MISMO Seeks Comment on New Loan Boarding Data Standard

WASHINGTON, D.C. (March 20, 2025) – MISMO®, the real estate finance industry's standards organization, today announced that it is seeking public comment on the  Loan Boarding Data Segment, which is the first published subset of the Industry Transfer of Servicing Dataset (ITSD). The 60-day public comment period runs through May 19, 2025.

The Loan Boarding Data Segment (LBDS) of the ITSD is a comprehensive list of MISMO data points and enumerations designed to assist the industry in establishing a baseline standard for the boarding of newly originated residential mortgage loans. The LBDS complements the recently published MISMO Servicing Transfer Catalog, which provides best practices, templates, and resources for transferring a portfolio of residential loans from servicer to servicer.

“The goal of providing the dataset is to enhance transparency and efficiency in data exchanges for all parties, borrowers, lenders, and servicers,” said MISMO Acting President Rick Hill. “This will reduce loan activation time and improve the borrower experience.”

A servicer may also use the LBDS to compare to their existing data exchange specifications to find gaps in data they currently collect. Servicers should provide any identified data gaps to MISMO so that the dataset can be enhanced.

The public comment period allows 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 19, 2025, and should be directed to [email protected].