MISMO Gets It Right

Two people that I consider to be industry visionaries have been appointed to high-level positions within the Mortgage Industry Standards Maintenance Organization (MISMO). Specifically, the MISMO board of directors represents a cross-section of the real estate finance industry that manages and directs MISMO’s business and affairs. It consists of representatives from the residential and commercial mortgage industry who serve for staggered two-year terms. Here’s the scoop on its new appointees:

First, Simplifile’s Vice President of Strategic Planning Nancy Alley was appointed by the Mortgage Bankers Association (MBA), parent corporation of the Mortgage Industry Standards Maintenance Organization (MISMO), to the MISMO board of directors.

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“It’s an exciting time at MISMO and I am honored to join the board,” Alley said. “With the standard at the forefront of solving real industry business problems and regulatory challenges, I believe MISMO is a foundational piece of our future and I’m thrilled to be a part of it.”

Second, the Mortgage Bankers Association has also appointed eLynx President and CEO Sharon Matthews to the board of directors of MISMO. eLynx advocates strongly for the adoption of industry standards and is the only vendor certified as MISMO compliant in the TRID domain and at the Premiere Level in the information exchange domain.

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“I am delighted to be joining the MISMO board,” said Matthews. “It will be an honor to work with such a highly-regarded and influential group of leaders and visionaries. I look forward to helping in the evolution and growth of MISMO standards for our industry.”

MISMO is the technology standards body for the residential and commercial real estate finance industry. MISMO develops, promotes and maintains voluntary electronic commerce procedures and standards that allow participants in the mortgage process to exchange real estate finance-related information and electronic mortgages more securely, efficiently and economically.

Dave Stevens, CMB, President and Chief Executive Officer of MBA said in announcing the new board members, “In its most recent scorecard, the Federal Housing Finance Agency pledged active support for mortgage data standardization initiatives, including MISMO. The technology used to serve customers in housing finance continues to evolve and MISMO will play an increasing role in solving business and operational problems.”

About The Author

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Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.