MISMO Releases Updated Industry Loan Application Dataset

MISMO®, the mortgage industry standards organization, announced it updated the Industry Loan Application Dataset (iLAD), the modernized dataset for exchanging loan application data, to “Candidate Recommendation” status.

The update means the dataset has been thoroughly reviewed by a wide range of organizations and industry participants and is available for use.

“MISMO continues to deliver for the industry by digitizing processes and finding better ways to serve consumers,” said Mike Fratantoni, President of MISMO and Chief Economist and Senior Vice President of Research and Industry Technology with the Mortgage Bankers Association. “iLAD will allow for seamless exchanges of loan application data and will provide a better experience for all industry participants.”

The iLAD (v2.0.1) release incorporates recent updates to the drafted specification (v2.0) following a 30-day public comment period announced in March. MISMO incorporated changes to iLAD that had been previously made to its source files, which include the Uniform Residential Loan Application (URLA) dataset, Version 1.8; Desktop Underwriter AUS Request dataset, Version 1.8.1; and Loan Product Advisor AUS Request dataset, Version 5.0.06.

iLAD – first released for public comment in September 2019 – is a compendium of data points included in the URLA, which is the government-sponsored enterprises’ new Automated Underwriting System interfaces, and the existing Fannie Mae 3.2 file. iLAD is expected to replace many peer-to-peer data exchanges that currently use the Fannie Mae 3.2 file as a de facto data exchange standard.

The most recent update contains 15 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 issued the updated specifications to provide time for companies to evaluate how and when to adopt iLAD.  

Release and use of MISMO standards and other resources, including iLAD, are governed by the MISMO Intellectual Property Rights (IPR) 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 (MISMO) 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 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.