Loan Producer, a loan origination system from Dallas-based Financial Industry Computer Systems Inc. (FICS), has received MXCompliance Certification for Credit Request v2.3.1 and Credit Response v2.3.1 from the Mortgage Industry Standards Maintenance Organization Inc. (MISMO).
With this MISMO certification, FICS' customers benefit from the ability to interface directly with any credit vendors that are also MISMO compliant without having to perform any customization for each individual credit vendor.
Not only do MISMO standards promote consistency throughout the industry, but they also reduce costs, augment transparency and heighten investor confidence in mortgages as an asset class. According to FICS, adhering to MISMO standards will also improve the company's bottom line and bring economies of scale to its business by giving the company the ability to operate with a higher level of efficiency.