GINNIE MAE ANNOUNCES ADOPTION OF MISMO

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GINNIE MAE ANNOUNCES ADOPTION OF MISMO

GINNIE MAE ANNOUNCES ADOPTION OF MISMO

Ginnie Mae is pleased to announce that it has joined with Fannie Mae and Freddie Mac (GSEs) in adopting the Mortgage Industry Standards Maintenance Organization’s (“MISMO”) Uniform Loan Delivery Dataset (“ULDD”) for delivering loan information to the agencies. The GSEs have been working on this effort; and, announced to their respective program participants that effective September 1, 2011, and forward, all loans delivered to the GSEs will be required to be transmitted to the GSEs using the ULDD specifications.

The mortgage finance industry supports the adoption of standards and common file formats, as they lead to higher quality data, less rework, and lower costs for all participants in the industry, including borrowers.

Continue reading letter below…

GINNIE MAE MISMO

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