MISMO Enhances Reference Tools to Increase Efficiency Among Industry Partners

WASHINGTON, D.C. (November 15, 2022) – MISMO®, the real estate finance industry's standards organization, today introduced enhancements to two industry resources designed to enhance interoperability among lenders and other mortgage organizations using consistent terms and language.

The MISMO Business Glossary is a comprehensive collection of terms and definitions representing content from MISMO and non-MISMO sources. The glossary includes information about common business processes, business events, business terms, calculations, documents, and forms. The recent updates include additional entries that will further assist users in finding related terms in the business process, new naming conventions, and additional updated terms and definitions.

The MISMO eMortgage Glossary is a reference tool for those interested in digital/eMortgage lending.  It includes terms and descriptions related to eMortgages and serves as a companion resource for the MISMO electronic guides. Updates include more than 20 new terms and definitions that have been created since the release of the last edition in 2020.

“Developing helpful resources like the Business Glossary and the eMortgage Glossary is part of MISMO’s ongoing mission to support effective communication among our partners,” said Seth Appleton, President of MISMO. “In an environment where every dollar counts, efficiency is essential, and we developed these tools to enhance the efficiency of business practices throughout the mortgage finance industry.”

Both resources enable industry professionals and others to use consistent language thus helping to reduce friction and increase interoperability.

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