The Mortgage Bankers Association (MBA) has announced it has completed the transition, announced in September, and will resume support for the Mortgage Industry Standards Maintenance Organization Inc. (MISMO). With the successful transition, MISMO will now focus efforts on regulatory implementation and advocating for broader adoption of data standards throughout the industry.
"MBA supports greater efficiency and lower costs throughout the industry by advocating for broad adoption of industry consensus standards developed by MISMO. We are actively engaging both regulators and industry in this effort," said MBA President and CEO David H. Stevens. "MBA will also provide educational opportunities aimed at helping industry and government better understand and implement MISMO standards. Standardization and transparency are critical to the return of investor confidence and liquidity in the mortgage marketplace, and MISMO has a crucial role to play. I would recommend that MBA members become MISMO subscribers in order to help guide this effort."
To assist with these efforts, MBA has hired Cindy Bojokles as its new director of industry standards. In this role, Bojokles is responsible for supporting and advancing the activities of MISMO. Bojokles will work closely with industry executives to increase the standards available to the industry. Bojokles will also help government agencies understand the benefits of adopting the voluntary consensus standards developed by MISMO.
"Cindy has spent over 15 years working on data standards, data quality and business solutions for the mortgage industry. Her detailed knowledge of technology and business processes will prove invaluable to MBA and the mortgage industry as it continues to advance MISMO and industry standards," said Stevens.
