Executive Summary of MISMO Accomplishments

Check out MISMO related videos and clips below:

• Mortgage industry experts discuss the benefits of adopting MISMO standards
• An eMortgage History
• Experts discuss why you should Get Involved with MISMO
• Industry Experts share their successes with MISMO Standards

Here are highlights of MISMO initiatives which improve efficiency and communications between business partners and save time and money.

In 2020 MISMO:

• Updated the Logical Data Model to include JSON support for mobile; 

• Released MISMO Verion 3.4 which includes enhancements to GSEs Uniform Loan Application Dataset (ULAD) and CFPB's Home Mortgage Disclosure Act; 

• Created Industry Loan Application Dataset (iLAD) which provides a standard way for the mortgage industry to exchange loan application information; 

• Created Taxpayer Consent Language which is used by a range of organizations including lenders, government-sponsored entities, IRS form 4506-T fulfillment vendors, mortgage insurers, and due diligence firms; 

• Launched Standardized Closing Instructions templates to enable lenders to communicate more effectively with settlement agents; 

• Focused on facilitating seamless Servicing Transfers allowing for a more consistent experience for servicers and consumers; 

• Created Remote Online Notarization (RON) standards which have enabled remote closings during the pandemic; 

• Implemented RON Certification to assist lenders in identifying product vendors that meet MISMO standards;

• Created Digital Mortgage Resource Center;

• Announced an Innovation Investment Fee to speed deployment of an industry digital solution.