What is an EDI 198 Loan Verification Information Document?
EDI 198 is an electronic document containing the information required for the verification of a loan. This information is exchanged among entities involved during the loan lifecycle.
This EDI document can be used for the following purposes:
- To request information regarding loan verification
- To validate information regarding loan verification
- To exchange information regarding loan verification
The data contents and format of EDI 198 Loan Verification Information are used for the electronic interchange of information. It is divided into various segments and data elements.
Workflow for the Exchange of an EDI 198 Loan Verification Information Document
EDI 198 falls under the category of X12F Finance transaction sets. It is used by mortgage insurance companies, investors, lenders, depository institutions, employers, and credit agencies. These parties use the EDI 198 transaction set to exchange information required for loan verification.
Stay EDI Compliant with EDIConnect
Simplifying the process of sending and receiving EDI messages, EDIConnect is designed for handling all X12, EDIFACT, and HL7 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