MISMO, the real estate finance industry’s standards organization, announced its new “Federal Government Housing Agency Servicing Dataset” has been published as part of its partnership with the Department of Veterans Affairs (VA) Loan Guaranty Service.
The organization noted the dataset is in “Candidate Recommendation” status, meaning it undergone thorough review by a wide range of organizations and industry participants and is available for use across the industry.
The VA partnered with MISMO and the financial technology company Sagent, which sponsored a working group orchestrated to support the agency’s broader modernization goals.
“The completion of the Federal Government Housing Agency Dataset demonstrates MISMO’s ability to bring together government and industry stakeholders to develop standards that support the housing industry and the consumers that MISMO serves,” Sagent Chief Compliance Officer Matt Tully said. “Sagent was proud to sponsor this workgroup and we look forward to the broad adoption of these standards across the servicing ecosystem.”
With a consistent, reliable framework for servicing data, servicers and federal government housing agencies will be able to:
- Respond faster when borrowers face financial hardship;
- Target resources where they matter most;
- Make policy decisions with real-time, trustworthy data;
- Validate policy effectiveness with confidence;
- Advance industry adoption of best practices;
- Align with industry standards; and,
- Improve the quality of data exchanged in a servicing transfer.