MISMO, the real estate finance industry's standards organization, is seeking public comment on its new dataset standard that supports U.S. Department of Veterans Affairs’ (VA) Form 26-1880 Request for a Certificate of Eligibility.
The 60-day public comment period ends on May 30.
Veterans who complete and send in VA Form 26-1880 are applying for a Certificate of Eligibility, MISMO said. VA lenders need this document as proof that a veteran is eligible for a VA guaranteed home loan, which is based on credit and income requirements.
MISMO said the new dataset for VA Form 26-1880 Request for a Certificate of Eligibility will provide lenders and vendors with a standard method for completing and exchanging the form. It also enables the mortgage industry to communicate in a consistent and efficient manner by using standardized MISMO data terms and extensions from the v3.5 MISMO Reference Model, it said.
The public comment period also allows those who participated on the proposal at least 60 days' notice prior to final release to review and disclose any applicable Patent Rights (as defined by MISMO's 2018 Intellectual Property Rights Policy).
MISMO requests that any non-participant organization that may have any 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. All comments and disclosures should be directed to [email protected].
MISMO Members can access the VA Form Datasets in the Resource Library housed on MISMO's Collaboration Site, MISMO Connect.
Non-MISMO members can access the VA Form Datasets here. For additional information, contact MISMO at [email protected].
