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Data Dictionary important step for commercial mortgage industry.

The commercial real estate finance industry took an important step toward greater market efficiency with the release of the Exposure Draft of the Originations Data Dictionary by the MISMO Commercial Working Group. The Exposure Draft of the Originations Data Dictionary is the result of a comprehensive effort to inventory all data elements used in originating commercial mortgages and define those elements to facilitate the efficient electronic exchange of information among industry participants in the immediate future. The document is intended as a "living text" whose creators now encourage the industry at large to respond with comments and suggestions. It is available online at www.mismo.org., www.mbaa.org/cref and at www.cmbs.org.

"The Exposure Draft of the Originations Data Dictionary is a giant step toward a more efficient market, benefiting borrowers, mortgage bankers and lenders, as well as other market participants. Our Working Group has undertaken much of the heavy lifting in getting this long and complicated process under way. Now we need industry input to reach the consensus necessary to establish a reliable industry standards," said Joseph B. Rubin of Ernst & Young, LLP, who chairs the MISMO Commercial Working Group.
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Publication:Real Estate Weekly
Article Type:Brief Article
Date:Feb 27, 2002
Words:194
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