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Below you will essential information in regards to this EDI. If you have any specific questions about integrating your EDI with your ERP and eCommerce please reach out. Take advantage of our "start planning" feature to map out your integration needs.
What is a 264 - Mortgage Loan Default Status document?
The 264 EDI document type contains information regarding the 264 - Mortgage Loan Default Status Transaction Set (264) for use within the context of an Electronic Data Interchange (EDI) environment.Standard EDI formats include X12, ANSI, EDIFACT and its subsets.
What makes up the 264 - Mortgage Loan Default Status document?
An EDI 264 - Mortgage Loan Default Status document is organized into segment and data elements. Examples of data elements on the 264 Mortgage Loan Default Status document includes borrower, property, address, loan type, Maturity Date, etc. There are an infinite number of possibilities available for a company to include data on an 264 Mortgage Loan Default Status document. There are an infinite number of possibilities available for a company to include data on an 264 - Mortgage Loan Default Status.
How is a 264 - Mortgage Loan Default Status used?
The 264 Mortgage Loan Default Status document allows all notifications of mortgage loan default/foreclosure status to be filed similarly, whether they be to an insurer, guarantor, investor, or servicer. Additionally, the 264 Mortgage Loan Default Status document can be used to submit notification of delinquent mortgage loans that could potentially result in foreclosure activity leading to the collection of a third party guarantee/insurance benefit. This document can be used to file default status reports, as well as foreclosure and bankruptcy information with servicers, attorneys, trustees, government agencies, private mortgage insurers and investors.
How is a 264 - Mortgage Loan Default Status processed?
An EDI solution is required to process the EDI documents received into an ERP or accounting system or into a readable format for manual entry. Each trading partner will have an EDI Implementation guide outlining the specific segments, data elements, values accepted, and the applicable business rules to be followed.
eBridge Connections has pre-built maps for all EDI transaction documents including 850 purchase orders, 810 invoices, and 856 advance shipping notices.