Mike Fratantoni, President of MISMO® and Chief Economist and Senior Vice President of Research and Industry Technology at the Mortgage Bankers Association, today issued the following statement in support of Ginnie Mae and Federal Home Loan Banks of Dallas and Des Moines implementation of Digital Loan Files and eNotes:

MISMO commends and supports recent moves by Ginnie Mae and the Federal Home Loan Banks of Dallas and Des Moines to begin accepting residential mortgage electronic promissory notes – eNotes – as collateral. These eNote implementations are based on the MISMO SMART Doc® specification that is deployed across the mortgage industry. These developments help advance digital mortgage adoption as most lenders will be able to use eNotes and access additional sources of liquidity for the majority of their loans.”

Christopher McEntee, President of ICE Mortgage Services and a MISMO board member, added: “We are seeing increased momentum for digital mortgages due to tech advances and in-person restrictions. Developments like these from Ginnie Mae and Federal Home Loan Banks of Dallas and Des Moines highlight the important industry collaboration on MISMO standards that are guiding innovation and moving the mortgage industry forward.”

For more information about MISMO, visit www.mismo.org.