Commercial Data Sent Using MISMO Standards

Bridger Commercial Funding, San Francisco, has implemented the Mortgage Industry Standards Maintenance Organization's Commercial Servicing Transfer Standard with Midland Loan Services Inc.The companies said this shows the business practicality of using XML to accelerate information exchange between commercial lenders and servicers and validates MISMO's approach for using a rational XML-based transaction for data standardization of commercial and multifamily mortgages. "This proof of concept was needed before other industry players would seriously join the efforts around these standards," said Dave Bodi, executive vice president for Midland. The MISMO model will now be used as "the basic foundation for all new standard transactions," he said. Bridger can be found online at http://www.bridgerfunding.com, and MISMO can be found at http://www.mismo.org.