Commercial Appraisal Development Workgroup
Join MISMO's Commercial Appraisal DWG!
The Commercial MISMO (CMISMO) workgroup is updating MISMO's commercial appraisal standards, which have not been updated in more than 10 years, to integrate advancements made in the real estate industry and appraisal processes. Any stakeholder involved in the exchange and finance of commercial property is 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 will include reviewing existing 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