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The Mortgage Bankers Association (MBA), parent corporation of the Mortgage Industry Standards Maintenance Organization (MISMO), has appointed Bill Beckmann, Kyung Cho-Miller, Michelle Korsmo, and Joe Tyrrell to the MISMO Board of Directors.
“I would like to congratulate Bill, Kyung, Michelle and Joe on becoming the newest members of MISMO’s Board of Directors,” said Dave Stevens, MBA president and chief executive officer. “The mortgage industry continues to evolve rapidly and MISMO will play an increasing role in helping to solve important business and operational challenges. Bill, Kyung, Michelle and Joe are accomplished executives and will provide perspective and guidance to help MISMO meet the current and future needs of the industry. We look forward to their contributions to MISMO.”
Bill Beckmann is president and CEO of MERSCORP Holdings Inc. and its subsidiary, Mortgage Electronic Registration Systems Inc. (MERS). Beckmann oversees the management of a national electronic registry system that tracks the changes in servicing rights and beneficial ownership interests in mortgage loans that are registered on the registry. Beckmann joined MERSCORP Holdings from Beckmann Insights LLC, an independent consulting firm. He was formerly chairman and CEO of CitiMortgage, Inc., one of the nation’s leading originators and servicers of residential mortgages. During his tenure at CitiMortgage, Beckmann had responsibility for strategy, sales, operations, capital markets, and regulation/compliance. Prior to this, he was president of Citigroup’s real estate servicing and technology group, providing customer service, technology and default management services to customers of CitiMortgage, CitiFinancial and Citi’s auto business. Beckmann was also chairman and chief executive officer of The Student Loan Corporation.
Kyung Cho-Miller is executive director and fair lending counsel at JPMorgan Chase. As fair lending counsel she works closely with the Corporate Compliance Team to review and test aspects of consumer and small businesses to assess fair lending compliance and risk. She also works closely with the Exam Team on regulatory and investor exams on Fair Lending, Community Reinvestment Act (CRA) and the Home Mortgage Disclosure Act (HMDA). Before her fair lending role, she provided guidance on Dodd-Frank regulations and provided legal support on all aspects of the originations business, including product development, federal and investor exams, and compliance with HMDA, ECOA, RESPA and TILA. Prior to joining Chase in October 2010, Cho-Miller worked at Fannie Mae in several positions in the legal department and executive office. Cho-Miller also held positions as associate general counsel at CitiFinancial and as counsel at the Division of Consumer and Community Affairs of the Federal Reserve Board where she specialized in TILA, RESPA and other financial statutes and regulations.
Michelle L. Korsmo is the chief executive officer of the American Land Title Association (ALTA), the national trade association for real estate settlement services and the land title industry. Korsmo leads the association’s efforts to promote the safe and efficient transfer of ownership of real property, as well as all other activities of the association. Korsmo previously served as executive vice president of the Americans for Prosperity Foundation. Prior to that, Korsmo served as deputy chief of staff at the U.S. Department of Labor.
Joe Tyrrell is senior vice president of corporate strategy, at Ellie Mae. Tyrrell oversees Ellie Mae’s business and corporate development efforts involving the company’s network of current and potential business partners and merger and acquisition strategies. Tyrrell also oversees a number of strategic initiatives, including Ellie Mae’s Total Quality Loan program and customer relationship management offerings. Prior to his current role, Tyrrell served as Ellie Mae’s senior vice president of client management and business development. Tyrrell joined Ellie Mae in 2002, having previously served as vice president for Providian Financial in addition to numerous executive positions within the mortgage industry.
Beckmann, Cho-Miller, Korsmo, and Tyrrell join the following members of the MISMO Board of Directors: Steve Gozdan, Chief Financial Officer of Cenlar FSB; Peter Carroll, Senior Vice President, Capital Markets at Wells Fargo & Co.; Joanne Denver, Managing Director, Cornerstone Real Estate Advisers, LLC; Tom Fink, Senior Vice President and Managing Director of Trepp, LLC; Linglong He, Chief Information Officer of Quicken Loans Inc; Gabe Minton, Senior Vice President and Chief Technology Officer of PHH Mortgage; Joshua Weinburg, Senior Vice President for Compliance, First Choice Loan Services, Inc; Eddy Wetsel, Director of Operations for Real Estate Lending at USAA Federal Savings Bank and Mike Fratantoni, President of MISMO and Chief Economist, Senior Vice President, Research and Industry Technology, Mortgage Bankers Association.
Harry Gardner will be stepping down from the MISMO Board of Directors. “I would like to thank Harry Gardner for his extensive contributions to MISMO” said Mike Fratantoni, MISMO President and MBA Senior Vice President and Chief Economist. “Harry has been a leader within MISMO since its inception, contributing to the advancement of the standards in many roles over the years, most recently as a member of the MISMO Board of Directors. Harry’s contributions have been invaluable to evolving the standard into the industry asset that it is today.”
The MISMO Board of Directors represents a cross-section of the real estate finance industry that manages and directs MISMO’s business and affairs. The MISMO board consists of representatives from the residential and commercial mortgage industry who serve for staggered two-year terms.