MISMO gets commercialized
February 11, 2003
Commercial Mortgage Securities Assn., MBA aim to strengthen data standards efforts
Inman News Features
The Mortgage Bankers Association of America's data standards organization—the Mortgage Industry Standards Maintenance Organization (MISMO)—is now authorized to include the contents of the Commercial Mortgage Securities Association's investor reporting package into the MISMO data dictionary.
CMSA will retain both the ownership and the responsibility for revising and updating the investor reporting package, according to MBA.
MBA also reported that MISMO will establish an extensible markup language (XML)-based data transfer specification that will provide information consistent with CMSA's report. The MISMO commercial working group will also schedule releases of its XML lexicon to reflect changes to the investor report.
MISMO's commercial steering committee will be expanded by two seats, according to MBA. These new members will be appointed by CMSA and approved by the existing MISMO commercial leadership.
MBA Vice Chair Michael F. Petrie said the CMSA's participation is crucial to MISMO. "As it is in the best interest of the commercial mortgage industry to develop industry data standards as soon as possible, CMSA's contribution is good not only for MISMO, but for the entire industry," he said.
In addition, MBA and CMSA are working on an intellectual property agreement to finalize CMSA's contribution of the investor reporting package with regard to this effort.
Washington, D.C.-based MBA is a national association representing the real estate finance industry.
New York City-based Commercial Mortgage Securities Association is an international trade organization that aims to improve the liquidity of commercial real estate debt securities through capital markets access.
Copyright: Inman News Service