While relatively new to the mortgage industry, Interest in application programming interfaces and microservices is soaring. These system-to-system technologies have the potential to tremendously enhance communications between lenders, technology vendors and service providers, much better than the traditional, large-scale integrations to exchange data between monolithic systems that are in use today.
IRS Issues Clarification on Taxpayer Consent, Disclosure Requirements
The Internal Revenue Service yesterday posted a clarification on the effective date of new taxpayer consent and disclosure requirements needed to obtain and share IRS tax transcript information with investors, servicers and due diligence firms.
MISMO Updates eMortgage Closing Guide and eMortgage Glossary
MISMO®, the mortgage industry standards organization, is seeking feedback on recent updates MISMO has made to its eMortgage Closing Guide and related eMortgage Glossary.
MISMO To Update Appraisal Data Standards
MISMO, the mortgage industry standards organization, invites the mortgage industry to participate in an effort to enhance its residential appraisal data standards. This effort will evaluate new types of property information that may be useful to the industry.
MISMO To Address Inconsistencies in Electronic Mortgage Documents
MISMO, the mortgage industry standards organization, seeks industry participation in an effort to reduce friction due to the use of non-standard electronic documents (eDocs).
MISMO Releases Closing Instructions Templates for Public Comment
MISMO®, the mortgage industry standards organization, released its new closing instructions templates for public comment.
MISMO Seeks Public Comment on New Logical Data Model
MISMO®, the mortgage industry standards organization, announced release of an update to the MISMO Logical Data Model for a 30-day public comment period.
MISMO Releases Additional Background Info, FAQ’s on Taxpayer Consent Language for Sharing Tax Transcripts
Last week, MISMO®, the mortgage industry standards organization, released its Taxpayer Consent Language, which was created to provide a consistent way for the mortgage industry to comply with the Taxpayer First Act.
MBA Advocacy Update
Last Friday, MBA President and CEO Bob Broeksmit, CMB, attended a White House meeting chaired by HUD Secretary Ben Carson and attended by other senior administration officials and key industry stakeholders to discuss housing affordability. And on Monday, the Federal Housing Finance Agency announced it is seeking comment on pooling practices for Fannie Mae and Freddie Mac in the Uniform Mortgage-Backed Securities market.
MISMO Issues Taxpayer Consent Language as Solution for New IRS Requirement on Sharing Tax Transcripts
MISMO, the mortgage industry standards organization, issued its Taxpayer Consent Language, which permits lenders to share tax information received from the Internal Revenue Service with other parties involved in a mortgage transaction.