MISMO Members Work Tirelessly

By Anthony Garittano

While they don’t get credit and they are all unpaid, MISMO members move the mortgage space forward.

As the mortgage industry cheers the move by both GSEs to standardize around MISMO Version 3.0, nobody is more proud then the members of MISMO that have dedicated their time, knowledge and talent to building the standards over the past 10 years for no pay or recognition of any sort. In the end though, their hard work will hopefully soon pay off big for the mortgage industry.

Specifically, the Federal Housing Finance Agency has called for a more transparent process by requiring the GSEs to work together to form one standard for accepting loan data. The GSEs have answered this call by standardizing around datasets developed by the Mortgage Industry Standards Maintenance Organization and mandating that loan data and appraisal data be delivered to them using MISMO Version 3.0, a move that technology experts say will broaden the required use of the standards and help return more liquidity to the mortgage market.

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