Industry News

Companies embrace electronic credit reporting

Three agencies now compliance-certified

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The first three companies from the credit-reporting sector have completed the compliance certification process with the Mortgage Industry Standards Maintenance Organization, known as MISMO, the subsidiary said today.   Bixby Consulting, Fair Isaac Corp. and Gallagher Financial Systems have completed the compliance certification process, according to MISMO, a not-for-profit subsidiary of the Mortgage Bankers Association. MISMO develops data transfer and file specifications for residential and commercial real estate transactions.   Currently, MISMO offers a variety of products and services to develop voluntary electronic commerce standards for the mortgage industry. MISMO coordinates the development and maintenance of Internet-based Extensible Markup Language (XML) real estate finance specifications and electronic mortgage guidelines.   The MISMO eXtensible Markup Language (XML) Compliance (MXCompliance) for credit reporting launched a few months ago, the group said. &#...