Release Notes

MISMO Life of Loan Narrative

New or revised Narratives to support the publication of MISMO Products and MISMO-Based Products

1. Order MI Rate Quote
2. Order Credit Report (Assess Credit Risk)
3. Request Tax Transcript (replaces ‘Generate 4506-T’)
4. Request VA Certificate of Eligibility (COE) (replaces ‘Determine VA Eligibility’)
5. Deliver Loan to Purchaser or Guarantor (replaces ‘Deliver Loan to Investor’)
6. Process Electronic Loan Modification
7. Administer Fees (replaces ‘Select Product Pricing and Fees’)

New (Work in Progress) for new DWGs or Work Requests in process

1. Determine Loan Limit
2. Activate MI

Wordsmithing, updated links, and other maintenance items, including:

1. Updated Overview for processes and Business Glossary hashtags
2. Changed ‘Validate UCD’ to ‘Generate and Submit Closing Disclosure Data’
3. Updated due to revised URLA and to direct the reader to GSE/Agency websites for specifics
   • Exchange Loan Application Data
   • Obtain AUS Recommendation
   • Perform GSE Presale Quality Check
4. Updated links for eMortgage Specifications and/or Digital Mortgage Resource Center on MISMO website:

• Create and Register eNote
• Perform eClosing
• Perform Remote Online Notarization
• Deliver Loan to Purchaser or Guarantor
• Perform eRecording

Deleted Work in Progress items due to cancelled Work Request

1. Review Closing Protection Letter
2. Order Fraud Test

MISMO Life of Loan Process Model

New or Updated Processes

1. MI Activation API
   • Added 'Activate MI' as a WIP for the MI Activation API
2. eModification Reference Guide
   • Expand "Process Loan Modification" to include "Process Electronic Loan Modification" (green, with new Narrative) and "Process Paper Loan Modification". Remove yellow WIP from "Process Loan Modification"
3. Fee Naming DWG Charter Update
   • Pending publication of Fee Collaboration Matrix. Add 'Administer Fees’
4. MI Rate Quote API
   • Change process name from 'Order Estimated MI Rate Quote' to genericize and not be prescriptive.
5. Request Tax Transcript
   • New process to support the MISMO mapping to 4506-C.
6. Request VA Certificate of Eligibility (COE)
   • Change 'Determine VA Eligibility' to 'Request VA Certificate of Eligibility (COE)’
7. Deliver Loan to Purchaser or Guarantor
   • Change 'Deliver Loan to Investor' to 'Deliver Loan to Purchaser or Guarantor' to accommodate the publication of GNMA Pool Delivery Dataset (PDD) as a MISMO-Based Product
8. Process Electronic Loan Modification
   • Expand "Process Loan Modification" to include "Process Electronic Loan Modification" (green) and "Process Paper Loan Modification". Remove yellow WIP from "Process Loan Modification"

Business Glossary Updates

New Terms

1. Determine Loan Limits
2. Request Tax Transcript
3. Request VA Certificate of Eligibility (COE)
4. Activate MI
5. Process Electronic Loan Modification
6. Process Paper Loan Modification
7. Administer Fees
8. Generate and Submit Closing Disclosure Data

Revised Term

1. Register Loan With MERS

Revised Term and Definition

1. Deliver Loan to Purchaser or Guarantor (formerly Deliver Loan to Investor)

Deprecated Terms

1. Determine VA Eligibility
2. Generate 4506-T
3. Key Additional Data in Doc Prep Provider System
4. Validate UCD
5. Loan Closed
6. Mortgage Originations