MISMO Approves Taxpayer Consent Language as New Standard

Tara Dunion tdunion@mba.org

MISMO®, the mortgage industry standards organization, today announced that its successful Taxpayer Consent Language is approved as a new standard.

MISMO’s Taxpayer Consent Language was created to provide a consistent way for the mortgage industry to comply with the new requirements of the Taxpayer First Act that went into effect at the end of 2019. The law requires taxpayers to provide consent for the express purpose for which their tax information will be used. The MISMO consent language is widely used across the industry since it allows lenders to share tax information received from the Internal Revenue Service with other parties involved in a mortgage transaction.

“JPMorgan Chase has implemented the MISMO taxpayer consent language for its retail originations and reviews the loan files it purchases to ensure the MISMO language is included,” said Suzanne Fay Garwood, Assistant General Counsel with JPMorgan Chase. “The MISMO consent language has been successfully integrated into our mortgage origination process and we appreciate the leadership role MISMO took on this.”

The mortgage industry has leveraged this MISMO resource since its rollout this past November. The consent language was developed and is used by a range of organizations including lenders, government-sponsored entities, IRS form 4506-T fulfillment vendors, mortgage insurers and due diligence firms.

The MISMO Taxpayer Consent Language provides consent for both express purpose on the usage of the tax information as well as gaining express consent to share the tax information with third parties, a common practice in the mortgage industry.

Questions about the MISMO Taxpayer Consent Language should be sent to info@mismo.org.

For more information about MISMO, visit www.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.