MISMO® Approves Taxpayer Consent Language As New Standard

Mortgage Bankers Association

MISMO®, the mortgage industry's standards organization, today announced that its successful Taxpayer Consent Language is approved as a new standard. MISMO's Taxpayer Consent Language was created to provide a consistent way for the mortgage industry to comply with the new requirements of the Taxpayer First Act that went into effect at the end of 2019. The law requires taxpayers to provide consent for the express purpose for which their tax information will be used. The MISMO consent language is widely used across the industry since it allows lenders to share tax information received from the Internal Revenue Service (IRS) with other parties involved in a mortgage transaction... Read More Here!

Learn more about the Taxpayer Consent Langague on mismo.org.