What is an EDI 872 Residential Mortgage Insurance Application?
EDI 872 transaction set helps a mortgage organizer to request mortgage insurance and provide any supporting information required to get mortgage insurance agreement on single or multiple residential mortgage loans. EDI 872 is also used in combination with other transaction sets to provide any information necessary to get an automated underwriting decision by a residential real estate automated system of underwriting.
The data contents and format of EDI 872 Residential Mortgage Insurance Application are used for the electronic interchange of information. It is divided into various segments and data elements.
Workflow for the Exchange of an EDI 872 Residential Mortgage Insurance Application
EDI 872 falls under the category of X12F Finance. This transaction set requests mortgage insurance on behalf of mortgage organizer. The goal is to ask for any supporting information required to get mortgage insurance agreement on single or multiple residential mortgage loans.
Stay EDI Compliant with EDI Connect
With a built-in message parser, validator, and transaction builder, EDIConnect can handle transaction sets in X12, EDIFACT, and HL7 formats. This helps businesses easily exchange EDI documents with their trading partners, allowing them to stay EDI compliant. Using EDIConnect, users can automate file uploads and downloads, create workflows, and transform files into the required format to streamline the process.