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Mortgage Record Change

Completed Foreclosure 105

105

In foreclosures, the borrower has lost all rights, privileges, and possession of the property due to a long term inability to make payments on their existing mortgage loan. The borrower has exhausted all means possible to avoid foreclosure and the mortgagee manages transferring the title of the property to themselves, a third party bidder, HUD, or the VA, depending on the type of loan.

When using code 105, the DTP03 element should contain the date that the title for the property was transferred form the borrower to the new owner.

State Farm will schedule this change for an underwriting review.

266 Data Format Description
ISA*00*0000000000*00* *ZZ*123456789*ZZ*STFM SF00014 *041115*0817*U*00401*000000010*1*P*~ This is the envelope segment for the 266.
  • 000000010 is the unique number for this envelope.
GS*MG*123456789*STFM   SF00014 *20041115*0817*10*X*00401X132~
  • This is the group segment for the 266.
  • 10 is the unique number for this group.
ST*266*00000010~
  • This is the transaction segment for the 266
  • 00000010 is the unique number for this transaction.
BGN*00*1800*20041114******03~
  • This is the beginning segment for the 266.
  • 00 Original
  • 1800 a unique number of the sender.
N1*SJ*INSURANCE TRACKING CO*FI*123456789~ This is the sender of the 266.
  • LV Lender or
    SJ Service Provider
  •  FI Federal Tax ID
  • 123456789 is the Tax ID of the sender
N1*IN*STATE FARM INS*FI*37053100~ This is the receiver of the 266.
  • IN Insurer or
    SQ Service Bureau.
  • FI Federal Tax ID
  • 37053100 is the Tax ID of the receiver.
LX*1~ This is a separator. It separates the sender/receiver information from the buying and/or selling lender information. The number can increment.
N1*LV*A-ONE MORTGAGE*FI*133947742~N2*ITS SUCCESSORS AND/OR ASSIGNS~N3*PO BOX 99999~N4*ANYTOWN*CA*914100212**RJ*XX~ This series of segments (N1, N2, N3, and N4) represents the exact mortgage clause that should be reflected on the insurance policy.
  • LV Current Lender
N9*LD*0000000001~
  • The N9 segment is the start of the insurance policy information.
  • LD Loan Number.
NM1*QP*1*RICHARDS*MARY*K~N3*9999 WOODVIEW LANE~N4*CHICO*CA*959267705~
  • This is the name and mailing address of the borrower (insured).
  • QP Borrower
REF*TV*HOME~ Valid policy types are:

HOME, PPTHO, PPUHO, FLOOD, COTHR, RDP, DFIRE, EQKP, FARM, BOAT, RCUP, PPMBH, PPCHO, PPART, BOP. The policy type will be returned in the 824 if corrected.
  • TV Line of Business
REF*IG*551252837~
  • The policy number will be returned in the 824 if corrected.
  • IG Policy Number.
REF*NF*25143~
  • The company code will be returned in the 824 if corrected.
  • 25143 SF Fire
  • 43419 SF Lloyds
  • 25151 SF General
  • 10739 SF Florida
API*A1**105~
  • 105 Completed Foreclosure
N3*9999 WOODVIEW LANE~N4*CHICO*CA*959267705~
  • This is the property address.
DTP*009*D8*20040312~
  • The policy process date for a foreclosure is the date the property title transferred to the new owner.
  • 009 Title Transfer Date
DTP*540*D8*20040115~
  • The policy expiration date will be returned in the 824 if corrected.
  • 540 Policy Expiration Date
REF*UA*1~
  • Valid loan types are 1, 2, or 3.
  • UA Mortgage Order
CRC*A1*Y*T5~
  • This segment identifies if a return Insurance Verification is needed.
  • Y No Insurance Verification
  • N Insurance Verification
PID*S*02*AD*MG~
  • MG Bill the Mortgagee
  • IN Bill the Insured.
The next policy goes here by repeating the N9 – PID segments.
SE*24*00000010 SE01 is the number of segments. SE03 is the same number as ST02.
GE*1*10~ GE03 is the same number as GS06.
IEA*1*000000010~ IEA02 is the same number as ISA12.