Categories
Mortgage

Digitization of Mortgage

mort-gage
(old french)
noun

1. Death Pledge

CMHC released a publication on Mortgage Data Standards–analyzing the impact of initiating a system of data standards in the Canadian mortgage industry. One aspect of the data standards framework I’m paying close attention to is what the acceleration of digitization means to the future of mortages. The overarching premise is to provide the foundation for innovation development, and facilitate easier technology adoption.

The recent launch of Placekey–an intiative surrounding a universal place identifier that unifies location data–already demonstrates the collective shift toward an open ecosystem of data elements, definitions, and relationships that make up a reference model. It’s a movement of organizations and individuals that prize access to geospatial data.