Governance Committee Priorities for 2008
In January 2008, the MISMO Governance Committee (GC) decided it would continue work on the three major priorities for 2007: Organization, Standards Advancement, and Communication & Outreach. A subcommittee was formed for each priority area, and each GC member is participating on a subcommittee. The charters and objectives of the subcommittees are as follows.

Organization
To provide continual value to the industry, the operation and structure of the MISMO organization must be aligned to its overall goals so that MISMO as an entity is positioned to support the work of its volunteers. This year, the subcommittee's goals are to:

• Implement the online project planning and reporting tools developed in 2007, to manage critical path items more effectively
• Clearly define participant roles and responsibilities, especially for Workgroup (WG) chairs, co-chairs/vice-chairs, and Governance Committee members
• Restructure the Residential and Commercial standards management teams
• Better supervise, assess, and support WGs and develop WG leaders
• Participate in defining the MISMO Release Schedule process and monitor the adoption of the approved process for adherence that process

Standards Advancement
As the real estate finance industry evolves, MISMO must continue to develop standards and specifications that support the current environment. This year, the subcommittee's goals are to:

• Monitor delivery of Version 3.0 Architecture milestones
• Examine the relationships between eMortgage standards and v3.0
• Evaluate the feasibility of chartering a Reverse Mortgage WG
• Develop an Executive Summary of the benefits and value of v3.0

Communication and Outreach
The MISMO organization supports the adoption of MISMO standards throughout the mortgage industry. In order to achieve increased adoption, MISMO must effectively communicate its mission, promote its initiatives, and celebrate its successes. This year, the subcommittee's goals are to:

• Increase adoption among the MISMO subscriber base
• Increase compliance certifications earned through MISMO's MXCompliance service
• Enhance communication through various media including the Web site, print and industry articles
• Develop non-technical value proposition for executives
• Create quantitative measurements of MISMO benefits