MISMO Seeks Public Comment On Enhanced Version Of Industry Loan Application Dataset

MISMO is seeking public comment on an enhancement to the Industry Loan Application Dataset (iLAD), an industry standard for the exchange of loan application information. The 30-day public comment period runs through April 3, 2025.

“iLAD is recognized as the industry standard for exchanging data related to the origination and underwriting of mortgage loans,” said MISMO Acting President Rick Hill. “Version 2.5.0 enhances the capabilities and improves the dataset’s effectiveness.”

The new iLAD version 2.5.0 includes updates for a series of Fannie Mae and Freddie Mac Automated Underwriting System (AUS) changes (Freddie Mac Loan Product Advisor® v5.4.00, Fannie Mae Desktop Underwriter® v1.8.5 & v1.9.0 AUS specifications) along with other industry requested changes.

Updates to the new version include:

  *   Added/updated Loan Product Advisor, Desktop Underwriter (DU), and iLAD data points and enumerations;
  *   Added relationships for DU and iLAD; and
  *   Removed U.S. Department of Agriculture (USDA) Government Underwriting System (GUS) unique ID fields

The public comment period allows at least 30 days’ notice prior to final release to review 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].