MISMO Announces New PLS Dataset And Seeks Public Comment
Mortgage Bankers Association
MISMO®, the real estate finance industry's standards organization, today announced it is seeking public comment on its new standardized dataset which facilitates the electronic exchange of mortgage asset data to credit rating agencies. The 90 day public comment period for the dataset runs through November 5, 2021.
The new MISMO private label securitization (PLS) standard will improve the quality and consistency of the data sent to the rating agencies, which will in turn lead to faster, more efficient, and more accurate due diligence for private label residential mortgage backed securities (RMBS).
"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," said Seth Appleton, president, MISMO... Read More Here!