ANSI X12 transaction set that lets all notifications of mortgage loan default and foreclosure status be filed in the same way, whether to an insurer, guarantor, investor or servicer.

Insurers and investors must be told when loans become delinquent and as foreclosure progresses, under deadlines in their agreements. A single status format lets servicers report consistently to all of them and supports later claims (260). It standardizes reporting across recipients. Updates follow each milestone.

How the EDI 264 worksDiagram of the EDI 264 Mortgage Loan Default Status. Mortgage servicer sends it to insurer, guarantor, investor or another servicer. It usually starts the exchange. It is usually followed by 260, 206 and 997. Inside the ISA, GS and ST envelopes, X12 release 008010 requires, in the heading: BGN (Beginning Segment) and the required 0100 loop with N1 (Party Identification) and detail: the required 0200 loop with LX (Transaction Set Line Number) and the required 0210 loop with DTP (Date or Time or Period) and REF (Reference Information). 2 optional loops are listed by their first segment.How the EDI 264 worksMortgage Loan Default Status: who sends it, where it fits and what the standard marks required1 WHERE IT FITSUSUALLY FOLLOWSStarts the exchangeEDI 264SENDERMortgage servicerRECEIVERInsurer, guarantor,investor or anotherservicer997 or 999 acknowledgment back, if the partners agreeUSUALLY FOLLOWED BY260Application for MortgageInsurance Benefits206Real Estate Inspection997FunctionalAcknowledgment2 WHAT X12 RELEASE 008010 REQUIRESInterchange: sender and receiver IDsISA … IEAFunctional group, ID code MGGS … GETransaction set 264ST … SEHEADINGBGNBeginning SegmentRequired loop 0100 · repeats up to 2N1Party IdentificationDETAILRequired loop 0200 · repeats many timesLXTransaction Set Line NumberRequired loop 0210 · repeats many timesDTPDate or Time or PeriodREFReference Information+ 2 optional loops, starting with:N1RECBlue box: required loop. Optional loops are listed by the segment that starts them; when a loop is used, that first segment is required. Optional segmentsoutside loops are not drawn.Structure: required segments and loops in the X12 008010 listing for the 264. Your trading partner's implementation guide adds its own requirements.
How the EDI 264 worksDiagram of the EDI 264 Mortgage Loan Default Status. Mortgage servicer sends it to insurer, guarantor, investor or another servicer. It usually starts the exchange. It is usually followed by 260, 206 and 997. Inside the ISA, GS and ST envelopes, X12 release 008010 requires, in the heading: BGN (Beginning Segment) and the required 0100 loop with N1 (Party Identification) and detail: the required 0200 loop with LX (Transaction Set Line Number) and the required 0210 loop with DTP (Date or Time or Period) and REF (Reference Information). 2 optional loops are listed by their first segment.How the EDI 264 worksMortgage Loan Default Status: who sends it,where it fits and what the standard marksrequired1 WHERE IT FITSUSUALLY FOLLOWSStarts the exchangeEDI 264SENDERMortgageservicerRECEIVERInsurer,guarantor,investor oranother servicer997 or 999 acknowledgment back, if the partnersagreeUSUALLY FOLLOWED BY260Application for Mortgage InsuranceBenefits206Real Estate Inspection997Functional Acknowledgment2 WHAT X12 RELEASE 008010 REQUIRESInterchange: sender and receiver IDs (ISA… IEA)Functional group, ID code MG (GS … GE)Transaction set 264 (ST … SE)HEADINGBGNBeginning SegmentRequired loop 0100 · repeats upto 2N1Party IdentificationDETAILRequired loop 0200 · repeatsmany timesLXTransaction Set LineNumberRequired loop 0210 · repeatsmany timesDTPDate or Time or PeriodREFReference Information+ 2 optional loops, starting with:N1RECBlue box: required loop. Optional loops are listedby the segment that starts them; when a loop isused, that first segment is required. Optionalsegments outside loops are not drawn.Structure: required segments and loops in the X12008010 listing for the 264. Your trading partner'simplementation guide adds its own requirements.

How to read this diagram: the top row shows who sends the 264, to whom, and which documents usually come before and after it. The lower part shows what X12 release 008010 itself requires: the envelopes around the 264 and the segments and loops the standard marks as required, area by area. Optional loops are listed by the segment that starts them rather than drawn in full. This is the standard's minimum, not a trading partner's requirement: each partner's implementation guide usually makes some optional loops mandatory, restricts the codes and may use a different release.

Expand diagram Download SVG

When it is used

  • Reporting new loan defaults
  • Reporting foreclosure milestones
  • Reporting cures and loss mitigation outcomes

Where it fits in the document flow

This document 264 Mortgage Loan Default Status
Usually followed by 260 Application for Mortgage Insurance Benefits206 Real Estate Inspection997 Functional Acknowledgment

Structure

Mandatory segments in the 264 (X12 release 008010)

The segments X12 release 008010 marks as mandatory at their level, in order. Segments inside optional loops are needed only when the loop is used. This is the standard's requirement, not your trading partner's: each partner's implementation guide names the release it uses, adds the optional segments it requires and restricts the values. The requirement status comes from one published X12 reference listing and has not been checked against a second source.

  • ST
  • BGN
  • N1
  • LX
  • DTP
  • REF
  • REC
  • SE

Practical example

The 264 in practice

A servicer's monthly default report includes loans that became 60 days delinquent and loans that reached foreclosure milestones. It sends each mortgage insurer and investor 264 transactions with the loan, delinquency date, status and next action. The insurers update their exposure and later receive claims for loans that end in foreclosure.

Implementation

Implementation considerations for the 264

  • Meet the reporting deadlines in each agreement.
  • Use status codes that recipients recognize.
  • Report cures and workouts as well as defaults.
  • Keep status consistent with later claims.

How ECOM helps

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Industry

Financial Services

Secure file transfer and B2B integration for banks and financial institutions.

Solution

Financial Document Automation

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Solution

EDI Integration

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More general questions about EDI are answered in the EDI FAQ.

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