MISMO Publishes Enhanced Version of Industry Loan Application Dataset

MISMO, the real estate finance industry’s standards organization, published an enhanced version of the Industry Loan Application Dataset (iLAD), an industry standard for the exchange of loan application information. 

“The iLAD version 2.4.0 extends the capabilities and increases the effectiveness of the dataset, which serves as the industry’s standard method for exchanging data associated with originating and underwriting mortgage loans,” said David Coleman, President of MISMO.

The most recent version of iLAD includes GSE AUS changes (Freddie Mac Loan Product Advisor® v5.3.00 and Fannie Mae Desktop Underwriter® v1.8.4) along with other member-requested changes, including:

• Various added/removed AUS data points and enumerations.
• New datapoints to capture bankruptcy, foreclosure and military service details.

iLAD is a compendium of data points and allows for the seamless exchange of loan application data between industry partners. It reduces friction and improves efficiency, as originators can use this one resource rather than creating their own proprietary exchange.

MISMO’s work to solve key business challenges is made possible due to lender support of the MISMO Innovation Investment Fee. For information on MISMO and how to join visit MISMO.org.