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MISMO Seeks Comment On iLAD 2.3.0

David Krechevsky
Mar 22, 2023

The Industry Loan Application Dataset is the standard for exchanging loan application information.

The Mortgage Industry Standards Maintenance Organization (MISMO), said this week it is seeking public comment on an update to the Industry Loan Application Dataset (iLAD), an industry standard for exchanging loan application information.

The real estate finance industry's standards organization said iLAD version 2.3.0 enhances the dataset by extending its capabilities and increasing its effectiveness. The dataset serves as the industry’s standard method for exchanging data associated with originating and underwriting mortgage loans. 

The most recent version of iLAD was updated to include GSE AUS changes (Fannie Mae Desktop Underwriter v1.8.3 & Freddie Mac Loan Product Advisor v5.2.00) along with other member requested changes:

  • Conditionality changes for data collected on the Supplemental Consumer Information Form (SCIF).
  • New datapoints for homeownership education and housing counseling.
  • Various added/removed AUS data points and enumerations.
  • Other modifications (Cardinality, Conditionality, Datapoint Format, Implementation Notes), and
  • Removal of the Flat File Mapping section.

The 30-day public comment period for this dataset runs through April 20.

The public comment period allows those who participated in the proposals at least 30 days’ notice prior to final release to review and disclose any applicable patent rights (as defined by MISMO's 2018 Intellectual Property Rights Policy). Disclosures and comments should be directed to [email protected]

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