This transaction set enables one party to request detailed real estate and property information from another. Typically sent by lenders, servicers, title companies, or real estate professionals to property appraisers, inspectors, county assessors, or information providers, the 261 initiates the process of gathering data needed for loan origination, servicing, underwriting, or property transactions. The BGN (Beginning Segment) establishes the request context and purpose, while the LX (Assigned Number) loop organizes each distinct information request, and the NX1 (Property or Entity Identification) loop specifies the particular properties or entities about which information is sought. Within each property request, the NM1 (Individual or Organizational Name) loop identifies parties involved, and detailed segments such as PDS (Property Description), REA (Real Estate Property Information), and REC (Real Estate Condition) allow requesters to specify what real estate data is required.

For example, First National Bank sends a 261 to County Appraisal Services requesting property valuation and condition information for a residential mortgage application. The transmission includes one LX loop for the appraisal request, which contains an NX1 loop identifying the subject property by legal description and parcel number, along with PDS segments detailing the property boundaries and a YNQ (Yes/No Question) segment asking whether the property meets specific lending criteria. An NM1 loop identifies the borrower and the property owner, and additional REF segments cross-reference the loan number and application ID. County Appraisal Services receives the 261, processes the request, and prepares a corresponding response transaction containing the requested property data.