Consumer-Facing Charge and Fee Guide
MISMO is seeking public comment on a new Consumer-Facing Charge and Fee Guide. The 60-day public comment period runs through July 3, 2023.
MISMO developed this guide to promote the uniform application of fee names and descriptions for the purpose of creating consistency across the industry and to facilitate efforts to comply with regulations. These efficiencies ultimately reduce costs and save time for all parties involved.
The new Consumer Facing Charge and Fee Guide will benefit lenders and vendors by providing a standard set of expected fee names and descriptions for the Loan Estimate and Closing Disclosure for commonly used fees.
This proposed MISMO Product (as defined in MISMO's 2018 Intellectual Property Rights Policy) was published for the purpose of providing an opportunity for comment on the product as well as to afford Participants (as defined in MISMO's 2018 Intellectual Property Rights Policy) who worked on this MISMO Product at least thirty (30) days' notice prior to final release of the product in order to review the product and disclose any applicable Patent Rights (as defined by MISMO's 2018 Intellectual Property Rights Policy). Disclosures should be submitted using MISMO's IPR Disclosure Form. Comments should be submitted to [email protected].Any other use of this MISMO Product, including implementation, is prohibited at this time. At the conclusion of the IPR and Patent Review period, this MISMO Product will be published pursuant to MISMO's 2018 Intellectual Property Rights Policy and all applicable Product Licenses will apply.
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.