MISMO Seeks Public Comment on Newest Version of the Mortgage Insurance Implementation Guide

WASHINGTON, Feb. 23 (TNSres) -- MISMO, a subsidiary of the Mortgage Bankers Association, issued the following news on Feb. 22, 2024:

MISMO, the real estate finance industry's standards organization, today announced it is seeking public comment on an updated version of the Mortgage Insurance (MI) v3.4 Implementation Guide (iGuide). The 30-day public comment period runs through April 4, 2024.

The MI v3.4 iGuide contains guidance for the data requirements necessary to facilitate the electronic ordering of MI rate quotes, MI commitments, contract underwrites, document packages and querying for MI order responses. This important resource maintains alignment with industry standards and other MISMO work products so that mortgage insurers, trading partners and technology providers have consistent and accurate guidance which enables improved communication and less costly integrations.

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 April 4, 2024, and should be directed to [email protected].

MISMO's work to solve key business challenges is made possible due to lender support of the MISMO Innovation Investment Fee. For information on MISMO and how to join visit MISMO.org.

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About MISMO

MISMO develops essential standards to enable the real estate finance industry's digital future. Through MISMO, all mortgage stakeholders have an opportunity to collaborate, innovate, and prosper by creating standards to improve efficiency, reduce costs, and enhance the overall mortgage experience. For more information on MISMO's work to help shape the future of the mortgage industry, visit www.mismo.org. For more information about the Innovation Investment Fee and how the industry benefits visit here (https://s3141176.t.en25.com/e/er?utm_campaign=MISMO%20Announces%202024%20Board%20of%20Directors&utm_medium=email&utm_source=Eloqua&s=3141176&lid=1136&elqTrackId=431BAB0A80A9FC1926404D07370A4E67&elq=bb3e330392ff4c579bb36c6c0b58419e&elqaid=8379&elqat=1&elqah=EF78224E6EA76264496CDB76E8143C4D457D728FFE3E454773E47EFEB5EF31C5).

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Original text here: https://www.mismo.org/about-MISMO/news/2024/02/22/mismo-seeks-public-comment-on-newest-version-of-the-mortgage-insurance-implementation-guide