MISMO standard for IRS tax transcript authorizations receives approval

National Mortgage News

The Mortgage Industry Standards Maintenance Organization on Tuesday formally voted to approve recommended language for tax-transcript authorizations in a move that suggests industry adoption has reached the point where it could start simplifying compliance reviews.

Broad adoption "ensures consistency, so that another party in the process has more confidence that the right disclosures were in place for the consumer," said Rick Hill, vice president of industry technology at the Mortgage Bankers Association and an executive vice president at MISMO... Read More Here!