MISMO releases new dataset, seeks comment

Dodd Frank Update

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... Read More Here!