American Land Title Association
Print Friendly
Home  >  News Room
News Room

SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

MISMO Announces Major E-Commerce Milestone

March 13, 2002

Release of Version 2.1 Triples Data Coverage in Residential Mortgage Industry

Atlanta, GA (March 13, 2002) - The Mortgage Industry Standards Maintenance Organization (MISMO) announced today that it has reached a major milestone toward "paperless" electronic or Internet mortgage transactions with the first full release of a set of data structures that are similar in format, and contain common syntax and structures that range all the way from mortgage application through to the servicing process.

This release of the 2.1 Logical Data Dictionary and Document Type Definitions (DTD) effectively triple the size of the standard by including additional significant business areas such as Servicing for Servicing Transfer transactions and Appraisal for real-estate property information standardization. The 2.1 release also includes Credit Request and Response, Enveloping Request and Response, Mortgage Insurance Request Response and Title Request and Response.

"We are very pleased with the progress MISMO has made in a very short time, and are very thankful to our volunteer "work force" that made this release happen. The release of Version 2.1 is a testament to the commitment the real estate finance industry has to simplifying the electronic mortgage application process for consumers and lenders alike," said Gabe Minton, Senior Director of Industry Technology at MBA. "With both Fannie Mae and Freddie Mac agreeing to support Version 2.1, the industry can continue to move swiftly to make the Internet a viable option for all aspects of the mortgage process."

The Mortgage Bankers Association of America (MBA) established MISMO in January 2000 to develop, promote and maintain electronic Commerce standards for the commercial/multifamily and residential mortgage industries.

Currently there are over 80 subscriber organizations to MISMO and over 500 people participating. Subscriber organizations include Freddie Mac and Fannie Mae and a diverse group of real estate finance related businesses such as originators, multi-service, mortgage insurance, servicing, credit reporting, land title, secondary, mortgage brokers, hazard and flood insurance, as well as tax service.

Source: Mortgage Bankers Association

Print Friendly

How To Find Us:
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
Copyright © 2004-2016 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment