MISMO, the real estate finance industry's standards organization, published a new dataset for the U.S. Department of Housing and Urban Development (HUD) Addendum to the Uniform Residential Loan Application (URLA). The new dataset is meant to benefit Federal Home Administration (FHA) loan originators, according to a MISMO press release.
Originators are required to complete the URLA addendum (also known as Form HUD-92900-A) and obtain signatures by both the borrower and the direct endorsement underwriter during the initial and final stages of the loan application process.
“This new dataset aligns with the MISMO Reference Model and demonstrates how industry collaboration can extend standardized data structures to support FHA-specific requirements,” MISMO President Brian Vieaux said in the release. “By leveraging the existing MISMO framework, we are enabling more seamless implementation and greater interoperability across systems.”
MISMO’s dataset establishes a standardized method to electronically express and transmit the loan-specific information required on the HUD Addendum, supporting greater data accuracy, operational efficiency and interoperability across systems, according to the release. The standard has reached ‘Candidate Recommendation’ status, indicating the standard has been thoroughly reviewed by a wide range of organizations and industry participants and is available for use across the industry.
When creating the standard, the Originators Community of Practice structured it to support disclosure and reporting requirements related to authorized agent and sponsor/sponsored third-party originator (TPO) relationships, including identification of agents and TPOs where applicable. By providing a consistent data framework for these elements, the dataset helps lenders, technology providers and investors streamline FHA loan origination workflows and enhance compliance confidence, according to the release.