Specifications

Through industry cooperation and participation, MISMO develops, promotes and maintains voluntary electronic commerce specifications. Because of the strong level of input and support, MISMO creates necessary solutions that are being used successfully and implemented throughout the industry. These solutions include open and effective standardized e-commerce transactions, an eMortgage technology framework, Information Security guidelines and methodologies and related specifications.

MISMO data standards make e-commerce more profitable for the industry and open the door to groundbreaking innovations, such as electronic mortgages (eMortgages). MISMO activities cover four broad areas: residential standards, commercial standards, eMortgage specifications and information security guidelines.

Residential Standards: MISMO creates data standards that cover the entire mortgage life cycle, from origination, automated underwriting and service fulfillment through loan administration and investor reporting.

Commercial Standards: Commercial MISMO represents the most advanced and flexible way to transmit complex information on commercial and multifamily mortgages.

eMortgage Specifications: The eMortgage Workgroup provides a path for the industry’s evolution from paper-intensive to legally acceptable and truly paperless.

Information Security Guidelines: The Information Security Workgroup supports the information security concerns of other MISMO workgroups, provide industry security-related recommendations, and general security educational material.