MISMO Accomplishments


MISMO creates essential standards designed to increase efficiency, accelerate our industry’s digital transformation, and enhance the interoperability of data, systems, and technology platforms in real estate finance.   

MISMO solutions lead to lower costs throughout the mortgage process; reduced friction as information is shared effectively between the various parties in the mortgage transaction; faster, more efficient loan closings; enhanced innovation across the industry; improved regulatory and counterparty compliance; and reduced levels of fraud. 

Below are a few highlights of the accomplishments MISMO achieved in 2022 to improve efficiency and reduce costs:

MISMO also made substantial progress in enhancing the interoperability of data, systems, and technology platforms:

And MISMO delivered value to the industry through initiatives that are accelerating our industry’s digital transformation:

Beyond the numerous standards and helpful resources published this year, MISMO continues to make significant progress on many other high priority initiatives, including:

  • Servicing Transfers work to create a catalog of information that will form the basis of best practices and potentially an industry standard data exchange for transfers of servicing information.  
  • A new standardized Private Label Securitization (PLS) dataset to improve the quality and consistency of data sent to rating agencies and third party review firms, for faster, more efficient, and more accurate due diligence for private label RMBS.
  • A new CoP on Environmental, Social and Governance (ESGis working to help the industry successfully navigate and innovate in the evolving ESG landscape by defining and streamlining the exchange of ESG information.
  • Two new initiatives that are moving forward have the potential to ease significant friction for lenders.
    • The first will standardize the Regulatory Loan Examination File submitted by lenders to state regulators.
    • The second will build a standardized Housing Counseling dataset for housing counseling agencies to exchange information with their lender partners, improving connectivity in this vital relationship. 

We’ve also continued to enhance and maintain key industry resources including:

  • An Enhanced Logical Data Dictionary (ELDD) that enables business and technology professionals to easily find out which data elements are available within the MISMO Reference Model and shows how each data element fits into the Logical Data Model, XML Schema and API Toolkit.
  • MISMO Business Glossary, an enhanced online resource of mortgage industry business terms and data point descriptions enabling easy access via hashtags to the list of terms associated with iLAD, ULDD, UAD, UCD, and much more.
  • MISMO Life of Loan, a high-level business process model depicting common activities that may occur over the life of a mortgage loan.

Finally, MISMO’s membership roster exceeded 500 members this year including the GSEs, FHLBs, housing agencies, and regulators among others, cementing MISMO’s status as a unique forum for collaboration across the industry when it comes to initiatives that tackle business, operational, and technological challenges. 

Learn more about MISMOs recent accomplishments and other news at MISMO News.   

Learn also how you can participate in a MISMO workgroup.  

Don’t just listen to us, hear what some of our MISMO participants are saying: