263 - Residential Mortgage Insurance Application Response

FUNCTIONAL GROUP=ME

This X12 Transaction Set contains the format and establishes the data contents of the Residential Mortgage Insurance Application Response Transaction Set (263) for use within the context of an Electronic Data Interchange (EDI) environment. This standard is used by a mortgage insurance company to communicate the receipt and disposition of a Residential Mortgage Insurance Application Transaction Set (872). It will be used to provide the mortgage originator with the results of the insurance application and, if accepted, will provide basic information about the insurance coverage. It can also be used to confirm certification of coverage. It is not intended to replace the legal commitment (Certificate of Coverage of Insurance) which will continue to be delivered in its current form.

SCHEMA

ST

Segment	Name	Position
ST	Transaction Set Header	0100
BGN	Beginning Segment	0200
N1	Party Identification	0300

LX

Segment	Name	Position
LX	Transaction Set Line Number	0100
N1	Party Identification	0200

REF

Segment	Name	Position
REF	Reference Information	0300
N1	Party Identification	0400
MIR	Mortgage Insurance Response	0500
TXI	Tax Information	0600
N9	Extended Reference Information	0650
MIC	Mortgage Insurance Coverage	0660

G63

Segment	Name	Position
G63	Period	0700
PCT	Percent Amounts	0800
SE	Transaction Set Trailer	0900

COMMENTS

Notes
1/0300	The N1 segment is used to identify the mortgage insurer and the organization initiating the Mortgage Insurance Application.
2/0200	The N1 segment is used to identify the name and possibly the identification of the insured.
2/0300	The REF segment is used to identify the loan number.
2/0400	The N1 segment is used to identify the borrower's name or social security number, or both.
2/0500	The MIR segment contains the mortgage insurance company's response to the application for mortgage insurance. If accepted, it will contain information about premium and coverage.
2/0600	The TXI segment is used to report state tax due on the mortgage insurance.
2/0700	The G63 segment is used to report the renewal time periods for the mortgage insurance.
2/0800	The PCT segment contains the premium rate used to calculate the renewal premium.

rev 29/11/2024