Industry News

New milestones toward e-mortgages reached

MISMO announces guidance on implementation

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New milestones in the march toward electronic mortgage adoption, including guidance on implementation and an expanded certification program, have been reached, an industry standards organization said Thursday. "This year promises to be a breakthrough year for eMortgage adoption," said Chip Register, chair of the eMortgage Workgroup for MISMO, which stands for Mortgage Industry Standards Maintenance Organization. MISMO has established industry standards to help in making mortgages electronic. It is a not-for-profit subsidiary of the Mortgage Bankers Association. Its eMortgage Workgroup Thursday announced the release of four advancements toward its goal of broad-based eMortgage adoption. These accomplishments include eMortgage Guide 2.0, eMortgage Closing Guide 1.0, eMortgage Vaulting Guide 3.0 and eClosing Cost-Benefit Analysis White Paper and analysis template 1.0. The eMortgage Guide provides the highest-level overview of the business, legal and technical aspects of eMortgages, and ...