MISMO Call for Participation in Industrywide Trended Credit Data Recommendation Effort

MISMO seeks interested parties to collaborate in identifying and recommending solutions for implementing the Trended Credit Data elements required by Fannie Mae.

A number of implementation challenges have been identified by industry participants. Those same participants have reached out to solicit support from the MISMO community to review the challenges noted and collaborate to identify the potential for standards based solutions.

Consider joining MISMO’s Trended Credit Data Development Workgroup to contribute towards a solution to address this pressing industry need. Collaborate with industry experts to develop recommendations that will allow the efficient exchange of data and information between Credit Reporting Agencies, Loan Origination System providers and the mortgage originations community; saving everyone time, money and effort.

MISMO Trended Credit Data DWG Deliverables:
–Create a whitepaper to document identified issues and corresponding recommended business solutions for exchanging Trended Credit Data information among CRAs, LOS providers and other participant in the mortgage origination community.
–Create other standards, documents or other materials deemed beneficial to industry participants.

The group will meet for three months with four one-hour conference calls per month, as well as in person at the MISMO Spring Summit June 6-10. The lifespan of this workgroup may be extended as necessary to meet industry needs.

If you would like to be a part of this effort, please sign up by sending an e-mail titled “JOIN MISMO’s TRENDED CREDIT DATA GROUP” to INFO@MISMO.org before Monday, February 8.

MISMO® is the voluntary standards development body for the mortgage industry. Voluntary use of MISMO standards reduces processing costs, increases transparency and boosts investor confidence in mortgages as an asset class, while creating cost savings for the consumer. For more information, visit www.mismo.org.