MISMO Issues Statement on the Federal Housing Finance Agency (FHFA) 2021 Scorecard on GSEs and Common Securitization Solutions (CSS)
WASHINGTON, D.C. (February 16, 2021) - Seth Appleton, President of MISMO®, today issued the following statement on FHFA's 2021 Scorecard for the GSEs and CSS:
"As the mortgage industry's standards organization, we applaud FHFA for highlighting MISMO's critical work to facilitate the development of standards for servicing transfers. Currently, servicing transfers require an immense investment of time and resources, and MISMO strongly believes that standards will reduce friction and allow for a smoother exchange of information.
"MISMO plays an essential role as the central point for collaboration among lenders, servicers, regulators, insuring and guaranteeing agencies, GSEs, and technology providers, enabling the industry to achieve a more seamless and productive digital future. "MISMO looks forward to continuing its work with the GSEs, CSS and other organizations from across the mortgage finance industry as it leads efforts to create a better digital mortgage experience for consumers and all parties involved in a real estate transaction."
For more information on MISMO, including its Servicing Transfers Development Work Group, please visit https://www.mismo.org/get-started/participate-in-a-mismo-workgroup/servicing-transfers-dwg