Fee Modernization Development Workgroup (DWG)
Join the Fee Modernization workgroup to hear about the latest efforts, to collaborate and contribute to our work efforts!
Our Goal
Using the previously published Consumer Facing Charge and Fee Naming Guide as a starting point, this DWG will map the data to MISMO v3.3 and v3.6, updating the MISMO Reference Model FEE structure as necessary. This initiative was brought forward by Freddie Mac and Fannie Mae (the GSEs), will also use information collected during the GSE’s recent UCD Critical Edits Phase 3 initiative, which focused on delivering valid FeeType enumerations using MISMO v3.3.0).
The GSE’s experience has shown the need to increase available enumerations as well as to provide a mechanism for categorizing and sub-categorizing fees so that they can be logically classified and aggregated if necessary. This effort is part of
MISMO’s work to enhance interoperability throughout the industry.
How to Join
Anyone may participate in a MISMO development workgroup or community of practice regardless of membership status. Voting members of Information Management and Architecture Workgroup are elected as per governance procedures. Membership in MISMO is open to anyone - mortgage lenders, banks, credit unions, servicers, vendors, government agencies and more. MISMO members receive a voice, and vote, in creating and enhancing industry standards used by the entire industry. Learn more here.
Leadership
Elizabeth Bowser, Fannie Mae, Co-Chair
Suzanne Garwood, JP Morgan Chase, Co-Chair
Facilitator
[email protected]
Meeting Schedule
This workgroup has recently completed its work effort, with 40+/- new Fee Type enumerations that will be published in the upcoming MISMO Reference Model v3.6.1. Corresponding updates were made to the existing Consumer Facing Charge and Fee Naming Guide which is currently pending governance review and approval.
Meetings are currently on hold and will be scheduled ad hoc as needed, depending on feedback received during the governance process and/or public comment period.
Meeting URL: https://mba-org.zoom.us/j/87145148029