EDI 198 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.

Segments

Position

Segment

Name

Max use

100

Transaction Set Header

Mandatory

AtMax 1

To indicate the start of a transaction set and to assign a control number

200

BGN

Beginning Segment

Mandatory

AtMax 1

To indicate the beginning of a transaction set

LOOP

Opt

GT 1

300

Party Identification

Opt

AtMax 1

To identify a party by type of organization, name, and code

400

Additional Name Information

Opt

AtMax 2

To specify additional names

500

Party Location

Opt

AtMax 2

To specify the location of the named party

600

Geographic Location

Opt

AtMax 1

To specify the geographic place of the named party

700

REF

Reference Information

Opt

AtMax 1

To specify identifying information

800

PER

Administrative Communications Contact

Opt

AtMax 5

To identify a person or office to whom administrative communications should be directed

IN1

LOOP

Mandatory

GT 1

100

IN1

Individual Identification

Mandatory

AtMax 1

To provide identification of an individual or entity

200

IN2

Individual Name Structure Components

Mandatory

AtMax 10

To sequence individual name components for maximum specificity

300

Party Location

Opt

AtMax 2

To specify the location of the named party

400

Geographic Location

Opt

AtMax 1

To specify the geographic place of the named party

500

REF

Reference Information

Opt

AtMax 5

To specify identifying information

API

LOOP

Mandatory

GT 1

600

API

Activity or Process Information

Mandatory

AtMax 1

To provide information on activity or process

LOOP

Mandatory

GT 1

700

Party Identification

Mandatory

AtMax 1

To identify a party by type of organization, name, and code

800

Additional Name Information

Opt

AtMax 2

To specify additional names

900

Party Location

Opt

AtMax 2

To specify the location of the named party

1000

Geographic Location

Opt

AtMax 1

To specify the geographic place of the named party

1100

REF

Reference Information

Opt

AtMax 5

To specify identifying information

1200

PER

Administrative Communications Contact

Opt

AtMax 1

To identify a person or office to whom administrative communications should be directed

1300

AIN

Income

Opt

AtMax 5

To provide type and amount of income obtained

1400

DTP

Date or Time or Period

Opt

AtMax 1

To specify any or all of a date, a time, or a time period

PWK

LOOP

Opt

GT 1

1500

PWK

Paperwork

Opt

AtMax 1

To identify the type or transmission or both of paperwork or supporting information

1600

PER

Administrative Communications Contact

Opt

AtMax 1

To identify a person or office to whom administrative communications should be directed

1700

EMS

Employment Position

Opt

AtMax 1

To describe employment position

1800

NTE

Note/Special Instruction

Opt

AtMax 10

To transmit information in a free-form format, if necessary, for comment or special instruction

1900

DTP

Date or Time or Period

Opt

AtMax 4

To specify any or all of a date, a time, or a time period

2000

REF

Reference Information

Opt

AtMax 5

To specify identifying information

AIN

LOOP

Opt

GT 1

2100

AIN

Income

Opt

AtMax 1

To provide type and amount of income obtained

2200

DTP

Date or Time or Period

Opt

AtMax 1

To specify any or all of a date, a time, or a time period

NX1

LOOP

Opt

GT 1

2300

NX1

Property or Entity Identification

Opt

AtMax 1

To define the attributes of a property or an entity

2400

NX2

Location ID Component

Opt

AtMax 10

To define types and values of a geographic location

2500

ACT

Account Identification

Opt

AtMax 1

To specify account information

2600

NM1

Individual or Organizational Name

Opt

AtMax 10

To supply the full name of an individual or organizational entity

2700

PRD

Mortgage Loan Product Description

Opt

AtMax 1

To describe terms of a mortgage product

2800

PEX

Property or Housing Expense

Opt

AtMax 10

To provide housing expense information

2900

AMT

Monetary Amount Information

Opt

AtMax 5

To indicate the total monetary amount

3000

QTY

Quantity Information

Opt

AtMax 5

To specify quantity information

3100

YNQ

Yes/No Question

Opt

AtMax 5

To identify and answer yes and no questions, including the date, time, and comments further qualifying the condition

3200

DTP

Date or Time or Period

Opt

AtMax 10

To specify any or all of a date, a time, or a time period

3300

MSG

Message Text

Opt

AtMax 20

To provide a free-form format that allows the transmission of text information

FAA

LOOP

Opt

GT 1

3400

FAA

Financial Asset Account

Opt

AtMax 1

To provide duration, amount and associated information on financial assets

3500

NM1

Individual or Organizational Name

Opt

AtMax 5

To supply the full name of an individual or organizational entity

3700

QTY

Quantity Information

Opt

AtMax 1

To specify quantity information

3900

MSG

Message Text

Opt

AtMax 20

To provide a free-form format that allows the transmission of text information

DTP

LOOP

Opt

GT 1

3930

DTP

Date or Time or Period

Opt

AtMax 1

To specify any or all of a date, a time, or a time period

3960

AMT

Monetary Amount Information

Opt

AtMax 1

To indicate the total monetary amount

CDA

LOOP

Opt

GT 1

4000

CDA

Consumer Credit Account

Opt

AtMax 1

To provide duration, amount and associated information on consumer credit accounts

4100

NM1

Individual or Organizational Name

Opt

AtMax 5

To supply the full name of an individual or organizational entity

4200

QTY

Quantity Information

Opt

AtMax 1

To specify quantity information

4300

DTP

Date or Time or Period

Opt

AtMax 20

To specify any or all of a date, a time, or a time period

4400

MSG

Message Text

Opt

AtMax 20

To provide a free-form format that allows the transmission of text information

4500

Transaction Set Trailer

Mandatory

AtMax 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)

Elements

Position	Element	Name	Requirement	Type	Min/Max	Repeat

1	143	Transaction Set Identifier Code	Mandatory	ID	3/3	1

2	329	Transaction Set Control Number	Mandatory	Alphanumeric	4/9	1

3	1705	Implementation Convention Reference	Opt	Alphanumeric	1/35	1

EDI Dictionary

EDI 198 Loan Verification Information

Segments

Elements