MISMO

MISMO, the real estate finance industry’s standards organization, announced the publication of Version 3.6.2 of the MISMO Reference Model, which includes new data points, containers, and enumerations to support MISMO work products and other mortgage industry business content.

MISMO® announced the publication of updates to its Consumer-Facing Charge and Fee Naming Guide.

MISMO®, the real estate finance industry’s standards organization, has published the  SMART Doc® V3 eHELOC Specification. This standard was developed to meet requests for natively created electronic documents to support the growth of home equity lines of credit (HELOCs). The use of the MISMO SMART Doc provides assurance that loan documents and associated data are consistent, reliable, and unaltered.

MISMO has issued a call for industry professionals to join the Commercial eNotes Development Workgroup (DWG), an effort to develop a glossary of common terms that will be used in the generation of commercial, home equity line of credit, agriculture, and multi-family digital mortgages.

MISMO has added more than 40 new standardized fee names and definitions to its Fee Naming Guide. The additions to the Guide are intended to further standardize the use of names and descriptions for fees used across the mortgage industry, enabling better communication across all parties.

MISMO launched a new standard that works to restore trust in security instrument data and reduces the financial burden of onerous verification requirements.

MISMO published a new Appraisal Procurement Dataset Specification designed to facilitate and standardize the ordering of property services including appraisals.

MISMO published enhancements to the MISMO Version 3.6 Reference Model and the new MISMO Version 3.6.1 Reference Model has reached “Candidate Recommendation” status, which means that they have been thoroughly reviewed by a wide range of organizations and industry participants and are available for industry use.

MISMO has launched Unique IDs that can be leveraged to streamline impact analysis and to accelerate implementation efforts.

MISMO is seeking public comment on the SMART Doc® V3 Security Instrument Specification. The 60-day public comment period will run through May 24, 2025.