BWIC Template Mapping Specification
The BWIC Template Mapping Specification has been approved for Candidate Recommendation in November 2022.
The BWIC Data DWG has worked to create a standardized template to facilitate the bidding process for Mortgage-Backed Securities (MBS) between mortgage originators and dealers for Bids wanted in Competition (BWIC).
More mortgage originators are choosing MBS execution than ever before and are distributing BWICs, a formal request for bids on a package of securities, to securities dealer desks. Currently, the information transmitted to dealers is not standardized; as a result, dealers are having trouble keeping up with the increased volume of BWICs, which can lead to delays, lower pricing and less participation in the BWIC than desired.
In late 2021 Industry participants came together to form a MISMO BWIC Development Work Group (DWG) to develop a homogenous/standardized format in excel, that MBS sellers could present BWIC data to dealer desks to facilitate accuracy, liquidity and rapid pricing by the dealers for the BWIC lists.
Access Information for Members
Access Information for Non-Members
Non-MISMO members can access the work product here.