Version 3.4 Supports a New GSE Initiative

On February 1, 2016 MISMO announced and introduced a new model, version 3.4, in support of multiple regulatory and industry reporting requirements including the new Uniform Loan Application Dataset (ULAD).

The GSEs have a project underway to update and redesign the Uniform Residential Loan Application (URLA) (Fannie Mae form 1003/Freddie Mac form 65) and develop a corresponding standardized dataset, the ULAD. The publication of the version 3.4 Reference Model, is a key milestone for this project, which is a Federal Housing Finance Agency (FHFA) scorecard objective to support mortgage data standardization. The loan application data included in the ULAD will enhance eligibility determination, underwriting and data quality in the loan manufacturing process.   

Fannie Mae's automated underwriting system, Desktop Underwriter® (DU®), currently supports MISMO version 2.3.1 and Freddie Mac's automated underwriting system, Loan Prospector® (LP®), supports version 2.4.  These older MISMO standards are document type definition (DTD) based and are no longer supported by MISMO. ..Read More Here

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