Intro to iLAD - Loan Application Data in a Post ULAD World Webinar
What do you do when the industry moves, and something that is a stable for business is left behind? Business partners in the mortgage origination space faced that exact dilemma when working through the changes for the redesigned URLA: The 'old' Fannie Mae 3.2 file was going to become obsolete for applications on the new URLA (Uniform Residential Loan Application); and, the interfaces to the GSE AUS systems were also modified to adopt data formats based on the ULAD (Uniform Loan Application Dataset) specifications. Through MISMO, several industry voices identified this need, came together in a MISMO workgroup and offered a replacement: Industry Loan Application Dataset or iLAD.
Through the participation of industry representatives spanning the loan lifecycle, from application through closing, service providers and servicers, the industry assembled a specification for loan application data that can be used to facilitate the predictable, relevant and efficient data exchange between business partners that occurs today, and establish the foundation for a shared specification that can evolve with the industry in the future.This webinar will be an introduction to the iLAD specification that will assist those interested in and responsible for data exchange between systems with understanding the scope and purpose of the specification, the structure of the schema and the iLAD wrapper and how to participate in the ongoing development of the iLAD spec through participation in the MISMO workgroups and communities of practice.
- A recording at the webinar "Intro to iLAD - Loan Application Data in a post ULAD World Webinar " that took place on March 24th, 2020 is provided for free to MISMO members at link HERE!