The Mortgage Industry Standards Maintenance Organization is releasing new version of its MISMO Residential Reference Model for public comment.
Version 3.3.1 of the Standard includes new data points and structures to support regulatory requirements and additions in the areas of mortgage insurance coverage and conditions, title, payoff and property valuation, MISMO said.
MISMO is making the new version available for public comment for the next 30 days, through Dec. 15.
MISMO said that the public comment period offers industry the opportunity to preview the release for consistency and provide feedback to MISMO regarding potential errors, omissions, or infringement of intellectual property rights.
“Version 3.3.1 of the MISMO Reference Model and Logical Data Dictionary are the direct result of MISMO contributors from across the industry collaborating to solve business problems and develop the standards needed to meet industry needs in today’s rapidly changing regulatory and compliance environment,” said Mike Fratantoni, President of MISMO.
“MISMO is grateful to the many dedicated contributors from across the mortgage finance industry who worked hard to make Version 3.3.1 of the Reference Model possible. Their dedication and expertise is invaluable.”