There are many different types of loan origination software (LOS) platforms and data submission portals. It can be overwhelming at times when each company seems to have its own technology solutions. As the lending community seeks to standardize data through the XML MISMO standards, lenders, appraisal management companies (AMCs) and appraisers alike will need to ensure that their chosen platform securely connects to their clients’ platforms. 

“One of the first questions for integration partners should be whether or not the partner retains data that is received from the LOS,” said Keven Smith, president and chief executive officer of Mortgage Builder Software, Southfield, Mich. “If they do retain any portion of the data received, the client needs to do its due diligence with the partner as to its security and data protection protocols.”