Skip to main content

MISMO Rolls Out iLAD

Sep 04, 2019
Photo credit: Getty Images/kanawatvector

MISMO has released the Industry Loan Application Dataset (iLAD), a compendium of data points included in the new Uniform Residential Loan Application (URLA), the government-sponsored enterprises’ (GSEs) new Automated Underwriting System (AUS) interfaces, and in the existing Fannie Mae 3.2 file.
 
MISMO has released the Industry Loan Application Dataset (iLAD)iLAD, which uses MISMO’s v3.4 Reference Model, is designed to replace many of the peer-to-peer data exchanges that utilized the Fannie Mae 3.2 file, which will not be updated for changes to the URLA. The iLAD is being released for a 60-day comment period for MISMO members, with the comment period concluding on Nov. 3.
 
“It’s imperative that we have a standard process to allow the seamless exchange of loan application data between all industry partners,” said Rick Hill, executive vice president of MISMO and MBA Vice President of Technology. “Standardized data exchanges developed in a consensus manner are a prerequisite for the industry for it to continue to successfully digitize its processes, find new ways to serve consumers, and drive down costs.”


 
About the author
Published
Sep 04, 2019
More from
Tech
NAR Partners With SoFi

NAR members and their clients can receive exclusive rates and discounts on mortgages, student loan refinancing and personal loans.

Apr 09, 2024
Floify President and GM Advising Broker Action Coalition

Sofia Rossato appointed as a vendor advisor to new non-profit

Apr 03, 2024
When, Where, And How To Incorporate AI Into Your Mortgage Business

The impacts and future implications of artificial intelligence and generative AI

Mar 28, 2024
Navigating The Future Of Marketing Technology

Take inspiration from these tomorrow-oriented improvements and see how they could be adapted

Mar 18, 2024
Women Of Tech 2024

Honoring Women Of Mortgage Technology

Mar 18, 2024
Manually Scrubbing For HMDA Compliance? It’s Time To Automate

Investing in digital transformation systems provides a significant advantage over “wait-and-see” institutions

Feb 26, 2024