MISMO HMDA Implementation Toolkit Available

MISMO announces release of its new HMDA Implementation Toolkit.

Designed to help companies implement the new Consumer Financial Protection Bureau Home Mortgage Disclosure Act rules, the Toolkit offers a comprehensive collection of guidance, mapping documents and other information about the rule and the use of MISMO in meeting rule requirements.

Key components of the Toolkit include:

–HMDA Implementation Guide: An overview of the new HMDA Loan Application Register requirements and how to leverage the value of the MISMO standard as it applies to HMDA LAR reporting and data exchange or submission.

–Appendix A–HMDA MISMO LAR Mapping: A detailed mapping from the Regulation C HMDA reporting requirements to Version 3.4 of the MISMO Reference Model.

–Appendix B: Reporting Scenario Examples: Provides a use case template and test data for a variety of reporting scenarios. 

–Appendix C: Reporting Scenario Example-Sample XML: Sample XML for the variety of reporting scenarios highlighted in Appendix B.

–Appendix D–Illustration of MISMO to LAR Derivation Logic: A field-by-field illustration of how to derive the revised HMDA LAR from Version 3.4 of the MISMO Reference Model including actual XPATHs; helpful tips, step savers and much more.

–Appendix E–MISMO HMDA Data Conditionality At-A-Glance: A quick view of HMDA data conditionality in chart form by HMDA and MISMO data points.

MISMO’s HMDA Implementation Toolkit is available as a member benefit to MISMO members and is available to all other industry participants for a small fee.

For more information or to access or purchase the Toolkit, visit www.mismo.org.