Join MISMO's Servicing CoP!
The Servicing Community is working to develop and maintain data standards used for electronic exchange between trading partners related to servicing activities. In addition, the Workgroup develops supporting documentation to provide guidance in the use of these data standards.
Servicing includes day to day administration of mortgage loans including:
- New loan boarding on servicing systems
- Payment collection and application
- Management of interest and payment adjustments
- Escrow management
- Default management
- Customer service
- Regulatory compliance
- Loan investor reporting (including contract management)
- Communication of Servicing data to Third Parties (vendor management, Servicing Transfers)
The Servicing Community focuses on the areas of the MISMO Reference model that support servicing activity. The community is continuing their work on a significant volume of modifications to the model in response to recent regulations and industry updates. The Servicing community has been focused on mapping the servicing transfer data requirements for the MBA Servicing Transfer community.
If you are interested to participate with this group and are already a MISMO member you may join the collaboration site that has been established on "MISMO Connect". If you are not a member of MISMO, let us know that you would like to participate by sending an email to firstname.lastname@example.org . For information on how to become a MISMO Member, see here.
Cathy Clark, Black Knight, Co-Chair
Geran Combs, Actualize Consulting, Co-Chair
Mark Friend, Freddie Mac, Co-Chair