MISMO December Newsletter
DECEMBER 2020 ISSUE
To the MISMO community - thanks for all the great work this year! We've achieved a tremendous amount during a challenging time and we are grateful for the successful results and collaboration!
This newsletter contains the top MISMO info you need to know for December 2020 and heading into the new year. Here's news you can use on recent successes, upcoming events and important initiatives.
Innovation Investment Fee
MISMO plays an essential role as the central point for collaboration between lenders, servicers, regulators, GSEs, and technology providers, enabling the industry to achieve a more seamless and productive digital future.
To help achieve this goal, the MBA and MISMO boards of directors endorsed a funding model of a $0.75 fee for all new loans. The initial billing will occur on February 1st, 2021. We encourage lenders to include the MISMO Innovation Investment Fee in their 2021 budget planning and to to set up MISMO as a valid vendor within their Vendor Management systems. Check out this MBANow video where Mike Fratantoni discusses how the fee is enabling the industry's future.
Lenders can find all the latest fee details at this new Innovation Investment Fee weblink. https://www.mismo.org/get-started/innovation-fee
Questions can be sent to InvFee@mismo.org.
Seth Appleton Joins MISMO Today as New President
As you may have read in this recent NewsLink article, Seth Appleton joins MISMO today as its new President. Seth previously served as the Assistant Secretary, Policy Development and Research, for the U.S. Department of Housing and Urban Development (HUD) and as the Principal Executive Vice President of Ginnie Mae.
The Nov. news release contained this quote: "Seth's considerable experience in senior leadership roles at HUD will serve MISMO well as it enters an exciting new phase of its standards development work," said Bob Broeksmit, President and CEO of MBA.
Welcome to MISMO Seth! Register Today for the MISMO Winter Summit, Jan 11-14, 2021!
Mark your calendars for these must-attend interactive general sessions for the Winter Summit. These sessions kick things off on Monday, Jan. 11 - Moving Beyond 2020! Hello 2021! What Now? - Join this session to hear about MBA's latest forecast of the various forces impacting the market during these unprecedented times as well as key outcomes from the MBA Tech Profile Survey and what they may mean for your organization. A Strategic Discussion with MISMO's new President, Seth Appleton - Hear Seth's vision for the future of MISMO and how we can collaborate to best serve the mortgage finance industry in 2021 and beyond.
Other can't-miss highlights include Tech Trends Tuesday, GSE updates on Wednesday and Lender-focused Thursday. Our virtual event platform provides the opportunities you need to collaborate and connect via live chats and breakout sessions. Join the standards conversation to help determine the future of our industry! Register here today! Check out details by visiting the event page.
Sign up for the Dec. 15 Closing Instructions Templates Webinar
This free-to-MISMO members webinar dives into the new MISMO Master and Transactional Uniform Closing Instruction templates and implementation guidance. The session will highlight the benefits of template adoption. Sign up link is here.
MISMO SUCCESS: iLAD - Industry Loan Application Dataset
MISMO iLAD is a key resource in the 90 day countdown to URLA and ULAD and the March 1 sunsetting of the Fannie Mae v3.2 flat file. We encourage new participants to join the iLAD working group. Learn more at this link.
New MISMO Videos Feature Industry Experts
You'll recognize a few of your favorite industry experts discussing MISMO successes and benefits of membership. Check out a few of the new videos highlighting the MISMO story:
Click here to view The Benefits of MISMO Standards
Click here to view MISMO Successes.
Congratulations to the recently elected MISMO Standards Governance Committee leaders! Leaders of the Residential Standards Governance Committee for the 2021-2022 term include:
- Sandro Barchitta, Fannie Mae
- Carmelo Bramante, Navy Federal Credit Union, NEW
- Lynn Calahan, Wells Fargo
- Ruth Eller, Core Logic
- David Garrett, DocMagic, NEW
- Bill Klumper, First Step Software
- Leslie Malicki, MGIC, NEW
- Keith Soura, Better, NEW
- Brian Stucky, Quicken Loans, NEW
- Matt Tully, Sagent Lending Solutions, NEW
And we congratulate these Commercial Standards Governance Leaders for their appointment for the 2021-2022 term:
- Bryan Doyle, CBRE, NEW
- Brian Hunt, Fannie Mae
- Audrey Kestner, Freddie Mac, NEW
- Tom Sitzler, Actualize Consulting
MISMO In the News Recent media coverage has focused on Seth Appleton as MISMO president, the growing number of RON-certified companies, the new API Toolkit and the FHA's automated underwriting system for mortgage lenders. Highlights are below:
Congratulations to these MISMO RON Certified Providers:
Heracles Holding inc.: http://heraclescorp.com/
For more information, visit MISMO's Digital Mortgage Resource Center.
MISMO Seeks Business Success Stories
We would love to hear your business success stories. How have MISMO standards helped your business succeed? Contact us at info@MISMO.org.
Thanks for all you've done to help achieve these MISMO milestones!!
For more details go to MISMO.org.
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