MISMO Cites Bundling, E-Mortgage Initiatives

The Mortgage Industry Standards Maintenance Organization has announced plans to develop a multiservice response that would make it easier to bundle existing standards in one transaction and separate plans to release a way to test e-mortgage standards.Both initiatives are expected to be delivered to market by MISMO by the end of the year, according to Gabe Minton, vice president of industry technology at the Mortgage Bankers Association, MISMO's parent organization. Under the MultiService Request/Response delivery, the user would be able to seamlessly integrate the MISMO standards without having to cross-check for every sector of the process. A more basic compliance tool to test the actual datasets is expected at the MBA Tech Show this March, with the more complicated e-mortgage compliance tool to come by the end of the year, Mr. Minton told the Fourth Annual NHEMA E-Commerce Roundtable in Costa Mesa, Calif. NHEMA -- the National Home Equity Mortgage Association -- can be found online at http://www.nhema.org.