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MISMO Issues iLAD 2.1.0 For Public Comment

MISMO, the real estate finance industry’s standards organization, released the updated Industry Loan Application Dataset (iLAD) for a 30-day public comment period. iLAD is a compendium of data points that are included in the Uniform Residential Loan Application (URLA), the Government Sponsored Enterprises’ (GSEs) Automated Underwriting System (AUS) interfaces, as well as the retired Fannie Mae 3.2 flat file. The 30-day public comment period for this dataset runs through April 29, 2022. 

iLAD, which uses MISMO’s v3.4 Reference Model, was created to address the mortgage industry’s need to exchange information included in the new URLA. iLAD continues to evolve and serves as the industry’s standard method for exchanging data associated with originating and underwriting mortgage loans.

The new version 2.1.0 of iLAD incorporates recent updates to the Fannie Mae Desktop Underwriter® AUS Request and the Freddie Mac Loan Product Advisor® AUS Request. iLAD 2.1.0 also includes assorted new data points and enumeration changes to better support industry vendors and processes.    

The comment period is intended to afford workgroup participants who worked on the proposed iLAD 2.1.0 at least 30 days’ notice prior to final release to provide feedback and disclose any applicable Patent Rights (as defined by MISMO’s 2018 Intellectual Property Rights Policy).

Disclosures and comments should be directed to [email protected]. MISMO also requests that organizations disclose in writing any patents and patent applications that might be infringed by an organization that uses or is compliant with iLAD.