The Mortgage Industry Standards Maintenance Organization, or MISMO, has announced its Board of Directors for 2022.
According to the Mortgage Bankers Association, which appoints all of MISMO's directors and chairs, the real estate finance industry's standards organization collaborates across the industry to create essential standards that expedite the exchange of information, accelerate the industry's move to a fully digital mortgage process, and establish best practices to address key business challenges
"MISMO is helping facilitate the industry's digital transformation, and its board is setting the strategic direction for the organization, leading crucial initiatives aimed at shaping our digital future," said Robert D. Broeksmit, CMB, MBA president and CEO. "MISMO standards are used in virtually every mortgage today, and our industry's ongoing success relies on the widespread adoption of these resources."
Board members represent a cross-section of the residential and commercial real estate finance industry. Board members serve two-year terms NS are responsible for overseeing the organization's standards activities. MISMO committee chairs serve as ex-officio representatives on the board.
"MISMO is built for this moment, as technology and interoperability are increasingly important to growing and retaining market share," said Seth Appleton, MISMO president. He said the board, "which includes crucial lender and C-suite representation, is well equipped to continue to drive MISMO forward as we focus on addressing the highest priority business challenges of the mortgage ecosystem."
Appleton added that the board's efforts gained strong momentum last year, and that "will grow in 2022 with these visionary leaders playing an essential role in helping us deliver value — and results — to the industry."
The board will be chaired by Gary Clark, chief operating officer of Sierra Pacific Mortgage. Christopher McEntee, vice president of ICE Mortgage Technology, will serve as vice chairman. MISMO board ex-officio members are: Seth Appleton, MISMO; Randy Poirier, vice president of Data Solutions, Black Knight, and Bryan Doyle, managing director, CBRE.
The new members of the MISMO board are:
- Sage Nichols, executive, CoreLogic
- Sally Tyler, executive vice president and division president, First American Title Insurance Co.
The returning members of the MISMO board are:
- Jeff Bode, president, Mid America Mortgage
- Gary Clark, COO, Sierra Pacific Mortgage
- Jim Follette, senior managing director and chief mortgage fulfillment officer, PennyMac
- Mike Fratantoni, chief economist, SVP of research and technology, MBA
- John Hedlund, COO and managing director, AmeriHome
- Jeff Hurley, senior managing director, CBRE
- Christopher McEntee, vice president, ICE Mortgage Technology
- Sam Oliver, Vice President, Single Family Product Delivery, Freddie Mac
- Steve Powel, executive chairman, SitusAMC
- Chad Powers, SVP, Black Knight
- Eric Ray, Senior executive vice president, chief digital officer, Radian
- Matt Rider, chief information officer of home lending technology, Wells Fargo
- Erik Schmitt, product and innovation executive, Chase
- Steven Smith, co-founder & CEO, Finicity
- Chuck Walker, vice president, digital alliances & technology integration, Fannie Mae
- Michael Wood, credit risk executive, Bank of America
- Brian Woodring, CIO, Rocket Companies
MISMO increased its membership over the past year, growing from 200 to a record 300 member companies.
The organization's initiatives include: compiling a central source of information on e-eligibility; enhancing data exchange for participants in the private label securities (PLS) market; reducing friction associated with servicing transfers; providing eMortgage technology certifications; helping the industry navigate environmental, social, and corporate governance (ESG) disclosures.
