MISMO Issues Statement on the FHA Catalyst Single Family Origination Module
WASHINGTON, D.C. (Janauary 19, 2021) - Seth Appleton, President of MISMO®, today issued the following statement in support of the FHA Catalyst Single Family Origination Module:
"MISMO applauds the work of FHA Catalyst and its rollout of an application programming interface (API) to FHA's automated underwriting system (AUS). This development allows lenders to submit loan application data directly from loan origination systems, with instant feedback. It also supports file formats that use the MISMO 3.4 dataset, an industry standard of information, including data and documentation, needed to support mortgage industry business processes and transactions. These enhancements provide a more seamless process for lenders to determine mortgage insurance eligibility directly from FHA for single family mortgages. MISMO looks forward to continuing to work with FHA to accelerate the industry's digital future."
For more information about MISMO, visit www.mismo.org.