Real estate finance industry standards organization MISMO is soliciting public comment regarding its new white paper offering blockchain analysis.
Blockchain in the Mortgage Industry outlines findings regarding how blockchain technology could improve how mortgages are originated, serviced, sold, and traded via bolstered efficiency, enabled transparency, and increased trust among market participants.
The 60-day comment and disclosure period runs through May 30, 2023.
While exploring the use of blockchain technology and identifying how blockchain can be used within the mortgage industry, MISMO indicated the white paper addressed the areas of potential efficiencies, practical industry applications and use cases, and keys to increasing adoption.
MISMO is requesting any organization with patent or patent applications or other intellectual property rights that might be infringed upon by an organization that uses or is compliant with these proposed MISMO products to disclose them in writing.
According to MISMO, a subsidiary of the Mortgage Bankers Association (MBA), the organization’s standards are accepted and deployed by every type of entity involved in creating mortgages and are required by most regulators, housing agencies, and Government Sponsored Enterprises (GSEs) that participate in the industry.