The Open Geospatial Consortium, Inc. and the Mortgage Industry Standards Maintenance Organization recently signed a memorandum of understanding. Under the terms of the MOU, the organizations will collaborate on standards development and outreach to enable and promote the use of Web based geospatial technologies in real property transaction applications.
The Mortgage Industry Standards Maintenance Organization, a not-for-profit subsidiary of the Mortgage Bankers Association managed by the Mortgage Electronic Registration Systems, Inc., is the leading technology standards development body for both the Residential and Commercial industry segments.
MISMO promotes data consistency throughout the broader industry, reduces processing costs, increases transparency, and boosts investor confidence in mortgages as an asset class, while passing cost savings on to the consumer.
For more information please visit www.opengeospatial.org