EDI 264 Mortgage Loan Default Status

What is an EDI 264 Mortgage Loan Default Status Document?

EDI 264 is an electronic document containing information about mortgage loan default status. It helps in notifying about the status of the mortgage loan and sending alerts about loans that have a potential to default.  

The transaction set can be used for the following purposes: 

• To file reports for default status loans 
• To file reports for foreclosure  
• To file bankruptcy information  
• To notify attorneys, government agencies, and parties dealing in mortgage loans about the status of the loan 

The data contents and format of EDI 264 Mortgage Loan Default Status are used for the electronic interchange of information. The information is mapped to EDI 264 format using an EDI solution.  

Workflow for the Exchange of an EDI 264 Mortgage Loan Default Status Document

EDI 264 falls under the category of X12F Finance transaction sets. Mortgage insurers, real estate agents, investors, and guarantors use this transaction set to file notifications of mortgage loan default status. Information is also exchanged about loans that may probably result in a foreclosure using an EDI 264 document. It can also be used in conjunction with other transaction sets to provide information related to mortgage loans. 

Stay EDI Compliant with EDIConnect

Simplifying the process of sending and receiving EDI messages, EDIConnect is designed for handling all X12 and EDIFACT transaction sets. Featuring a built-in EDI translator, validator, and transaction builder, EDIConnect aids communication between trading partners, as well as helps them streamline the process of information exchange through process orchestration.