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X12 EDI 191 DocData contents of the Student Loan PreClaims and Claims Transaction Set (191) for use within the context of an Electronic Data Interchange (EDI) environment.This transaction set can be used by lending institutions (lenders), secondary markets, or student loan servicers to exchange information with guarantee agencies (guarantors) regarding preclaims assistance on student loans that are approaching a default status and claim payment requests for defaulted student loans. This information includes, but is not limited to, borrower identification, loan detail, payment history, and due diligence history. Federal regulations require loan owners to file a preclaims assistance request as part of their due diligence process, prior to filing a claim for default reimbursement. Loan owners are also required to file specific information to submit a claim payment request. |
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