MISMO Communications Subcommittee Seeks Feedback

Tim Anderson, chair of the MISMO Communications Subcommittee and director of services with DocMagic, Torrance, Calif., issued the following message to MISMO members:  

As Chair of MISMO’s Residential Standards Governance Committee’s Subcommittee on Communications, one of our main goals is to create awareness on the business value and benefit of MISMO to the industry. There is a lot of good work we are doing at the subcommittee level but if we cannot get the word out, share and make it relevant to the business side to adopt it all goes for naught.   

To that end I am reaching out to the greater body to seek feedback, articles, blogs, etc on subjects that you think MISMO can solve from a business perspective. I am looking for contributors to write simple value props or even just provide some bullet points and I can write it up.  

Topics high on the list include:  

–Importance of MISMO 3.3 for TRID compliance. Reason and future benefit of why there is a MISMO 3.3 dataset requirement (machine readable format)

—-Importance and business benefit and value of UCD

—-Importance of new HMDA reporting format

–Business impact/value/need for Fee Terminology workgroup and why it is important

–Value of documenting full electronic process, (electronic evidence) and reasons investors are going to want this as well to protect them against future audits, borrower contesting

–Value of eClosing (in light of supporting TRID compliance, process) and investor delivery for warehouse lenders and eWarehouse process    

If you want to pick one of the subjects or add your own please let me know. Primary concern is to get to writing these up and hopefully keep it ideally to a summary page or two-page overview.  MBA/MISMO has created a template in which it can be embedded.  

For more information contact Anderson at tim@docmagic.com or Kelly Bradshaw of MISMO at kbradshaw@mba.org.