Creating A EDI Export File
You will need to run the EDI Export in the Event Manager to create an EDI export file. The EDI file can be based on any system-delivered transaction set as each EDI file contains specific information about the loans that you need to report to your trading partner.
When you run EDI Export, you must define criteria for the event. For more information, see Running the EDI Export. You may also need to schedule the EDI Export event to run at particular times.
The schedule is determined by your trading partner's business rules, and you must set the schedule accordingly. For example, FHA assumptions must be reported within 10 days of the day that the assumption took place. To ensure proper reporting, you should schedule the Assumption Transaction Set (TS266) to run every Friday.
Note: If you create an EDI file for any of the three TS266 transaction sets (assumptions, loan transfers, or mortgage terminations), the information for the other two transaction sets is included in the EDI file automatically.
The TS264 transaction set is used to report loans that are in default. You must report loans that are in default by the 5th of the month. These loans are not in default until the 1st of the month, so you must run the TS264 transaction set between the 1st and the 5th of the month. Servicing Director uses X12 [standard version 004040] for data mapping TS264.
Note: The TS264 transaction set reports defaults on FHA loans to HUD. The system has an event called New FHA Defaults that you should run after the 1st of the month, but before you run the TS264 transaction set. This event is in Event Manager in the Updates group under the Collections category. The New FHA Defaults event creates a default tracking record and adds a comment for FHA loans that are in default as of the 1st of the month.
You must run EDI Export to create a new EDI export file. You also need to run the EDI Export event as a part of the process used to create an EDI export file to handle resubmissions for specific loans or to re-create an existing EDI export file (if you must resend an entire file). When your trading partner receives the EDI export file, they should send you a confirmation - a Report 997. If your file has been rejected, the Report 997 tells you why. (You may or may not also receive a more detailed error report, depending on your trading partner.) If your file has been rejected, you must re-create the EDI export file with the corrected data and resubmit it to your trading partner.
Note: If your EDI export file is for FHA loans, your file may be rejected because of incomplete FHA information. You can run the FHA Missing Data report to determine what data is missing so that you can correct the data and re-create the EDI file. The FHA Missing Data report is in the Event Manager in the Tracking category, in the Reports group. If you have FHA loans, you should run this report on a regular basis.
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