Consumer-Facing Charge and Fee Guide
MISMO® announced publication of updates to its Consumer-Facing Charge and Fee Naming Guide as Candidate Recommendation status on September 11, 2025.
This work enables lenders to:
- Improve Fee Transparency: By replacing vague “other” fee labels with specific, standardized names, lenders can present clearer, more consumer-friendly disclosures on Loan Estimates and Closing Disclosures.
- Ensure Data Accuracy and Consistency: Standardized fee terminology supports accurate data transmission to GSEs and aggregators, aligning with delivery requirements and reducing the risk of compliance issues.
- Reduce Operational Costs: Uniform fee naming conventions streamline system integrations and data workflows, minimizing manual interventions and promoting end-to-end data cleanliness.
- Advance Secondary Market Alignment: By moving toward standardized data practices, lenders demonstrate progress in meeting expectations from Fannie Mae and Freddie Mac, reinforcing trust and reliability in the secondary market.
Access Information for Members
MISMO Members can access the work product in the Resource Library housed on MISMO's Collaboration Site, "MISMO Connect" here.
Access Information for Non-Members
Non-MISMO members can access the work product here.