MISMO Seeks Comment on Reporting Guide to Facilitate the Exchange of Forbearance Data

MISMO®, the real estate finance industry's standards organization, today announced that it is seeking public comment on a new guide and sample credit response designed to help industry professionals using MISMO Reference Models v3.4 and v3.5 better report on loans that have been in or are in forbearance. 

This guide and sample response facilitates standardized visibility into accounts, not limited to mortgages, that have been in, or are currently in, forbearance pursuant to the CARES Act of 2020. The Forbearance Reporting Guide will assist implementors with how to standardize forbearance indicator data from the national credit repositories. The guide covers how to extend the MISMO credit reporting standard to include additional information on credit liabilities that are in or have been in forbearance more accurately and eliminates the guesswork involved in interpreting free form comments... Read More Here!