MISMO Seeks Public Comment on Mortgage Insurance Estimated Rate Quote API Implementation Guide & Sample File Revision

WASHINGTON, May 2 -- MISMO, a subsidiary of the Mortgage Bankers Association, issued the following news on May 1, 2024:

MISMO(R), the real estate finance industry's standards organization, today announced that it is seeking public comment on a revision to the previously published Mortgage Insurance (MI) Estimated Rate Quote API Implementation Guide (iGuide) & sample files (https://www.mismo.org/standards-resources/mismo-product/mortgage-insurance-estimated-rate-quote-api). The 30-day public comment period runs through May 31, 2024.

The MI Estimated Rate Quote API iGuide & sample files are based on the MISMO Version 3.5 Reference Model and designed to provide lenders with the MI Rate prior to submitting an MI Order. The JSON Estimated Rate Quote was created for trading partners who would like to utilize a more lightweight REST Based API transaction than the XML Estimated Rate Quote.

Changes to the MI Estimated Rate Quote API iGuide & samples files include removal of an object and corrections to two object references.

The public comment period allows those who participated in the proposal at least 30-days' notice prior to final release to review and disclose any applicable Patent Rights (as defined by MISMO's 2018 Intellectual Property Rights Policy).

MISMO requests that any organization that may have any patent or patent applications, or other intellectual property rights that might be infringed upon by an organization that uses or is compliant with these proposed MISMO products to disclose them at this time in writing. All comments and disclosures are due by May 31, 2024, and should be directed to info@mismo.org.

MISMO's work to solve key business challenges is made possible by its members, champions, sponsors, and lender support through the Innovation Investment Fee.

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Original text here: https://www.mismo.org/about-MISMO/news/2024/05/01/mismo-seeks-public-comment-on-mortgage-insurance-estimated-rate-quote-api-implementation-guide-sample-file-revision