The Mortgage Industry Standards Maintenance Organization, or MISMO for short, has released the first eMortgage Guide for the mortgage industry. The guide aims to educate the industry about eMortgage business, as well as high-level technical aspects of eMortgages and their benefits.

MISMO is a nonprofit subsidiary of the Mortgage Bankers Association.

“This guide is intended to be an executive-level guide addressing all aspects of eMortgage implementations — key concepts, benefits and ROI, legal background and industry best practices for the various steps of an eMortgage implementation,” said Igor Derensteyn, vice chair of the eMortgage Workgroup and senior vice president of eMortgage Technologies at Countrywide. “Many of the workgroup members who created this guide are experts and have generously contributed their knowledge to this release.”

The guide provides an overview of the eMortgage landscape as it exists today, including: the benefits of eMortgages, key industry standards and concepts, underlying legal framework and concepts, general guidance for best practices, and sources of additional information to get started.

The mortgage industry is slowly but steadily moving forward on eMortgage development and implementation because the resulting paperless processes promise significant time and money savings for businesses and consumers.

MBA’s board of directors recently endorsed the industry’s adoption of residential and commercial eMortgages. MISMO standards are critical to achieving eMortgage adoption across the industry. During the transition from paper to eMortgages, both individual loans and loan pools may be hybrid, using combinations of paper, imaging, and electronic documents. The new guide provides a reference tool to help you move forward toward a standardized eMortgage environment.

The guide was developed by MISMO’s eMortgage Workgroup, established in January 2001 to develop standards, specifications and guidelines toward fully electronic mortgages that correspond to the Electronic Signatures in Global and National Commerce Act (E-SIGN) and the Uniform Electronic Transactions Act (UETA) legislation enacted by the U.S. government in 1999 and 2000.

MISMO aims to develop, promote and maintain through an open process voluntary electronic commerce standards and best practices for the commercial and residential mortgage industries.


Send tips or a Letter to the Editor to or call (510) 658-9252, ext. 133.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription