A new Mortgage Industry Standards Maintenance Organization workgroup intends to create a universal loan document identification protocol that would be based on loan-specific data and enable any entity across the lending process to use a common formula to create or recreate the unique identifier.

According to the mortgage industry’s nonprofit data standards group, there is currently no known universal standard for identifying particular loan documents that go with a specific loan. While lenders have their own individual methods of identifying loans, those practices lead to the same documents being catalogued differently when mortgages change hands.

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