The Mortgage Industry Standards Maintenance Organization (MISMO), the standards development body for the mortgage industry, urges industry professionals to join the Title and Closing Documents to Data Development Workgroup (DWG).
The group will work to develop the Title Order Dataset Specification, a standardized dataset for exchanging title order information between lenders, title providers and technology vendors. It also will review and validate proposed data elements, finalize the dataset specification, and develop effective strategies for implementation and use.
“Currently, lenders submit title orders through inconsistent channels, including structured and unstructured emails, faxes, and phone calls, which leads to data gaps and errors that delay order initiation,” MISMO President Brian Vieaux said. “The new dataset specification will enable accurate, consistent, and efficient title order placement and complete MISMO’s suite of title and closing dataset specifications, from pricing through fulfillment.”
Lenders, title agents, title underwriters and technology providers are invited to participate and ensure the new dataset reflects real-world needs and supports seamless adoption across the industry.
MISMO members who are interested in joining the group should join the Title and Closing Docs to Data DWG collaboration site via MISMO Connect. Nonmembers should email the organization.
Starting Dec. 3, virtual meetings will be held on the first and third Wednesday of every month.