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Related Standards

MISMO XML Standards Version 1.1

Newest Version of Mortgage Transaction Standards Issued

Washington, DC, USA. March 19, 2001.

New standards that will allow real estate finance companies to more easily share data over the Internet were released today by a coalition of mortgage industry groups led by the Mortgage Bankers Association of America (MBA).

The Mortgage Industry Standards Maintenance Organization (MISMO) released version 1.1 of its XML (Extensible Mark-up Language) Data Standards, which cover secondary pooling and delivery transactions and credit, underwriting, mortgage insurance application, and real estate service request processes. MISMO, which was formed in January 2000 to address electronic commerce issues in the mortgage industry, is comprised of MBA members, technology companies, and key industry players, such as Freddie Mac and Fannie Mae.

The standards are available on the MISMO Web site located at Online data dictionaries supporting version 1.1, as well as the previously released versions, also are available on the site. "This newest version of the XML standards represents the next step in the industry's efforts to simplify and unify the data exchange process," says Gabe Minton, senior director of industry technology for MBA. "The mortgage industry continues to set the pace throughout the business world for standardization of electronic data interchange."

In July of last year, MISMO released version 1.0 of its XML Standards, and a year ago released a draft version of its dictionary of common data, which focused on elements relevant to the mortgage origination and underwriting processes. The organization uses a centralized Web-based repository to provide a single location for managing data elements and generating XML document definitions.

MISMO is continuing the process of collecting, normalizing, and defining all of the data elements necessary for effectively conducting business in the various real estate finance process areas and will issue additional standards in the coming months. The data dictionaries and document-type definition files for several process areas, including servicing-servicing transfer, mortgage application, flood, title, and real estate appraisal, are in draft status and are expected to be released on the Web site soon.

While the 1.1 version of the MISMO XML standards released today focuses on transactions for single-family residential homes, a related MISMO standard related to commercial/multifamily business is expected to be released in June.

For more information on how to get involved with or become a subscriber to the standards process, call (703) 518-4161 or e-mail

About MBA

MBA is the national association representing the real estate finance industry. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation's residential and commercial real estate markets; to expand homeownership prospects through increased affordability; and to extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters excellence and technical know-how among real estate finance professionals through a wide range of educational programs and technical publications. Its membership of approximately 2,800 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, life insurance companies and others in the mortgage lending field. For additional information, visit MBA's Web site:

Additional information

Tel: (703) 548-7005
Fax: (703) 548-5738

Prepared by Robin Cover for The XML Cover Pages archive. See "Mortgage Bankers Association of America MISMO Standard."

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