WASHINGTON - The Mortgage Bankers Association of America said Monday that Fannie Mae and Freddie Mac have agreed on a common format for their automated underwriting systems.

The new specifications were adopted with input from the Mortgage Industry Standards Maintenance Organization, which was set up by the MBA in January 2000 to serve as a vehicle for establishing electronic commerce standards. Mismo is made up of MBA members, technology vendors, and the two government-sponsored enterprises.

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