MISMO Issues Standard Closing Instructions
MISMO®, the mortgage industry's standards organization, has issued new templates for closing instructions. Lender adoption of the templates is expected to reduce the miscommunication and resulting errors that occur at closing due to the wide variance in formats that currently exists. The templates focus on the format and organization of closing instructions rather than the legal language that a lender may include in the instructions. The Closing Instruction Templates will be available... read more here!