The Mortgage Industry Standards Maintenance Organization, a not-for-profit subsidiary of the Mortgage Bankers Association, has announced the appointment of its board of directors.The MISMO board consists of five members selected from the real estate finance industry and one ex-officio member elected from the ranks of MISMO's Governance Committee. The board includes the following newly appointed members: William Shuler, chief information officer of Residential Capital Corp., Horsham, Pa.; William Frazer, senior managing director and chief financial officer of CBRE|Melody, Houston; Stephen W. Gozdan, CFO of Cenlar FSB, Ewing, N.J.; and Dawn Gibbs, president and chief executive officer of FICS, Addison, Texas. Catherine Rodewald, managing director and CIO of Prudential Mortgage Capital Corp., Dallas, was appointed to the board last year, and the ex-officio MISMO governance director is James P. Cooke, of counsel at Ballard Spahr Andrews & Ingersoll LLP, Washington, D.C. MISMO, which develops technology standards for the real estate finance industry, can be found online at http://www.mismo.org.
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House Democrats on the Financial Services Committee said the more than 400-page Community Reinvestment Act proposal warrants more time for review, given its sweeping implications for community development and bank lending.
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A judge found United Wholesale Mortgage did not break the law in its handling of the retirement plan, which ex-workers say cost them a collective $1.8 million.
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New enhancements in business purpose lending by lenders and vendors could help originators looking for new business as conforming rates keep rising.
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Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.
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The compressed timeline could address a key challenge mortgage companies face when considering changing vendors.
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