The deadline to nominate industry professionals to serve on MISMO's residential governance committee is today.
MISMO, the Mortgage Industry Standards Maintenance Organization, is a nonprofit volunteer group that develops and maintains open source data standards for mortgage technology as an alternative to vendor-specific proprietary data transmission protocols.
There are 18 representatives on the residential governance committee, elected from MISMO's nearly 100 subscriber companies for two-year terms, which begin in January. Elections are held to fill half of the committee's positions each year.
MISMO's residential governance committee oversees the group's 19 residential workgroups, which are organized to each focus on a specific component of the mortgage industry. A commercial governance committee oversees MISMO's 12 commercial workgroups. The governance committees report to MISMO's board of directors.
Nominations are open to employees of subscriber organizations and individuals are allowed to nominate themselves. Nomination forms are available by emailing mcrable@mortgagebankers.org. The following positions are open for the 2012-2014 term:
Government Sponsored Enterprise (1 seat)
Residential Lender/Mortgage Broker (2 seats)
Credit Reporting (1 seat)
Origination Technology (1 seat)
Service Provider (1 seat)
Servicing Technology (1 seat)
Technology Vendor (1 seat)
At Large Representative (1 seat)
The governance committee is responsible for providing strategic and tactical guidance to the workgroups' standards development activities and for maintaining the architectural consistency of the MISMO specifications, the Mortgage Bankers Association, which owns MISMO, said in a release.
This round of elections comes on the heels of the MBA taking back the task of running the day-to-day operations of MISMO. Since February 2009, Merscorp, parent company of the Mortgage Electronic Registration Systems, had run the operation under a management agreement with the MBA.
The move was announced in September and the MBA completed the transition on Dec. 1. To facilitate the new responsibilities, the MBA hired former Fannie Mae IT manager Cindy Bojokles to serve as director of industry standards, an MBA position created to be dedicated exclusively to MISMO activities.
A feature in the upcoming December issue of Mortgage Technology magazine—available for download at mortgage-technology.com beginning Dec. 12—explores why the MBA is resuming its role running MISMO's daily operations and gauges reaction from industry participants and MISMO volunteers.
