2015-08-12T10:25:31-05:00 2014-09-30 521855942 TATE AND TRYON 2021 L STREET NW SUITE 400 WASHINGTON DC 20036 990 2013-10-01 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 2015-08-12 1 DEBORAH G KOSNETT P00290720 2022932200 2015-08-11 2013 2016-02-25 16:41:14Z RICHARD HILL 1919 M STREET NW NO 5TH FL WASHINGTON DC 20036 698177 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. 9 8 0 403 0 0 0 0 510379 698177 0 0 0 0 510379 698177 0 0 0 0 0 0 0 0 0 492796 629715 492796 629715 17583 68462 455072 599993 243043 319502 212029 280491 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. 0 0 STANDARDS DEVELOPMENTTHE 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 2013-2014 FISCAL YEAR FOCUSED ON CONTINUITY OF OPERATIONS AND STABLE SUPPORT OF SYSTEMS INFRASTRUCTURE AND SUPPORT FOR SIGNIFICANT TECHNICAL STANDARDS DEVELOPMENT ACTIVITY. 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 3.3.0 OF THE REFERENCE MODEL TO CANDIDATE RECOMMENDATION STATUS. CANDIDATE RECOMMENDATION STATUS IS 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 FHFA-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). -- THE MISMO BOARD OF DIRECTORS APPROVED ENHANCEMENTS TO POLICY AND PROCEDURE AS FOLLOWS: -- MISMO BYLAWS WERE UPDATED INCLUDE TERM LIMITS FOR BOARD MEMBERS AND FOR THE CHAIR; -- MISMO POLICIES AND PROCEDURES WERE ENHANCED TO INCLUDE DOCUMENTATION OF THE ROLES AND RESPONSIBILITIES OF THE STRATEGIC PLANNING; EDUCATION AND MEMBERSHIP AND REVENUE COMMITTEES; A DEFINITION OF MISMO STANDARDS; AND REMOVAL OF DUPLICATIVE LANGUAGE OUTLINING THE STANDARDS DEVELOPMENT PROCESS; -- MISMO DEVELOPMENT PROCESS DOCUMENTS (RESIDENTIAL AND COMMERCIAL) WERE ESTABLISHED TO DOCUMENT THE STANDARDS DEVELOPMENT PROCESS IN EACH AREA. -- THE MISMO BUDGET AND EXPENDITURE AUTHORITY RESOLUTION WAS ADOPTED TO PROVIDE FURTHER CLARITY SPECIFIC TO ROLES, RESPONSIBILITIES AND LIMITATIONS ASSOCIATED WITH APPROVAL OF BUDGETED AND UNBUDGETED OBLIGATIONS. 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 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 0 0 0 0 X 9 8 0 1 1 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 PETER CARROLL BOARD MEMBER 0.50 X 0 0 0 TOM FINK BOARD MEMBER 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 JOSH WEINBURG BOARD MEMBER 0.50 X 0 0 0 EDDY WETSEL BOARD MEMBER 0.50 X 0 0 0 MICHAEL C FRATANTONI PRESIDENT 1.00 34.00 X X 0 258409 26421 PHYLLIS K SLESINGER SECRETARY 1.00 34.00 X 0 322424 24047 MARGARET COLON TREASURER 1.00 34.00 X 0 329249 6375 RICHARD HILL EXECUTIVE VICE PRESIDENT 2.00 33.00 X 0 205214 15034 JANIS DAVIS VICE PRESIDENT 35.00 0.00 X 0 182969 11488 ANGELA LAZEAR FORMER TREASURER 1.00 34.00 X 0 126223 19164 0 1424488 102529 0 1 1 0 MORTGAGE BANKERS ASSOCIATION 1919 M STREET NW 5TH FLOOR WASHINGTON DC 20036 MANAGEMENT SERVICES 420000 1 MEMBERSHIP DUES 900099 385875 385875 REGISTRATION FEES 900099 207302 207302 SPONSORSHIPS 900099 94000 94000 PRODUCT FEES 900099 11000 11000 698177 698177 604177 0 94000 420000 1093 1292 94890 10723 2644 13975 16823 54395 CREDIT CARD FEES 12386 MEALS 1179 315 629715 407186 551682 10000 14000 5000 37886 29311 455072 599993 53584 69418 189459 250084 243043 319502 X 212029 280491 212029 280491 455072 599993 68462 0 X X 0 1 X 1 0 0 1 0 0 X 740687 42510 42510 698177 0 698177 672225 42510 42510 629715 0 629715 PART X, LINE 2: THE ASSOCIATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR INCOME TAX POSITIONS TAKEN. THEREFORE, MANAGEMENT HAS NOT IDENTIFIED ANY UNCERTAIN INCOME TAX POSITIONS. THE FISCAL YEARS 2011 THROUGH 2014 REMAIN OPEN FOR EXAMINATION BY TAXING AUTHORITIES. 0 0 0 MICHAEL C FRATANTONI PRESIDENT 0 232640 0 25000 0 769 0 10795 0 19667 0 288871 0 0 PHYLLIS K SLESINGER SECRETARY 0 293752 0 25000 0 3672 0 15300 0 12053 0 349777 0 0 MARGARET COLON TREASURER 0 286910 0 40000 0 2339 0 6375 0 4803 0 340427 0 0 RICHARD HILL EXECUTIVE VICE PRESIDENT 0 190678 0 13000 0 1536 0 6287 0 14244 0 225745 0 0 JANIS DAVIS VICE PRESIDENT 0 172028 0 10000 0 941 0 5241 0 8643 0 196853 0 0 ANGELA LAZEAR FORMER TREASURER 0 74749 0 0 0 51474 0 5046 0 14118 0 145387 0 0 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 4 THE BYLAWS WERE AMENDED IN DECEMBER 2013, WITH THE FOLLOWING CHANGES: -ESTABLISHED TERM LIMITS FOR THE BOD -LIMITED CHAIR TO TWO CONSECUTIVE ONE YEAR TERMS -LIMITED BOARD PARTICIPATION TO TWO CONSECUTIVE TWO YEAR TERMS 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 EXECUTIVE VICE PRESIDENT AND THE CHIEF ADMINISTRATIVE OFFICER (CAO), AND 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 SPONSORS PHILANTHROPIC ACTIVITIES FOCUSED ON HOME OWNERSHIP DE 501(C)(3) 509(A)(1) MORTGAGE BANKERS ASSOCIATION 0 LENDER TECHNOLOGIES CORPORATION (DISSOLVED) 1919 M STREET NW 5TH FL WASHINGTON DC 20036 522233464 ENABLES VALUE-ADDED TECHNOLOGY AND INFORMATION PRODUCTS DC N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 1 MORTGAGE BANKERS ASSOCIATION M 420000 ACTUAL EXPENDITURES MORTGAGE BANKERS ASSOCIATION P 115031 CONTRACTUAL FEE MORTGAGE BANKERS ASSOCIATION S 438140 REIMB FOR CREDIT CARD FEES REC'D