Lock in the MISMO Advantage: Standardizing Data Increases Business Opportunities
Most mortgage originators use a combination of tools, including loan origination systems (LOS), document software, loan-application portals, and others, to automate the mortgage process. Loan data must flow easily between these systems in a secure manner that protects data integrity. All too often, however, vendors build proprietary data tools that make it difficult for multiple systems to work together seamlessly. By adopting industrywide data standards, however, vendors make it possible for the mortgage originator’s LOS and technology partners to interface without a hitch. There are several advantages to using a data standard like the Mortgage Industry Standards Maintenance Organization (MISMO).
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