MISMO Seeks Public Comment on Consumer Home Equity SMART Doc Standardization Mapping and Updated iGuide

MISMO®, the real estate finance industry standards organization, seeks public comment on Version 2.1 of the SMART Doc® 1.02 Standardization Mapping and Implementation Guide. The 60-day public comment period runs through July 5.

The updated SMART Doc® 1.02 Standardization Mapping and Implementation Guide includes guidance for creating consumer home equity first lien eNotes as well as mapping for consumer home equity first liens based on the 3200 Standard Fixed Rate Note form. The enhancements provide guidance that can be used by mortgage service providers to increase interoperability and maintain data integrity when using eNotes for consumer home equity transactions.

This public comment period allows at least 60-days’ notice prior to final release to review and disclose any applicable Patent Rights (as defined by MISMO’s 2018 Intellectual Property Rights Policy.)

MISMO requests any organization that may have any patent or patent applications, or other intellectual property rights that might be infringed upon by an organization that uses or is compliant with these proposed MISMO products to disclose them at this time in writing. All comments and disclosures are due by July 5, 2023, and should be directed to info@mismo.org.

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