The Mortgage Industry Standards Maintenance Organization (MISMO) has released Version 3.0 of its Reference Model (Candidate Recommendation) for the 30-day intellectual property review.
Version 3.0, which simplifies the ability to combine different types of data into the same electronic package, will give investors the ability to mine any data type in loan packages, streamline data management across all business transactions in the loan life cycle and simplify the application of electronic signatures.
‘The Version 3.0 Candidate Recommendation is the result of hard work and cross-collaboration among all participants in the mortgage industry," says Ron Duff, MISMO governance committee chair and senior vice president at Fiserv. "It is designed to help the industry meet the challenges of the constantly changing economic and financial landscape. We invite lenders and vendors across the board to download the model, review it and adapt it to their organizations as they see fit."
All publications for the Version 3.0 Candidate Recommendation are now available for download.