Originally published on May 17, 2022, by Tara Dunion for the Mortage Bankers Association.
MISMO®, the real estate finance industry standards organization, seeks public comment on phase two of proposed data standards for the Commercial Appraisal Dataset. The 60-day comment period runs through July 12.
The proposed MISMO dataset enhances the current Commercial Appraisal Dataset, published in May 2021, by adding retail, industrial and office-related data points and use cases. These additions also expand data collected for multifamily properties, which further the ability of commercial appraisers to fully use the standard. The proposed standard helps facilitate efficient exchange of commercial appraisal information, critical for underwriting and loss mitigation between multiple industry participants and allows them to exchange appraisal information on commercial properties.