MISMO Proposes Updates to Industry Loan Application Dataset

MISMO®, the mortgage industry standards organization, today released proposed updates to the Industry Loan Application Dataset, its modernized dataset for the exchange of loan application data.

The updates incorporate recent feedback from industry participants and are available for a 30-day public comment period, beginning Mar. 11.

“iLAD gives industry partners the ability to seamlessly exchange loan application data and is another way MISMO is delivering for the industry by digitizing processes, driving down costs and finding better ways to serve consumers,” said Rick Hill, Executive Vice President of MISMO and MBA Vice President of Technology. “The input provided during the previous 60-day comment period were instrumental in creating this new and improved version. We encourage participants to review the updates and provide us with any feedback.”

iLAD – first released in September 2019 – is a compendium of data points included in the new Uniform Residential Loan Application (URLA), the Government-Sponsored Enterprises’ new Automated Underwriting System interfaces, and the existing Fannie Mae 3.2 file. iLAD is expected to replace the many peer-to-peer data exchanges that currently utilize the Fannie Mae 3.2 file as a de facto data exchange standard.

The updated iLAD has incorporated changes that had been previously made to its source files, including the Uniform Residential Loan Application dataset, Version 1.8; Desktop Underwriter AUS Request dataset, Version 1.8; and Loan Product Advisor AUS Request dataset, Version 5.0.06. iLAD is being released for a 30-day comment period and will remain open until April 10.

This update contains 400 changes to the iLAD specification, which have been documented in the “Revision History” section of the specification. Adoption of iLAD is expected to be evolutionary, as businesses collaborate with business partners to determine the best time to implement. MISMO is issuing the updated specifications to provide time for companies to evaluate how and when to adopt iLAD.  

The comment period is intended to afford workgroup participants who participated on the proposed iLAD at least 30 days’ notice prior to final release, in order to review the exchange and disclose any applicable Patent Rights (as defined by MISMO’s 2018 Intellectual Property Rights Policy). Disclosures and comments should also be directed to info@mismo.org. At this time, MISMO also requests that organizations disclose in writing any patents and patent applications that might be infringed by an organization that uses or is compliant with iLAD.   

Release and use of MISMO standards and other resources, including iLAD, are governed by the MISMO Intellectual Property Rights Policy. For more information on the policy, click here.

Industry participants who have comments or questions about iLAD can contact MISMO at info@mismo.org.


The Mortgage Industry Standards Maintenance Organization is the standards development organization for the residential and commercial finance industry. Today, MISMO standards are accepted and deployed by every type of entity involved in creating mortgages, and they are required by most regulators, housing agencies and GSEs that govern the exchange of information. Use of MISMO’s standards has been found to lower per loan costs, improve margins, reduce errors and speed up the loan process by reducing manual, paper-based processes. MISMO is managed by the Mortgage Bankers Association. For more information, visit www.mismo.org.