MISMO Wins 2021 HousingWire Tech100 Mortgage Award
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MBA and MISMO boards of directors endorsed a funding model of a $0.75 fee for all new loans, the billing occured in early February, 2021. For the first year only, the bill will include originations for the six-month period from July 1, 2020 through December 31, 2020. Learn more about the innovation investment fee here.
MISMO has released a new standardized dataset meant to improve the quality and consistency of mortgage asset data sent to the rating agencies and is seeking public comment.Known as the private label securitization (PLS) standard, this new dataset should lead to improved due diligence for private label residential mortgage-backed securities, MISMO said.“If market participants are going to truly capitalize on the increased volume of loans for which PLS may be the best execution in the secondary market due to GSE policy changes and home price appreciation – particularly for the second home, investor property, and jumbo mortgages – then they need the increased capacity and efficiency that comes from data standardization,” MISMO President Seth Appleton said in a release.
MISMO Issues Call for Participants for New Workgroup Focused on Creating Business Reference Architecture
MISMO®, the real estate finance industry's standards organization, today announced it is seeking participants for a new development workgroup (DWG) focused on the creation of a Business Reference Architecture.The DWG is focused on creating a "starter kit" that will enable industry professionals to quickly implement MISMO standards according to their business needs. The kit will include multiple components, such as recommendations, best practices and design, supporting faster and more streamlined implementations that enable industry to gain efficiencies and business benefits with speedier adoption.
MISMO®, the real estate finance industry's standards organization, today announced it is seeking public comment on its new standardized dataset which facilitates the electronic exchange of mortgage asset data to credit rating agencies. The 90 day public comment period for the dataset runs through November 5, 2021.
Prior to the Great Recession, private label securitizations (PLS) constituted a majority of all residential mortgage-backed securities (RMBS) issued. In the intervening years, the makeup of the RMBS market has changed significantly and, today, Fannie Mae, Freddie Mac, and Ginnie Mae are responsible for approximately 99% of RMBS issuance. For a variety of reasons, including recent policy changes at Fannie Mae and Freddie Mac that cap second home and investor property loan volumes, and growth in jumbo loan volume driven by increasing home prices, there has been renewed interest in the PLS market and its future growth.
MISMO Seeks Participants for Phase Two of Commercial Appraisal Dataset Standard Focusing on Retail, Office, Industrial Properties
MISMO®, the real estate finance industry's standards organization, seeks participants for a new development workgroup (DWG) for the Next Generation 4.0 Reference Model (RM).The Next Gen 4.0 RM DWG is pursuing a new methodology to manage the underlying master data in the Reference Model to improve the successful adoption of MISMO work products. This RM will enable industry stakeholders to implement MISMO-based solutions in a more timely and cost-effective manner.