Closing Instructions Development Workgroup (DWG)
Join the Closing Instructions workgroup to collaborate and contribute to our work efforts!
What is the Closing Instructions Development Workgroup?
Industry-wide use of standards is critical for effective, efficient, and flexible business practices. Standards help mitigate risk, improve consumer understanding and satisfaction, and reduce costs.
MISMO has succeeded in creating a common terminology that is used for communications between lenders, service providers, regulators and others. One important focus area for us is Closing and Title Services.
Closing instruction standards are critical to improve communication between the lenders and closing agents and avoid closing delays.
Published work products available include:
A Master Closing Instructions template.
A Transactional Closing Instructions template.
Implementation guides for lenders, closing agents, and vendors on use of the templates.
A data exchange standard that permits the electronic exchange of closing instruction information.
Industry Need for Closing Instruction Standardization
Current Focus
- Work with industry participants to encourage adoption of the Closing Instruction templates, specification and Implementation Guide
How to Join
Anyone may participate in a MISMO development workgroup or community of practice regardless of membership status. Voting members of Information Management and Architecture Workgroup are elected as per governance procedures. Membership in MISMO is open to anyone - mortgage lenders, banks, credit unions, servicers, vendors, government agencies and more. MISMO members receive a voice, and vote, in creating and enhancing industry standards used by the entire industry. Learn more here.
Leadership
Ruth Dillingham, Dillingham LLC Consulting, Chair
Nancy Silverberg, Altus Escrow Inc, Vice-Chair
Facilitator
Kellie Stoll, MISMO
[email protected]
Meeting Schedule
Meets 2nd Tuesday of each month from 4-5pm EST.
Meeting URL: https://mba-org.zoom.us/j/82771127489