Mortgage Compliance Dataset (MCD)

MISMO is seeking public comment on a new Mortgage Compliance Dataset (MCD) specification. The 60-day public comment period runs through 06/14/2024.

The MCD is an industry standard loan data file, based on the MISMO Version 3.6.0 XML Reference Model that was created for:

  • State and Federal Regulators - to use (with their compliance vendor) to perform automated compliance testing of closed loans as part of mortgage origination compliance exams; and
  • Mortgage Lenders - to use (with their compliance vendor) to perform automated compliance testing of loans throughout the loan origination and post-closing processes

The MCD specification is a conversion of a fixed format Loan Examination File (LEF) to the XML schema based MISMO Reference Model. As a companion to the MCD specification, MISMO has published a schema file to assist with development efforts. This includes all the data points that are not in the MISMO Version 3.6.0 Reference Model, the schema has been extended to support the MCD. Use of the schema extension file will enable schema validation on the data terms in this specification.

Utilizing MISMO data terms and structures allows users to leverage the same data terms used in other agency reporting and data exchange across the mortgage industry and the mortgage lifecycle. This enhances data accuracy, creates processing efficiencies, and allows the file to be updated more easily as needed over time.

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.


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