MISMO Version 3.3.1 Reference Model Released – NMP Skip to main content

MISMO Version 3.3.1 Reference Model Released

Mar 10, 2015

MISMO has announced the release of version 3.3.1 of the MISMO Residential Reference Model in Candidate Recommendation status and for a 30-day intellectual property rights (IPR) review. Candidate Recommendation means that Version 3.3.1 has been thoroughly reviewed by a wide range of organizations and industry participants and MISMO believes it is ready for the industry to use in implementations. The IPR review period is the final opportunity for entities to submit inquiries over intellectual property infringement within the standard.

“MISMO is taking important steps to assist industry participants by enhancing the predictability of releases and ensuring that the standard includes the necessary information to support industry implementations,” said Richard Hill, executive vice president of MISMO and vice president of industry technology at the Mortgage Bankers Association. “In fact the collaboration of industry participants working together to solve business issues is especially important given today’s ever changing regulatory environment.” 

Version 3.3.1 of the Standard includes new data points and structures to support regulatory requirements and additions in the areas of mortgage insurance coverage and conditions, title, payoff and property valuation. MISMO Reference Model Version 3.3.1 is backward compatible with Version 3.3. 

In addition to the logical data dictionary (LDD), XML Schema, and Release Notes, MISMO has provided additional resources for this release. These resources include schema comparison reports and MISMO Java bindings reference materials. Full details on model enhancements can be found in the Version 3.3.1 Release Notes and Version 3.3.1 of the MISMO Reference Model. In addition to the release of the Reference Model, MISMO announces the release of the MISMO CFPB Integrated Disclosures Loan Estimate Form Mapping and the Decision Model and Notation Rule Exchange White Paper for IPR review. 

The Loan Estimate Form Mapping provides a comprehensive mapping of CFPB’s Loan Estimate Form to Version 3.3 of the MISMO Reference Model.

The Decision Model and Notation Rule (DMN) Exchange Whitepaper discusses the use of the Objective Management Group’s DNM 1.0 specification may be used to promote the exchange of business rules in the mortgage industry. 

The Loan Estimate Form Mapping and the Decision Model and Notation Rule Exchange Whitepaper are subject to a 30-day IPR review which will be the same as the IPR period for Version 3.3.1 of the MISMO Reference Model.   The IPR Review period will be open from March 9, 2015 through April 7, 2015.  Any and all intellectual property rights disclosures should be submitted, as directed, on the MISMO IPR Disclosure Form.

Mar 10, 2015
More from
Why Short-Term Closing Fixes May Be Holding Lenders Back

2020 became a record year for eClosing and eNote adoption

Dec 01, 2021
Servion Taps Sagent For Consumer-First Servicing Tech Stack

A 7-year deal between Servion Mortgage and Sagent will equip Servion with Sagent's tech stack for performing, non-performing, and consumer experience.

Nov 29, 2021
OptiFunder Secures $25 Million In Capital

OptiFunder, a warehouse management system provider for mortgage originators, raised $25 million in additional capital lead by Arthur Ventures, a growth capital firm focused on high-growth, founder-led and capital efficient B2B software companies.

Nov 23, 2021
Guaranteed Rate Adds New Chief Product And Technology Officer

Guaranteed Rate named Dr. Ramesh Sarukkai as the company’s new chief product and technology officer.

Industry News
Nov 22, 2021
Fintech Mortgage Proven To Reduce Racial Bias In Lending

Technology-based Fintech mortgage may be the answer to reducing, and ultimately eliminating, racial bias and discrimination in lending.

Analysis and Data
Nov 19, 2021
nCino To Acquire SimpleNexus

Cloud banking and digital transformation solutions company, nCino Inc., signed a definitive agreement to acquire SimpleNexus in a stock and cash transaction valued at an estimated $1.2 billion.

Nov 19, 2021