|The Mortgage 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 mortgage record changes or deletions to financial interest entities
- Notification of mortgage record change errors
The mortgage company and their agents send a 266 to the insurance company requiring the correct mortgage clause for their policies. Business information exchanged includes mortgagee name and address changes, loan number changes, terminations, servicer changes, prepayment or paid-in-full information. The insurance company uses the 824 to notify the sender of the 266 that errors were found in the 266 application information.