MISMO Releases the Consumer Home Equity SMART Doc® Standardized Mapping and Updated Implementation Guide
August 24, 2023
WASHINGTON, D.C. (August 24, 2023) — MISMO®, the real estate finance industry's standards organization, today announced that it is publishing Version 2.1 of the SMART Doc® 1.02 Standard Mapping and Implementation Guide as final.
“The new version of the SMART Doc® 1.02 Standardization Mapping and Implementation Guide will provide helpful guidance to mortgage service providers who are looking to streamline the creation of home equity first lien eNotes,” said David Coleman, President, MISMO. “MISMO remains committed to addressing the industry’s top issues by offering additional resources that further protect and maintain data standards.”
The updated SMART Doc® 1.02 Standardization Mapping and Implementation Guide includes guidance for creating consumer home equity first lien eNotes as well as mapping for consumer home equity first liens based on the 3200 Standard Fixed Rate Note form. The enhancements provide guidance that can be used by mortgage service providers to increase interoperability and maintain data integrity when using eNotes for consumer home equity transactions.