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MISMO has started to recruit participants for the workgroup, which will initially focus on a “discovery phase” that will focus on analyzing and developing standards for reverse mortgages. The phase also involves establishing initial priorities and a preliminary plan for evaluating potential deliverables and existing MISMO products that could be enhanced to support reverse mortgages.
The reverse mortgage workgroup will conduct regular meetings via conference calls. Once the roadmap is complete, subsequent phases may be arranged to begin working on the identified priorities established by the DWG.
“Industry support is necessary to ensure that all relevant needs are considered and to confirm that key activities are identified, addressed, and incorporated into the reverse mortgage roadmap,” Mismo said in its press release.
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