2016-08-10T11:46:56-05:00 2015-09-30 521855942 TATE AND TRYON 2021 L STREET NW SUITE 400 WASHINGTON DC 20036 990 2014-10-01 510502943 MORTGAGE INDUSTRY STANDARDS MAINTENANCE ORGANIZATION INC MORT 2025572700 1919 M STREET NW NO 5TH FL WASHINGTON DC 20036 RICHARD HILL EXECUTIVE VICE PRESIDENT 2025572700 2016-08-05 1 DEBORAH G KOSNETT P00290720 2022932200 2016-08-05 2014 2016-12-15 16:53:06Z RICHARD HILL 1919 M STREET NW NO 5TH FL WASHINGTON DC 20036 746922 0 X WWW.MISMO.ORG X 2004 DE MISMO WAS CREATED TO PROMOTE AND SUPPORT THE COMMON BUSINESS INTERESTS OF THE COMMERCIAL AND RESIDENTIAL MORTGAGE MARKETS. ITS MISSION IS TO BENEFIT INDUSTRY PARTICIPANTS AND CONSUMERS OF MORTGAGE AND INVESTMENT PRODUCTS AND SERVICES BY:-FOSTERING AN OPEN PROCESS TO DEVELOP, PROMOTE, AND MAINTAIN VOLUNTARY ELECTRONIC COMMERCE PROCEDURES AND STANDARDS FOR THE MORTGAGE INDUSTRY, AND-ENABLING MORTGAGE LENDERS, INVESTORS, SERVICERS, VENDORS, BORROWERS, AND OTHER PARTIES TO EXCHANGE REAL ESTATE FINANCE RELATED INFORMATION AND EMORTGAGES MORE SECURELY, EFFICIENTLY AND ECONOMICALLY. 13 12 0 342 0 0 0 0 698177 746922 0 0 0 0 698177 746922 0 0 0 0 0 0 0 0 0 629715 671410 629715 671410 68462 75512 599993 649089 319502 293086 280491 356003 X MISMO IS THE LEADING TECHNOLOGY STANDARDS DEVELOPMENT BODY FOR THE RESIDENTIAL AND COMMERCIAL REAL ESTATE FINANCE INDUSTRIES. THE MISMO STANDARDS ARE GROUNDED IN AN OPEN PROCESS TO DEVELOP, PROMOTE AND MAINTAIN VOLUNTARY ELECTRONIC COMMERCE PROCEDURES AND STANDARDS THAT ALLOW MORTGAGE LENDERS, INVESTORS IN REAL ESTATE AND MORTGAGES, SERVICERS, INDUSTRY VENDORS, BORROWERS AND OTHER PARTIES TO EXCHANGE REAL ESTATE FINANCE-RELATED INFORMATION AND EMORTGAGES MORE SECURELY, EFFICIENTLY AND ECONOMICALLY.AN ALL-VOLUNTEER ORGANIZATION, MISMO PROMOTES DATA CONSISTENCY AMONG TRANSACTION PARTICIPANTS, REDUCES PROCESSING COSTS, INCREASES TRANSPARENCY, AND BOOSTS INVESTOR CONFIDENCE IN MORTGAGES AND REAL ESTATE AS ASSET CLASSES WHILE PERMITTING COST SAVINGS TO BE PASSED ON TO BORROWERS AND OTHER CUSTOMERS. MISMO WAS CREATED TO PROMOTE AND SUPPORT THE COMMON BUSINESS INTERESTS OF THE COMMERCIAL AND RESIDENTIAL MORTGAGE MARKETS. 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 SUBSCRIBERS PAY ANNUAL DUES ON A ROLLING CALENDAR YEAR. MORTGAGE BANKERS, LENDERS, SERVICERS, VENDORS, AND SERVICE PROVIDERS DEVELOP AND USE MISMO STANDARDS. THESE STANDARDS PROMOTE DATA QUALITY AND CONSISTENCY THROUGHOUT THE INDUSTRY. THEY REDUCE COSTS, INCREASE TRANSPARENCY, AND BOOST INVESTOR CONFIDENCE IN MORTGAGES AS AN ASSET CLASS. MISMO'S ACHIEVEMENTS DURING THE 2014-2015 FISCAL YEAR FOCUSED ON CONTINUITY OF OPERATIONS, STABLE SUPPORT OF SYSTEMS INFRASTRUCTURE, SUPPORT FOR SIGNIFICANT TECHNICAL STANDARDS DEVELOPMENT ACTIVITY, AND DEVELOPMENT OF A STRATEGIC ROADMAP FOR THE FUTURE STATE OF MISMO. THE CORE FUNCTION OF MISMO IS THE DEVELOPMENT OF STANDARDS BY ITS WORKGROUPS (WG). EACH WG IS STAFFED BY INDUSTRY VOLUNTEERS THAT FOCUS ON SPECIFIC PROCESS AREAS, AND 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. VOLUNTEERS HELP CHAIR WORKGROUPS, WRITE MINUTES, AUTHOR TECHNICAL DOCUMENTATION, REPRESENT THE ORGANIZATION AT TRADE SHOWS, AND ATTEND MEETINGS AND CONFERENCE CALLS TO CONTRIBUTE THEIR EXPERTISE TOWARD CREATING STANDARDS FOR ELECTRONIC COMMERCE. ACCOMPLISHMENTS IN THE DEVELOPMENT OF MISMO STANDARDS LAST YEAR ARE AS FOLLOWS:--MISMO ELEVATED VERSION 3.3.1 OF THE REFERENCE MODEL TO CANDIDATE RECOMMENDATION STATUS. CANDIDATE RECOMMENDATION STATUS MEANS THAT THE MODEL HAS BEEN THOROUGHLY REVIEWED BY A WIDE RANGE OF ORGANIZATIONS AND INDUSTRY PARTICIPANTS AND MISMO BELIEVES IT IS READY FOR INDUSTRY TO USE IN IMPLEMENTATIONS. --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 FHA-MANDATED UNIFORM MORTGAGE DELIVERY PROGRAM (UMDP). MISMO WAS USED IN THE DEVELOPMENT OF THE FHA ELECTRONIC APPRAISAL DELIVERY (EAD) 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).THE MISMO BOARD OF DIRECTORS APPROVED ENHANCEMENTS TO POLICY AND PROCEDURE AS FOLLOWS:--A RESOLUTION WAS APPROVED SUCH THAT ALL BOARD MEMBER TERMS WILL BEGIN IN JANUARY AND END IN DECEMBER. 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. 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 13 12 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 NW NO 5TH FL WASHINGTON DC 20036 STEPHEN GOZDAN CHAIRMAN 1.00 X X 0 0 0 JOSH WEINBURG VICE CHAIRMAN 0.50 X 0 0 0 JOANNE DENVER BOARD MEMBER 0.50 X 0 0 0 GABE MINTON BOARD MEMBER 0.50 X 0 0 0 LINGLONG HE BOARD MEMBER 0.50 X 0 0 0 TOM FINK BOARD MEMBER 0.50 X 0 0 0 EDDY WETSEL BOARD MEMBER 0.50 X 0 0 0 KATHY GRAY BOARD MEMBER 0.50 X 0 0 0 KYUNG CHO-MILLER BOARD MEMBER 0.50 X 0 0 0 BILL BECKMANN BOARD MEMBER 0.50 X 0 0 0 MICHELLE KORSMO BOARD MEMBER 0.50 X 0 0 0 JOE TYRRELL BOARD MEMBER 0.50 X 0 0 0 MICHAEL C FRATANTONI PRESIDENT 1.00 34.00 X X 0 314494 30820 PHYLLIS K SLESINGER SECRETARY 1.00 34.00 X 0 345416 24925 LISA J HAYNES TREASURER (INCOMING) 1.00 34.00 X 0 65287 2341 RICHARD HILL EXECUTIVE VICE PRESIDENT 15.00 20.00 X 0 217590 15835 JANIS DAVIS VICE PRESIDENT 35.00 X 0 183094 12231 MARGARET A COLON TREASURER (OUTGOING) 1.00 34.00 X 0 200355 3635 0 1326236 89787 0 1 1 0 MORTGAGE BANKERS ASSOCIATION 1919 M STREET NW 5TH FLOOR WASHINGTON DC 20036 MANAGEMENT SERVICES 498000 1 MEMBERSHIP DUES 900099 394208 394208 REGISTRATION FEES 900099 201489 201489 SPONSORSHIPS 900099 142725 142725 PRODUCT FEES 900099 8500 8500 746922 746922 604197 0 142725 498000 1638 4713 9024 12725 18309 18404 91165 CREDIT CARD FEES 11552 TEMPORARY HELP 4616 BAD DEBT 549 MEALS 468 247 671410 551682 483159 14000 122745 5000 14500 29311 28685 599993 649089 69418 59710 250084 233376 319502 293086 X 280491 356003 280491 356003 599993 649089 75512 0 X X 0 1 X 1 0 0 1 0 0 922412 175490 175490 746922 0 746922 846900 175490 175490 671410 0 671410 0 0 0 MICHAEL C FRATANTONI PRESIDENT 0 288954 0 25000 0 540 0 14782 0 19344 0 348620 0 0 PHYLLIS K SLESINGER SECRETARY 0 311584 0 30000 0 3832 0 15600 0 12631 0 373647 0 0 RICHARD HILL EXECUTIVE VICE PRESIDENT 0 198719 0 17900 0 971 0 9009 0 12423 0 239022 0 0 JANIS DAVIS VICE PRESIDENT 0 177046 0 5400 0 648 0 5406 0 11680 0 200180 0 0 MARGARET A COLON TREASURER (OUTGOING) 0 189194 0 10000 0 1161 0 3635 0 1653 0 205643 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 MISMO INTRODUCED THE CERTIFIED MISMO STANDARDS PROFESSIONAL (CMSP) PROGRAM IN THE SPRING OF 2015. SEE PART III, LINE 4B FOR PROGRAM SERVICE DESCRIPTION. 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 11 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 WITH 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 498000 ACTUAL EXPENDITURES MORTGAGE BANKERS ASSOCIATION P 117056 CONTRACTUAL FEE MORTGAGE BANKERS ASSOCIATION Q 350135 REIMB FOR CREDIT CARD FEES REC'D