EDI 263 Residential Mortgage Insurance Application Response

What is an EDI 263 Residential Mortgage Insurance Application Response? 

EDI 263 is an electronic document that is used to send a response to an application filed for mortgage insurance. The transaction set can be used for the following purposes: 

• For communicating the receipt of the residential mortgage insurance application  
• For disposition of the residential mortgage insurance application  
• For providing the results of the insurance application  
• For providing information related to insurance coverage 
• For confirming the certification of coverage 

EDI 263 cannot be used for replacing the legal commitment.  

To streamline the process of information exchange, an EDI solution with transaction building and parsing capabilities is used by businesses.  

Workflow for the Exchange of an EDI 263 Residential Mortgage Insurance Application Response 

EDI 263 falls under the category of X12F Finance transaction sets. Mortgage lenders, mortgage originators, and other interested parties use this transaction set for sending and receiving information about residential mortgage insurance results insurance coverage.  

Stay EDI Compliant with EDIConnect 

EDIConnect is an EDI solution that is designed to handle EDI X12 and EDIFACT transaction sets. EDIConnect, bundled with its built-in EDI parser, validator, and transaction builder, makes the process of sending and receiving EDI messages quick and easy. It also enables businesses and trade partners to communicate in a seamless manner and achieve EDI compliance.