New Study Finds Cost Savings From Adopting MISMO Rules
November 5, 2004
Adoption of the technology standards issued by the Mortgage Industry Standards Maintenance Organization can dramatically lower origination costs for both lenders and borrowers, according to a study commissioned by the Mortgage Bankers Association. Direct costs can be lowered by as much as $249 per loan, the researchers found. In addition, the surveys show that execution costs can be improved by as much as 15.38 basis points, a 25-50 percent pickup in retail lending margins, or