MISMO, the real estate finance industry’s standards organization, is seeking public comment on the Loan Boarding Data Segment.
The Loan Boarding Data Segment (LBDS) is the first published subset of the Industry Transfer of Servicing Dataset (ITSD). It is a comprehensive list of MISMO data points designed to assist the industry in establishing a baseline standard for boarding newly originated residential mortgage loans. The LBDS complements the recently published MISMO Servicing Transfer Catalog, which provides some best practices, templates, and resources for transferring a portfolio of residential loans from servicer to servicer.
Also, a servicer may use the LBDS to compare to their existing data exchange specifications to find gaps in data. Servicers should provide any identified data gaps to MISMO so that the dataset can be enhanced.
“The goal of providing the dataset is to enhance transparency and efficiency in data exchanges for all parties, borrowers, lenders, and servicers,” MISMO Acting President Rick Hill said. “This will reduce loan activation time and improve the borrower experience.”
The 60-day public comment period runs through May 19. All comments and disclosures are due May 19, 2025, and should be directed to info@mismo.org.
MISMO’s mission is to solve key business challenges. It is made possible by its members, champions, sponsors, and lender support through the Innovation Investment Fee.