2018-08-15T08:39:35-05:00 2017-09-30 521855942 Tate and Tryon 2021 L Street NW Suite 400 Washington DC 20036 990 2016-10-01 510502943 MORTGAGE INDUSTRY STANDARDS MAINTENANCE ORGANIZATION INC MORT 2025572700 1919 M STREET No 5TH FL WASHINGTON DC 20036 RICHARD HILL EXECUTIVE VICE PRESIDENT 2025572700 2018-08-15 1 Deborah G Kosnett P00290720 2022932200 2018-08-14 2016 2022-09-23 18:48:47Z RICHARD HILL 1919 M STREET No 5TH FL WASHINGTON DC 20036 840780 0 X www.mismo.org X 2004 DE MISMO is the standards development body for the mortgage industry. MISMO developed a common language for exchanging information for the mortgage finance industry. MISMO standards are accepted and deployed by every type of entity involved in creating mortgages, and they are required by most regulators, housing agencies and the GSEs that participate in the industry. MISMO standards, residential and commercial, are grounded in an open process to develop, promote and maintain voluntary consensus-based standards that allow participants in the mortgage industry such as mortgage lenders, investors in real estate and mortgages, servicers, industry vendors, borrowers and other parties to exchange information and more securely, efficiently and economically. 11 10 0 444 0 0 0 0 767165 840780 0 0 0 0 767165 840780 0 0 0 0 0 0 0 0 0 695823 869251 695823 869251 71342 -28471 646441 642999 219096 244125 427345 398874 X To drive standardized data and information and improved business practices between all mortgage stakeholders through collaborative and innovative initiatives that improve efficiency, reduce costs and facilitate stakeholder success. 1 0 Standards Development: The Mortgage Industry Standards Maintenance Organization (MISMO) was started in 1999 by the Mortgage Bankers Association (MBA) to promote, coordinate, and facilitate the mortgage industry's efforts to create standardized electronic real estate finance transactions. MISMO became a not-for-profit subsidiary of MBA in 2004. MISMO members pay annual dues on a rolling calendar year.Mortgage bankers, lenders, servicers, vendors and service providers develop and use MISMO standards. MISMO standards are accepted and deployed by every type of entity involved in creating mortgages, and they are required by most regulators, housing agencies and the GSEs that participate in the industry. These standards promote data quality and consistency throughout the industry. They reduce costs, increase transparency, and boost investor confidence in mortgages as an asset.MISMO's achievements during FY17 focused on the continuity of operations, stable support of systems infrastructure, support for significant business and technical standards development activity, development of a strategic roadmap for the future state of MISMO, significant development work on new model components in support of future state; and continued emphasis on expanding adoption of MISMO's new collaboration tool, MISMO Connect. The core function of MISMO is the development of standards by its workgroups (WG). Each WG is staffed by industry volunteer contributors that focus on specific business process areas. Standards activity is conducted according to a rigorously enforced set of policies and procedures in accordance with the MISMO intellectual Property Rights (IPR) and Antitrust Policies. Contributors chair workgroups, write minutes, author business and technical documentation, represent the organization at industry conferences and attend meetings and conference calls to contribute their expertise towards creating industry standards.Accomplishments in the development of MISMO standards in FY17 are as follows:MISMO experienced significant traction with respect to adoption of the MISMO standards. MISMO continued to be used by Fannie Mae and Freddie Mac to comply with the requirements of the FHFA-mandated Uniform Mortgage Delivery Program (UMDP). MISMO was used in the development of the FHA Electronic Appraisal Delivery (EAD) and Electronic Binder requirements. MISMO was used in the re-write of the Ginnie Mae Pool Delivery Dataset (PDD). MISMO was used in the GSEs new Uniform Closing Dataset (UCD). MISMO was used in the GSEs new Uniform Loan Application Dataset (ULAD). MISMO standards were used in the CFPBs revised Home Mortgage Disclosure Act (HMDA) reporting requirements.MISMO elevated Version 3.3 of the MISMO Reference Model to Recommendation status in April 2017. Recommendation' status is the highest possible level given to a MISMO standard. MISMO members voted to elevate Version 3.3 to Recommendation status based on evidence of multiple successful industry implementations. MISMO elevated its Commercial Rent Roll standards to Candidate Recommendation status in August 2017. Candidate Recommendation status means that the model has been thoroughly reviewed by a wide range of organizations and industry participant and MISMO believe it is ready for industry to use in implementations. CMSP PROGRAM:The CMSP program allows individuals with significant knowledge of the MISMO standards and the standards development process to distinguish themselves from their peers by earning their CMSP certification. Champions Program:The MISMO Champions program, was rolled out on January 1, 2017. The program recognizes organizations that provide material support to better enable MISMO to support the entire industry. Organizations are recognized based on their level of support. Those participating in the Champions program will receive multiple benefits, including complimentary event registrations, access to exclusive briefings each year provided by MISMO Executive and Committee Leadership members and MISMO staff, and will be eligible to receive special invitations to participate and provide input at MISMO events. Participants will also be recognized on the MISMO website, at MISMO Summits, and at industry conferences. 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 X 11 10 0 1 0 0 1 1 1 1 1 0 0 1 1 1 0 1 1 0 0 0 X HEATHER MESSAM 2025572717 1919 M STREET No 5TH FL WASHINGTON DC 20036 Bill Beckmann Chairman 1.00 0.00 X X 0 0 0 Joshua Weinberg Vice-Chairman 0.50 0.00 X 0 0 0 Nancy Alley Board Member 0.50 0.00 X 0 0 0 Gabe Minton Board Member 0.50 0.00 X 0 0 0 Ken Rivkin Board Member 0.50 0.00 X 0 0 0 Kathy Gray Board Member 0.50 0.00 X 0 0 0 Michelle Korsmo Board Member 0.50 0.00 X 0 0 0 Joe Tyrrell Board Member 0.50 0.00 X 0 0 0 Pete Carroll Board Member (beg 01/01/17) 0.50 0.00 X 0 0 0 Andy Crisenbery ex-officio 0.50 0.00 X 0 0 0 Brian Hunt ex-officio 0.50 0.00 X 0 0 0 Randy Poirier ex-officio (beg 01/01/17) 0.50 0.00 X 0 0 0 Matt Seu ex-officio (beg 01/01/17) 0.50 0.00 X 0 0 0 Charlie Epperson ex-officio (beg 01/01/17) 0.50 0.00 X 0 0 0 Michael C Fratantoni President 1.00 34.00 X X 0 355002 41330 Helen Kanovsky Secretary (beg 10/01/16) 1.00 34.00 X X 0 114185 2107 Lisa J Haynes Treasurer 1.00 20.00 X X 0 178950 25662 Richard Hill Executive Vice President 2.00 33.00 X 0 233244 26375 Janis Davis Vice President 35.00 0.00 X 0 193968 19069 Phyllis K Slesinger Secretary (thru 9/30/16) 0.00 0.00 X 0 271282 24128 0 1346631 138671 0 1 1 0 mortgage bankers association 1919 m street nw 5th floor washington DC 20036 management services 549048 closergeist 826 stayman road roanoke VA 24019 consulting services 141084 2 Membership Dues 900099 502004 502004 REGISTRATION FEES 900099 197514 197514 SPONSORSHIPS 900099 124750 124750 PRODUCT FEES 900099 16512 16512 840780 840780 716030 0 124750 549048 40 1627 83297 13761 72564 16174 23056 99461 CREDIT CARD FEES 8895 MEALS 834 miscellaneous expenses 494 869251 577181 547064 44260 71573 25000 5000 0 19362 646441 642999 43554 96251 149917 147874 25625 0 219096 244125 X 427345 398874 427345 398874 646441 642999 -28471 0 X X 0 1 X 1 0 0 1 0 0 1011178 170398 170398 840780 0 840780 1039649 170398 170398 869251 0 869251 0 0 0 Michael C Fratantoni President 0 319192 0 35000 0 810 0 21200 0 22263 0 398465 0 0 Lisa J Haynes Treasurer 0 162167 0 16000 0 783 0 8225 0 21281 0 208456 0 0 Richard Hill Executive Vice President 0 212768 0 18500 0 1976 0 17320 0 14302 0 264866 0 0 Janis Davis Vice President 0 187352 0 5700 0 916 0 12415 0 10710 0 217093 0 0 Phyllis K Slesinger Secretary (thru 9/30/16) 0 246927 0 0 0 24355 0 17225 0 8503 0 297010 0 0 Part I, Line 3 MISMO'S PARENT ORGANIZATION, THE MORTGAGE BANKERS ASSOCIATION, SETS THE MISMO PRESIDENT'S COMPENSATION USING THE FOLLOWING CRITERIA: COMPENSATION COMMITTEE, FORM 990 OF OTHER ORGANIZATIONS, APPROVAL BY THE COMPENSATION COMMITTEE. Form 990, Part III, line 2 Champions Program: The MISMO Champions program, was rolled out on January 1, 2017. The program recognizes organizations that provide material support to better enable MISMO to support the entire industry. Organizations are recognized based on their level of support. Those participating in the Champions program will receive multiple benefits, including complimentary event registrations, access to exclusive briefings each year provided by MISMO Executive and Committee Leadership members and MISMO staff, and will be eligible to receive special invitations to participate and provide input at MISMO events. Participants will also be recognized on the MISMO website, at MISMO Summits, and at industry conferences. Form 990, Part VI, Section A, line 3 MISMO HAS CONTRACTED WITH THE MORTGAGE BANKERS ASSOCIATION, A RELATED SECTION 501(C)(6) ORGANIZATION, FOR MANAGEMENT SERVICES. Form 990, Part VI, Section A, line 6 THE SOLE MEMBER OF MISMO IS THE MORTGAGE BANKERS ASSOCIATION, A RELATED IRC SECTION 501(C)(6) ORGANIZATION. Form 990, Part VI, Section A, line 7a MEMBERS OF THE MISMO BOARD OF DIRECTORS ARE ELECTED BY THE MORTGAGE BANKERS ASSOCIATION (MBA), A RELATED IRC SECTION 501(C)(6) ORGANIZATION. Form 990, Part VI, Section A, line 7b MORTGAGE BANKERS ASSOCIATION, AS THE SOLE MEMBER OF MISMO, APPROVES ALL BYLAWS CHANGES. Form 990, Part VI, Section B, line 11b THE FORM 990 IS REVIEWED BY THE MISMO EXECUTIVE VICE PRESIDENT AND THE MISMO VICE PRESIDENT. THE BOARD IS PROVIDED A COPY BEFORE IT IS FILED. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and audited financial statements are not generally made available to the general public, but if requests for copies of these documents were to be received, the organization would consider making them available to the requestor. FORM 990, PART VI, LINES 13 AND 14 THE WHISTLE-BLOWING AND DOCUMENT RETENTION POLICIES OF THE MORTGAGE BANKERS ASSOCIATION ARE DEEMED TO APPLY TO MISMO. FORM 990, PART XI, LINE 2C THE AUDIT OVERSIGHT PROCESS HAS REMAINED UNCHANGED FROM THE PRIOR YEAR. MORTGAGE BANKERS ASSOCIATION 1919 M STREET NW 5TH FL WASHINGTON DC 20036 361505650 REPRESENT THE LEGISLATIVE AND REGULATORY INTERESTS OF THE FINANCE INDUSTRY IL 501(C)(6) 0 RESEARCH INSTITUTE FOR HOUSING AMERICA TRUST FUND 1919 M STREET NW 5TH FL WASHINGTON DC 20036 366109824 FURTHERING RESEARCH IN THE FIELD OF MORTGAGE BANKING AND REAL ESTATE FINANCE IL 501(C)(3) 509(A)(3) MORTGAGE BANKERS ASSOCIATION 0 MORPAC 1919 M STREET NW 5TH FL WASHINGTON DC 20036 526144335 POLITICAL ACTION COMMITTEE DC 527 MORTGAGE BANKERS ASSOCIATION 0 MORTGAGE ACTION ALLIANCE INCORPORATED 1919 M STREET NW 5TH FL WASHINGTON DC 20036 271893100 SUPPORT COMMON BUSINESS INTERESTS OF REAL ESTATE FINANCE INDUSTRY DE 501(C)(6) MORTGAGE BANKERS ASSOCIATION 0 MBA OPENS DOORS FOUNDATION 1919 M STREET NW 5TH FL WASHINGTON DC 20036 320355086 provides rental/mortgage assistance to families w/critically ill children DE 501(C)(3) 509(A)(1) MORTGAGE BANKERS ASSOCIATION 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 MORTGAGE BANKERS ASSOCIATION M 549048 contractual fee MORTGAGE BANKERS ASSOCIATION P 126972 actual EXPENDITURES mORTGAGE BANKERS ASSOCIATION Q 318554 REIMB FOR credit card receipts