Washington, D.C. – (RealEstateRama) — MISMO®, the Mortgage Industry Standards Maintenance Organization has extended the public comment period for the proposed data standard for the exchange of rent roll information on commercial property. The public comment period has been extended through Wednesday, March 15th, 2017.
MISMO released the proposed data standard for the exchange of rent roll information on commercial property for public comment on Monday, December 12th, 2016. The public comment period was originally intended to end on Friday, January 13th but was extended upon request from multiple organizations. The proposed standard is designed to provide a consistent set of data points and definitions to use in financing and managing commercial property assets.
The original press release announcing the proposed standard may be found by clicking here. Full details on the Proposed Rent Roll Standard can be found on mismo.org. Any comments regarding proposed rent roll standard should be e-mailed to "> by Wednesday, March 15th, 2017.
Use of the MISMO standards is governed by the MISMO Intellectual Property Rights (IPR) Policy. For more information on the policy, please click here.
The Mortgage Industry Standards Maintenance Organization (MISMO) was created in 1999 to develop a common data language for the mortgage finance industry. Today, MISMO residential standards are accepted and deployed by every type of entity involved in creating mortgages, and they are required by most regulators, housing agencies and GSEs that govern the exchange of information. Use of MISMO’s standards has been found to lower per loan costs, improve margins, reduce errors and speed up the loan process by reducing manual, paper-based processes. For more information, visit www.mismo.org.
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