The Mortgage Industry Standards Maintenance Organization (MISMO), the voluntary standards development body for the mortgage industry, this week introduced version 3.3 of the MISMO Residential Reference Model for public comment.
The updated version includes new data points and structures related to a number of recent regulatory and reporting requirements, including the Consumer Financial Protection Bureau's Integrated Closing Disclosures, HOEPA High Cost Loans, GSEs Uniform Mortgage Servicing Dataset, FHA Automated Underwriting (TOTAL Scorecard) and Ginnie Mae's Pool Data Delivery dataset.
In addition, it introduces a new and improved Logical Data Dictionary format.
The public comment period will remain through Monday, Dec. 16. Comments should be emailed to firstname.lastname@example.org.
‘Version 3.3 of the MISMO Reference Model provides the mortgage finance industry with the standards needed in today's rapidly changing regulatory and compliance environment,’ says Mike Fratantoni, president of MISMO. ‘MISMO is grateful to the many contributors from across the mortgage finance industry who worked tirelessly to make Version 3.3 of the Reference Model a reality.Â Their dedication and expertise is invaluable.’