88Special Condition Codes
Status Code 88: Claim Filed with Government
Claim filed with government for insured portion of the balance
Overview
- Used primarily for government-insured loans (FHA, VA, USDA)
- Indicates lender has filed claim for insurance coverage
- Balance may be reduced by government payment
- Consumer may still owe remaining balance not covered by insurance
Common Use Cases
- 1FHA mortgage insurance claim filed after foreclosure
- 2VA loan guarantee claim submitted
- 3SBA loan guarantee claim filed
Reporting Guidelines
- Report accurate balance reflecting any insurance payments received
- Maintain delinquency history
- Update status as claim is processed
Other Special Condition Codes
Codes that travel with status 88
- Payment Rating carries the delinquency when the status describes a closed or terminal condition.
- Payment History Profile codes must agree with the current rating in position 1.
- Portfolio Type and Account Type decide which statuses are even possible for the account.
- Metro 2 codes cheat sheet lists every set in field order.
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