Commercial Appraisal Development Workgroup
The Commercial MISMO (CMISMO) workgroup is updating MISMO's commercial appraisal standards to integrate advancements made in the real estate industry and appraisal processes over the past few years. Stakeholders involved in the exchange and finance of commercial property are welcome to participate in the effort.
CMISMO recently led an industry collaboration to create new standards for the exchange of commercial rent roll data, resulting in the first common method for defining and exchanging critical information that is required on all commercial loan originations. The new standards are expected to reduce errors and save commercial loan originators, lenders, and service providers valuable time and costs.
CMISMO's responsibilities specific to the commercial appraisal project include reviewing existing commercial appraisal data standards and soliciting input from industry participants. Based on this review, CMISMO will update MISMO's Commercial Reference Model and logical data dictionary (LDD); document use cases to enable ease of use; and develop sample XML files reflecting changes to appraisal related data definitions and formats.
If you are interested to participate with this group and are already a MISMO member join the collaboration site that has been established for this group. If you are not a member of MISMO, let us know that you would like to participate by sending a message to firstname.lastname@example.org.
Dario Canal, Fannie Mae, Co-Chair
Ralph Russo, Actualize Consulting, Co-Chair