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Back   Automobile Property Record Change Notification (003060X027)

Purpose

The Automobile Property Record Change Notification Implementation Guide describes the use of the ANSI ASC X12 Mortgage Record Change (266) transaction set and the ANSI ASC X12 Application Advice (824) transaction set for the following business usages:
  • Notification of changes in financial interest on auto property records
  • Notification of auto property record change errors

The mortgage company and their agents send a 266 to the insurance company to notify the company of changes in financial interest on auto property insurance, such as termination of financial interest (loan payoff), change or addition of endorsements, consolidation of financial institutions (mergers), and acquiring of new loans (acquisitions).

The insurance company uses the 824 to notify the sender of the 266 that errors were found in the 266 application information.

Primary Trading Partners

Financial lending institutions, insurance companies, servicing agents, and service bureaus.

Exceptions/Limitations

Intended for use for notifying insurers of changes in financial interest on an auto property loan.

References

This is the first implementation guide for this business purpose.

Coordination

No coordination required at this time with other ANSI ASC X12 groups.

Additional Information

Registered 4/15/1996 Published 9/9/1997
Transaction Set ID 266/824 Standard Version 003060
ASC X12 DM# Owning Group X12N/TG1/WG1