MISMO Releases Closing Instructions Templates for Public Comment
Templates were developed through a collaborative effort across many sectors of the mortgage ecosystem. National and regional lenders, title and settlement services companies, escrow companies, LOS vendors and document preparation vendors worked together to develop templates that work for all parties involved in the closing process. The results of this collaborative process are expected to contribute to improved communications between parties, reduced errors and a better consumer experience.
The new closing instruction templates and implementation guide can be accessed at http://www.mismo.org/standards-and-resources/residential-specifications/other-residential/closing-instructions. Industry participants who have comments or questions can contact MISMO at firstname.lastname@example.org.The comment period is also intended to afford workgroup participants who worked on the proposed closing instruction templates...read more here!