MISMO® Proposes Updates to the Industry Loan Application Dataset

Adam DeSanctis

iLAD - first released in September 2019 - is a compendium of data points included in the new Uniform Residential Loan Application (URLA), the Government Sponsored Enterprises' (GSEs) new Automated Underwriting System (AUS) interfaces, and the existing Fannie Mae 3.2 file. iLAD is expected to replace the many peer-to-peer data exchanges that currently utilize the Fannie Mae 3.2 file as a de facto data exchange standard.

The updated iLAD has incorporated changes that had been previously made to its source files, including the Uniform Residential Loan Application dataset, Version 1.8; Desktop Underwriter AUS Request dataset, Version 1.8; and Loan Product Advisor AUS Request dataset, Version 5.0.06. iLAD is being released for a 30-day comment period and will remain open until April 10, 2020.