MISMO Issues Call for Participants to Streamline the Exchange of Pre-Closing Title Data
Mortgage Bankers Association
WASHINGTON, D.C. (November 22, 2021) - MISMO®, the real estate finance industry's standards organization, today announced it is seeking participants for a new initiative focused on standardizing pre-closing title document datasets in order to streamline the business process and improve efficiency.
Today the process of reviewing pre-closing title data and documents is not standardized. In fact it differs from agent to agent, resulting in delayed document review and inefficiencies in pre-close procedures.
MISMO will focus on standardizing the datasets of these nationally-used pre-closing title documents: Closing Protection Letter (ALTA), Title Commitment (ALTA), and Request for Fee Sheet. A new development workgroup (DWG) will be created to complete the work... Read More Here!