X12 transaction guide · Finance

EDI 261 Real Estate Information Request

The X12 document used to initiate, modify or cancel a request for real estate information among industry participants.

Sent by
Lender, servicer or other real estate participant
Received by
Appraiser, data provider or service vendor
Standard
ANSI ASC X12

What is an EDI 261?

The EDI 261 Real Estate Information Request is the ANSI X12 transaction set used to initiate, modify or cancel a request for real estate information. It transfers requests among real estate industry participants.

Lenders and servicers need property information such as valuations, flood zone determinations or property data. Ordering it electronically lets them manage many orders across vendors, with the results returned in the 262. Typical requests include appraisals and other valuations, flood zone determinations and property data reports, each with its own turnaround time.

How the EDI 261 worksDiagram of the EDI 261 Real Estate Information Request. Lender, servicer or other real estate participant sends it to appraiser, data provider or service vendor. It usually starts the exchange. It is usually followed by 262 and 997. Inside the ISA, GS and ST envelopes, X12 release 008010 requires, in the heading: BGN (Beginning Segment) and detail: the required LX loop with LX (Transaction Set Line Number) and the required NX1 loop with NX1 (Property or Entity Identification), NX2 (Location ID Component) and DTP (Date or Time or Period). 4 optional loops are listed by their first segment.How the EDI 261 worksReal Estate Information Request: who sends it, where it fits and what the standard marks required1 WHERE IT FITSUSUALLY FOLLOWSStarts the exchangeEDI 261SENDERLender, servicer orother real estateparticipantRECEIVERAppraiser, dataprovider or servicevendor997 or 999 acknowledgment back, if the partners agreeUSUALLY FOLLOWED BY262Real Estate InformationReport997FunctionalAcknowledgment2 WHAT X12 RELEASE 008010 REQUIRESInterchange: sender and receiver IDsISA … IEAFunctional group, ID code MEGS … GETransaction set 261ST … SEHEADINGBGNBeginning Segment+ 1 optional loop, starting with:N1DETAILRequired loop LX · repeats many timesLXTransaction Set Line NumberRequired loop NX1 · repeats many timesNX1Property or Entity IdentificationNX2Location ID ComponentDTPDate or Time or Period+ 3 optional loops, starting with:NM1PWKIN1Blue box: required loop. Optional loops are listed by the segment that starts them; when a loop is used, that first segment is required. Optional segmentsoutside loops are not drawn.Structure: required segments and loops in the X12 008010 listing for the 261. Your trading partner's implementation guide adds its own requirements.
How the EDI 261 worksDiagram of the EDI 261 Real Estate Information Request. Lender, servicer or other real estate participant sends it to appraiser, data provider or service vendor. It usually starts the exchange. It is usually followed by 262 and 997. Inside the ISA, GS and ST envelopes, X12 release 008010 requires, in the heading: BGN (Beginning Segment) and detail: the required LX loop with LX (Transaction Set Line Number) and the required NX1 loop with NX1 (Property or Entity Identification), NX2 (Location ID Component) and DTP (Date or Time or Period). 4 optional loops are listed by their first segment.How the EDI 261 worksReal Estate Information Request: who sends it,where it fits and what the standard marksrequired1 WHERE IT FITSUSUALLY FOLLOWSStarts the exchangeEDI 261SENDERLender, serviceror other realestateparticipantRECEIVERAppraiser, dataprovider orservice vendor997 or 999 acknowledgment back, if the partnersagreeUSUALLY FOLLOWED BY262Real Estate Information Report997Functional Acknowledgment2 WHAT X12 RELEASE 008010 REQUIRESInterchange: sender and receiver IDs (ISA… IEA)Functional group, ID code ME (GS … GE)Transaction set 261 (ST … SE)HEADINGBGNBeginning Segment+ 1 optional loop, starting with:N1DETAILRequired loop LX · repeats manytimesLXTransaction Set LineNumberRequired loop NX1 · repeatsmany timesNX1Property or EntityIdentificationNX2Location IDComponentDTPDate or Time or Period+ 3 optional loops, starting with:NM1PWKIN1Blue box: required loop. Optional loops are listedby the segment that starts them; when a loop isused, that first segment is required. Optionalsegments outside loops are not drawn.Structure: required segments and loops in the X12008010 listing for the 261. Your trading partner'simplementation guide adds its own requirements.

How to read this diagram: the top row shows who sends the 261, to whom, and which documents usually come before and after it. The lower part shows what X12 release 008010 itself requires: the envelopes around the 261 and the segments and loops the standard marks as required, area by area. Optional loops are listed by the segment that starts them rather than drawn in full. This is the standard's minimum, not a trading partner's requirement: each partner's implementation guide usually makes some optional loops mandatory, restricts the codes and may use a different release.

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When it is used

  • Ordering property valuations
  • Requesting property data reports
  • Changing or cancelling information requests

Where it fits in the document flow

This document 261 Real Estate Information Request

Structure

Mandatory segments in the 261 (X12 release 008010)

The segments X12 release 008010 marks as mandatory at their level, in order. Segments inside optional loops are needed only when the loop is used. This is the standard's requirement, not your trading partner's: each partner's implementation guide names the release it uses, adds the optional segments it requires and restricts the values. The requirement status comes from one published X12 reference listing and has not been checked against a second source.

  • ST
  • BGN
  • N1
  • LX
  • NM1
  • NX1
  • NX2
  • DTP
  • PWK
  • IN1
  • SE

Practical example

The 261 in practice

A lender needs a valuation for a refinance. Its loan system sends an appraisal management company a 261 with the property address, the loan purpose and the type of valuation required. The company assigns an appraiser and returns the completed report with a 262.

Implementation

Implementation considerations for the 261

  • Specify the type of information needed precisely.
  • Follow regulations on appraiser independence where relevant.
  • Track each order until its results arrive.
  • Cancel orders that are no longer needed.

Need help with the EDI 261?

ECOM maps, tests and monitors X12 documents for your trading partners and integrates them with your ERP.