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MISMO Announces Public Review of Version 3.0 Reference Model: Comments Due June 15

April 30, 2009

MISMO has reached a key milestone in the development of Version 3.0 and is pleased to announce the wide-release of the Version 3.0 Reference Model for public review. The goal of Version 3.0 is to provide a cohesive foundation to support the creation of the widest array of transactions possible. Among other things, Version 3.0 creates a single "deal" structure to support loan data, simplifying the ability to combine different types of data in the same electronic package; simplifies the application of electronic signatures; gives investors the ability to mine any type of data about the package of loans they are purchasing; and allows for consistent data management across all business transactions in the loan lifecycle.

Version 3.0 is a major architectural shift for the MISMO organization. Over the last seven years, MISMO has been developing the Version 2.x suite of standards and has achieved a high level of success. The evolution of the industry and advances in electronic commerce pushed MISMO to engage in a very necessary shift - - not just from DTD to Schema, but to a stronger commitment to uniformity and commonly shared data constructs. Version 3.0 provides improved structure and support for extensibility for process areas, workgroups, and trading partners. It also has a more solid foundation in MEGs (MISMO Engineering Guidelines) to ensure that future development is consistent with the Version 3.0 architecture.

The deadline for comments on the Version 3.0 Reference Model is Monday, June 15, 2009, and your comments are encouraged, whether or not you are a regular MISMO participant. MISMO Workgroups will meet during the week of June 22nd to discuss comments and the public review period will end on June 29, 2009. To check out the Version 3.0 Reference Model, visit the MISMO Web site at

Background: MISMO was founded in 1999 to develop freely available XML (eXtensible Markup Language) data standards, eMortgage specifications, and related standards, continuing an earlier tradition of data standards in the EDI (Electronic Data Interchange) space. MISMO is committed to providing a forum for industry participants to assemble and work together on mutually understood and agreed-upon standards for data, data interchange, and electronic mortgages. By making the whole residential mortgage “eco-system” work more effectively, participating individuals and companies enjoy the ability to improve their own operations and profitability through better systems, integration, and connectivity among partners. For more information about MISMO, visit the MISMO Web site at

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