Industry News

MISMO breaks free, launches software compliance service

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The Mortgage Industry Standards Maintenance Organization (MISMO), which was created by the Mortgage Bankers Association, today announced it has become an independent corporation and has launched MX Compliance Service, a new compliance initiative designed to test and certify new software as MISMO compliant and/or compatible. The announcements were made at the association's 2004 National Technology in Mortgage Banking Conference & Expo in Phoenix. "The development of an independent-certification process is both timely and very, very important for the current users of MISMO-based solutions," said Regina M. Lowrie, MBA's vice chairwoman and chair of MBA's Board of Directors Technology Steering Committee. "This new service will protect the investment of current users by ensuring that any products they choose to purchase in the future will be MISMO compliant and/or compatible." The first phase of the compliance service will cover extensible markup language (XML) data compliance and w...