2025-08-11T12:54:47-05:00 2024-09-30 410746749 CLIFTONLARSONALLEN LLP 901 N GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2023-10-01 510502943 MORTGAGE INDUSTRY STANDARDS MAINTENANCE ORGANIZATION INC MORT 2025572700 1919 M STREET 5TH FL WASHINGTON DC 20036 RICHARD HILL MISMO ACTING PRESIDENT 2025572700 2025-08-11 1 1 CHICHI MSANGI P01972113 5712279500 2025-08-06 2023 2025-03-06 01:10:19Z DAVID COLEMAN 1919 M STREET 5TH FL WASHINGTON DC 20036 3442719 0 X WWW.MISMO.ORG X 2004 DE DEVELOP ESSENTIAL STANDARDS TO IMPROVE EFFICIENCY, REDUCE COST & IMPROVE THE MORTGAGE EXPERIENCE. 21 21 0 776 0 0 0 0 4238011 3276275 132289 166444 0 0 4370300 3442719 0 0 0 0 0 0 0 0 0 4110169 4021889 4110169 4021889 260131 -579170 4538814 3749919 1166252 929329 3372562 2820590 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. 0 1 MISMO IS THE STANDARDS DEVELOPMENT ORGANIZATION FOR THE MORTGAGE INDUSTRY AND IS THE CENTRAL POINT FOR COLLABORATION AMONG LENDERS, SERVICERS, REGULATORS, GOVERNMENT AGENCIES, INSURING AND GUARANTEEING AGENCIES, GOVERNMENT SPONSORED ENTERPRISES (GSES), AND TECHNOLOGY PROVIDERS. MISMO WAS ESTABLISHED IN 1999 AND BECAME A NOT-FOR-PROFIT SUBSIDIARY OF THE MORTGAGE BANKERS ASSOCIATION (MBA) IN 2004. MISMO DEVELOPED A COMMON LANGUAGE FOR EXCHANGING INFORMATION FOR THE MORTGAGE FINANCE INDUSTRY. EVERY RESIDENTIAL LOAN MANUFACTURED IN THE US UTILIZES 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. USE OF MISMO STANDARDS IMPROVES EFFICIENCY AND REDUCES COSTS, ENHANCES THE SEAMLESS EXCHANGE OF DATA, SYSTEM, AND TECHNOLOGY PLATFORMS, AND ACCELERATES THE INDUSTRY'S DIGITAL TRANSFORMATION. MISMO STANDARDS BENEFIT LENDERS OF EVERY SIZE AND BUSINESS MODEL. MISMO HAS THE UNIQUE ABILITY TO CONVENE INDUSTRY PARTNERS TO SOLVE KEY BUSINESS CHALLENGES. THROUGH MISMO INDUSTRY PARTICIPANTS HAVE A SEAT AT THE TABLE TO WORK COLLABORATIVELY WITH INDUSTRY PLAYERS FROM ACROSS THE MORTGAGE ECOSYSTEM INCLUDING THE GSES AND GOVERNMENT HOUSING AGENCIES AND THEIR REGULATORS TO DEVELOP STANDARDS THAT SOLVE BUSINESS, OPERATIONAL, AND TECHNOLOGICAL CHALLENGES.MISMO STANDARDS 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.MISMO MEMBERS PAY ANNUAL DUES ON A CALENDAR YEAR BASIS. SOME ORGANIZATIONS PARTICIPATE AS MISMO CHAMPIONS, A HIGHER LEVEL OF MEMBERSHIP THAT COMES WITH ADDITIONAL BENEFITS. IN FY24 MISMO MAINTAINED ITS FOCUS ON ENABLING KEY INDUSTRY IMPLEMENTATION AND TECHNOLOGY INITIATIVES. DETAILS OF SOME OF THE MANY INITIATIVES COMPLETED OR IN PROCESS ARE NOTED BELOW.MISMO PARTNERED WITH CSBS TO DEVELOP THE MORTGAGE COMPLIANCE DATASET (MCD), AN INDUSTRY STANDARD LOAN DATA FILE BRINGING CONSISTENCY TO THE EXCHANGE OF INFORMATION USED BY STATE AND OTHER REGULATORS FOR LOAN PORTFOLIO REVIEW EXAMINATIONS. LENDERS CAN ALSO USE THE MCD DATASET TO COMPLETE TESTING OF LOANS THROUGHOUT THE LOAN ORIGINATION AND POST-CLOSING PROCESS. ENHANCED THE SUITE OF INDUSTRY MISMO SMART DOC TOOLS AND RESOURCES PUBLISHING SMART DOC FREQUENTLY ASKED QUESTIONS (FAQS), COMBINING INFORMATION ABOUT THE SMART DOC V1.02 AND SMART DOC V3 SPECIFICATIONS INTO A SINGLE LOCATION FOR EASE OF USE. THE SMART DOC V1.02 IS USED INDUSTRY-WIDE FOR ENOTES. MISMO ALSO PUBLISHED AND EXPANDED A PACKAGE OF V3 SMART DOC SAMPLES. AS THE SET OF DOCUMENT SPECIFICATIONS GROW, THEY WILL BE ADDED TO THE SET OF SAMPLES. MISMO MADE SUBSTANTIAL PROGRESS BUILDING STANDARDS FOR FREQUENTLY USED INDUSTRY DOCUMENTS THAT CAN BE READILY ADOPTED TO ESTABLISH A CONSISTENT METHOD OF EXCHANGING DATA. INCLUDED IN THIS EFFORT MISMO FOCUSED ON MAPPING KEY PRE-CLOSING AND CLOSING DOCUMENTS AND THE LOAN PAYOFF REQUEST AND LETTER. A SIMILAR EFFORT WAS LAUNCHED TO CREATE DOCUMENT DATASET SPECIFICATIONS TO ALIGN WITH THE U.S. DEPARTMENT OF VETERANS AFFAIRS' LOAN GUARANTY PROGRAM FORMS. MISMO HAS BEEN AT THE FOREFRONT OF COLLABORATION AROUND THE FHFA REQUIRED GSE CREDIT SCORE REQUIREMENTS SINCE THE CHANGES WERE ANNOUNCED. WORK CONTINUED TO BUILD IMPLEMENTATION GUIDANCE TO FACILITATE INDUSTRY IMPLEMENTATION OF THE MOVE FROM CLASSIC FICO TO FICO 10T AND VANTAGESCORE 4.0 AND TO SUPPORT CREDIT MODERNIZATION EFFORTS. A COALITION OF FEDERAL HOUSING AGENCIES (VA, FHA, GNMA & USDA) BEGAN WORK WITH MISMO IN AN ACCELERATED EFFORT TO CREATE A STANDARDIZED FEDERAL HOUSING AGENCY SERVICING DATASET THAT WILL SUPPORT SERVICING LOANS FOR EACH OF THE FEDERAL HOUSING AGENCIES. THIS NEW DATA STANDARD WILL BENEFIT SERVICERS AND SERVICING TECHNOLOGY PROVIDERS BY ENHANCING INTEROPERABILITY AND REDUCING IMPLEMENTATION TIMELINES.EFFORTS CONTINUED TO PROGRESS IN 2024 TO BUILD A STANDARDIZED HOUSING COUNSELING DATASET FOR HOUSING COUNSELING AGENCIES TO EXCHANGE INFORMATION WITH THEIR LENDER PARTNERS, IMPROVING CONNECTIVITY IN THIS VITAL RELATIONSHIP.ADDITIONAL HIGHLIGHTS IN THE DEVELOPMENT OF MISMO STANDARDS IN FY24 INCLUDE: -MISMO WAS RECOGNIZED AS A HOUSINGWIRE TECH100 AWARD WINNER FOR THE THIRD IN A ROW.-MISMO CONTINUED TO EXPERIENCE SIGNIFICANT TRACTION WITH RESPECT TO ADOPTION OF THE MISMO STANDARDS. -MISMO STANDARDS 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 STANDARDS WERE USED IN THE RE-WRITE OF THE GSES UPDATED UNIFORM APPRAISAL DATASET (UAD) REQUIREMENTS AS WELL AS FOR FHA, VA, GINNIE MAE, AND USDA MODERNIZATION EFFORTS. INDUSTRY COLLABORATION AND EVENTS: INDUSTRY COLLABORATION IS A CORE FUNCTION OF MISMO. MISMO STANDARDS ARE DEVELOPED THROUGH COLLABORATION OF MORTGAGE PROFESSIONALS AND CONDUCTED USING A VOLUNTARY CONSENSUS PROCESS IN ACCORDANCE WITH GOVERNANCE PROCEDURES. INDUSTRY COLLABORATION MAY SIMPLY BE AN EXCHANGE OF INFORMATION, IDEAS, AND/OR EDUCATION AROUND A SPECIFIC TOPIC. MISMO'S 35+ WORKGROUPS (WGS) ARE SUPPORTED BY INDUSTRY CONTRIBUTORS THAT FOCUS ON SPECIFIC BUSINESS PROCESS OR TECHNICAL DOMAINS. STANDARDS ACTIVITY IS CONDUCTED BY MORTGAGE INDUSTRY CONTRIBUTORS WHO CHAIR WORKGROUPS, AUTHOR BUSINESS AND TECHNICAL DOCUMENTATION AND CONTRIBUTE THEIR EXPERTISE TOWARDS CREATING INDUSTRY STANDARDS. MISMO LAUNCHED SEVERAL NEW COLLABORATIVE WORKGROUPS AND FORUMS IN 2024 INCLUDING:-THE NEW ARTIFICIAL INTELLIGENCE (AI) COMMUNITY OF PRACTICE (COP) FOCUSES ON ISSUES RELATED TO AI IN MORTGAGE. THE INITIAL FOCUS OF THE NEW AI COP IS ON CREATING A SHARED VOCABULARY THROUGH A GLOSSARY OF MORTGAGE RELATED AI TERMS.-LAUNCHED AN AUTOMATED VALUATION MODEL (AVM) WORKGROUP THAT WILL DEVELOP A SUITE OF MISMO AVM STANDARDS TO SUPPORT THE INDUSTRY IN COMMUNICATING RISK EFFECTIVELY IMPROVING THE QUALITY OF RISK-BASED DECISIONS, ENCOURAGING AVM ADOPTION AMONG LENDERS, AND ASSISTING WITH COMPLIANCE OF THE RECENTLY PUBLISHED INTERAGENCY RULE ON QUALITY CONTROL STANDARDS FOR AUTOMATED VALUATION MODELS. -LAUNCHED THE INAUGURAL LENDER FORUM IN AUGUST 2024; A BRAND-NEW LENDER-ONLY FORUM ESTABLISHED TO ENCOURAGE AND FACILITATE LENDER COLLABORATION SPECIFIC TO BUSINESS, OPERATIONAL, AND IMPLEMENTATION ISSUES THAT CAN BE SOLVED THROUGH THE ADOPTION AND IMPLEMENTATION OF INDUSTRY STANDARDS.IN JANUARY 2024, MISMO HOSTED ITS WINTER SUMMIT IN HOUSTON, TEXAS. THE EVENT INCLUDED FOUR PRODUCTIVE DAYS FULL OF PANEL PRESENTATIONS, WORKGROUP MEETINGS, AND STRATEGIC PLANNING SESSIONS WITH ATTENDEES FROM EVERY SECTOR OF THE INDUSTRY. MISMO DEVELOPED SPECIAL PROGRAMMING FOCUSED ON GENERATIVE ARTIFICIAL INTELLIGENCE (AI) USE CASES AND DEMOS FROM ACROSS THE INDUSTRY FOLLOWED BY PRESENTATIONS COVERING THE UPCOMING REQUIRED CREDIT SCORE CHANGES; USE OF THE SMART DOC VERIFIABLE PROFILE IN TITLE AND CLOSING; DETAILS OF THE ENHANCED MISMO CERTIFICATION PROGRAM; FHFA VELOCITY TECH SPRINT; PRO-TIPS FOR UNDERSTANDING VANTAGESCORE4.0; AND ELEVATING THE CONVERSATION ON THE PAPERLESS MORTGAGE. THERE WERE WORKGROUP MEETINGS AND STRATEGIC PLANNING SESSIONS OVER THE REST OF THE WEEK. IN JUNE 2024, MISMO COHOSTED AN ARTIFICIAL INTELLIGENCE (AI) WORKSHOP," ARTIFICIAL INTELLIGENCE AND MORTGAGE: THE ART OF THE POSSIBLE" WITH THE MBA IN SAN FRANCISCO. THE SESSION WAS WELL ATTENDED AND INCLUDED SPEAKERS AND DEMONSTRATIONS FROM BIG TECH, LENDERS, TECHNOLOGY VENDORS, AND INDUSTRY SERVICE PROVIDERS. ALSO IN JUNE 2024, MISMO HOSTED ITS SPRING SUMMIT IN SAN FRANCISCO, CALIFORNIA. THE EVENT FOLLOWED OUR USUAL FOUR-DAY FORMAT WITH ATTENDEES JOINING FROM EVERY SECTOR OF THE INDUSTRY KICKING OFF WITH UPDATES FROM THE GSES, FHA, AND THE VA. WE HAD SPECIAL PROGRAMMING FOCUSED ON AI IN MORTGAGE; THE FUTURE OF SERVICING; AND MAKING YOUR ORGANIZATION MORE SECURE. PRESENTATIONS COVERED THE UPCOMING REQUIRED CREDIT SCORE CHANGES; THE NEW MISMO DATA GOVERNANCE AND MANAGEMENT RESOURCE; THE NEW MORTGAGE COMPLIANCE DATASET; AND USE OF BLOCKCHAIN IN MORTGAGE. REPRESENTATIVES FROM FANNIE MAE, FREDDIE MAC, FHA, THE U.S. DEPARTMENT OF VETERANS AFFAIRS, THE CONFERENCE OF STATE BANK SUPERVISORS (CSBS), FEDERAL HOUSING FINANCE ADMINISTRATION (FHFA), SEVERAL FEDERAL HOME LOAN BANKS (FHLBS), THE CALIFORNIA DEPARTMENT OF FINANCIAL PROTECTION AND INNOVATION WERE IN ATTENDANCE. IN ADDITION, WE ALSO HELD AN EXPLORATORY WORKING SESSION ON AUTOMATED VALUATION MODELS (AVMS).IN AUGUST 2024, MISMO HOSTED ITS FALL SUMMIT IN RESTON, VIRGINIA. THE EVENT KICKED OFF WITH GSE EXECUTIVE PERSPECTIVES ON APPRAISAL DATA QUALITY; A LEGAL PRIMER ON GEN AI IN MORTGAGE; AND A SESSION FOCUSED ON CONSIDERATIONS WHEN BRINGING GENAI INTO YOUR ORGANIZATION. WE HAD A SESSION ON HOW COMMON SECURITIZATION SOLUTIONS (CSS) IS LEVERAGING INNOVATION AND COLLABORATION TO SUPPORT THE FINANCIAL SERVICES INDUSTRY; SESSIONS ON DATA'S ROLE IN DISASTER RECOVERY; EVALUATING READINESS FOR THE FHFA REQUIRED CREDIT SCORE CHANGES; AND A SESSION ON WHAT THE MBA ECONOMISTS ARE SAYING ABOUT THE ECONOMIC OUTLOOK; PRODUCTIVITY; AND TECH SPENDING. LENDERS ATTENDING THE SUMMIT ENJOYED THE INAUGURAL MISMO LENDER FORUM OUR NEW LENDER-ONLY DISCUSSION FORUM OFFERING LENDERS A FORUM OF THEIR OWN TO DISCUSS OPERATIONAL, IMPLEMENTATION, AND TECHNOLOGY CHALLENGES THAT MIGHT CAN BE SOLVED THROUGH COLLABORATION OR STANDARDS. CERTIFICATION: MISMO EXPANDED ITS CERTIFICATION OFFERINGS INTO A SUITE OF BUSINESS AND TECHNOLOGY CERTIFICATIONS. MISMO CERTIFICATIONS SAVE LENDERS TIME AND RESOURCES BY PROVIDING A CONSISTENT ASSESSMENT OF TECHNOLOGY PROVIDER CAPABILITIES, INCLUDING INFORMATION ON WHICH TECHNOLOGY PROVIDERS COMPLY WITH APPLICABLE MISMO STANDARDS/CERTIFICATION REQUIREMENTS, ENHANCING TRANSPARENCY AND INTEROPERABILITY, REDUCING THE POTENTIAL FOR REWORK. THESE CERTIFICATIONS ALSO ALLOW TECHNOLOGY PROVIDERS AN OPPORTUNITY TO HIGHLIGHT THEIR ADHERENCE TO MISMO STANDARDS. THE NEW CERTIFICATIONS OFFERED INCLUDE THE MISMO CERTIFIED CONSULTANTS PROGRAM WHICH ALLOWS EXPERTS TO HAVE THEIR INDUSTRY DOMAIN KNOWLEDGE AND PROFICIENCY WITH MISMO STANDARDS VERIFIED; MISMO'S E-VAULT SYSTEM CERTIFICATION THAT CONFIRMS THAT AN EVAULT'S FUNCTIONALITY, PROCEDURES, AND POLICIES COMPLY WITH MISMO EVAULT STANDARDS; AND MISMO'S SMART DOC VALIDATION RULES CERTIFICATION, AVAILABLE FOR VERSIONS 1.02 AND 3.X, THAT ENSURES EACH CERTIFIED PLATFORM HAS IMPLEMENTED A STANDARD SET OF RULES TO VALIDATE SMART DOCS WHICH REDUCES INTEROPERABILITY CHALLENGES AND STREAMLINES IMPLEMENTATIONS.MISMO ANNOUNCED THE FIRST FOUR FIRMS TO RECEIVE THE DESIGNATION OF MISMO CERTIFIED CONSULTANT. THE MISMO CERTIFIED CONSULTANT PROGRAM ALLOWS SEASONED CONSULTANT COMPANIES TO DISPLAY THEIR MORTGAGE INDUSTRY DOMAIN KNOWLEDGE, EXPERTISE IN THE MISMO STANDARDS, AND THEIR COMMITMENT IN SUPPORTING THE MISMO COMMUNITY.MISMO EXCEEDED A KEY MILESTONE IN 2024 BY HAVING ISSUED MORE THAN ONE HUNDRED PROFESSIONAL CERTIFICATIONS ( ASSOCIATE MISMO STANDARDS PROFESSIONAL (AMSP) AND CERTIFIED MISMO STANDARDS PROFESSIONAL (CMSP)) SINCE THE PROGRAM'S INCEPTION. THESE INDIVIDUAL CERTIFICATIONS HELP INDUSTRY PROFESSIONALS IMPROVE THEIR MARKETABILITY, ADVANCE THEIR STANDARDS KNOWLEDGE, AND DEMONSTRATE THEIR SUBJECT MATTER EXPERTISE. 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 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 15 0 1 0 0 0 0 0 1 1 0 0 0 X 21 21 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 0 X ASTRID D VERMEER 2025572835 1919 M STREET 5TH FLOOR WASHINGTON DC 20036 JOHN HEDLUND CHAIRMAN 1.00 0.00 X X 0 0 0 SAGE NICHOLS VICE CHAIRMAN 0.50 0.00 X X 0 0 0 MICHELE BODDA BOARD MEMBER 0.50 0.00 X 0 0 0 TIM BOWLER BOARD MEMBER 0.50 0.00 X 0 0 0 LISA DORSEY BOARD MEMBER 0.50 0.00 X 0 0 0 JASON BRESSLER BOARD MEMBER (UNTIL 05/24) 0.50 0.00 X 0 0 0 TIM ELKINS BOARD MEMBER 0.50 0.00 X 0 0 0 MICHAEL FRATANTONI BOARD MEMBER 0.50 0.00 X 0 0 0 SUZANNE GARWOOD BOARD MEMBER 0.50 0.00 X 0 0 0 PATRICK HARTFORD BOARD MEMBER 0.50 0.00 X 0 0 0 MIKE HOGAN BOARD MEMBER 0.50 0.00 X 0 0 0 JERRY HALBROOK BOARD MEMBER (UNTIL 11/23) 0.50 0.00 X 0 0 0 ARAVIND JAGANNATHAN BOARD MEMBER 0.50 0.00 X 0 0 0 JEFF HURLEY BOARD MEMBER 0.50 0.00 X 0 0 0 KURT JOHNSON BOARD MEMBER 0.50 0.00 X 0 0 0 GIUSEPPE LUCIDO BOARD MEMBER 0.50 0.00 X 0 0 0 TERI PANSING BOARD MEMBER 0.50 0.00 X 0 0 0 AARON PERLIS BOARD MEMBER 0.50 0.00 X 0 0 0 STEVE POWEL BOARD MEMBER (UNTIL 12/23) 0.50 0.00 X 0 0 0 ERIC RAY BOARD MEMBER 0.50 0.00 X 0 0 0 IKE SURI BOARD MEMBER 0.50 0.00 X 0 0 0 MATT TULLY BOARD MEMBER 0.50 0.00 X 0 0 0 BRIAN D SMITH BOARD MEMBER (UNTIL 01/24) 0.50 0.00 X 0 0 0 SALLY FRENCH TYLER BOARD MEMBER (UNTIL 12/23) 0.50 0.00 X 0 0 0 CHUCK WALKER BOARD MEMBER (UNTIL 12/23) 0.50 0.00 X 0 0 0 MICHAEL WOOD BOARD MEMBER 0.50 0.00 X 0 0 0 BRIAN WOODRING BOARD MEMBER (UNTIL 12/23) 0.50 0.00 X 0 0 0 MICHAEL W BRIGGS MISMO SECRETARY (FROM 06/20/24) 1.00 34.00 X 0 396068 38642 SETH D APPLETON MISMO PRESIDENT (UNTIL 01/06/23) 35.00 0.00 X 0 24532 1335 JANIS K DAVIS MISMO VP-INDUSTRY STANDARDS 35.00 0.00 X 0 256789 30410 JONATHAN P KEARNS MISMO VP-PRODUCT DEVELOPMENT 35.00 0.00 X 0 220189 59224 DAVID A COLEMAN MISMO PRESIDENT (UNTIL 09/26/24) 35.00 0.00 X 0 240251 32985 SHELLEY W REBACK MISMO SECRETARY (UNTIL 06/19/24) 1.00 34.00 X 0 210767 30304 HEATHER D MESSAM MISMO TREASURER 1.00 34.00 X 0 226111 18638 RICHARD J HILL ACTING MISMO PRESIDENT (FROM 09/24) 17.50 17.50 X 0 0 0 0 1574707 211538 0 0 1 0 PHOENIX OVERSIGHT GROUP LLC 1005 N GLEBE ROAD ARLINGTON VA 22201 CONSULTING 520563 ACTUALIZE CONSULTING LLC 1252 CENTER HARBOUR PLACE RESTON VA 20194 CONSULTING 178700 TRUDIGITAL MORTGAGE SOLUTIONS LLC 10943 E ACTINIDIA ST TUCSON AZ 85747 CONSULTING 161786 TIDGEWELL RESULTS EXPERIENCE 21851 NEWLAND ST HUNTINGTON CA 92646 CONSULTING 136275 FALCON CAPITAL ADVISORS LLC 1001 G STREET NW STE 460W WASHINGTON DC 20001 CONSULTING 110000 5 INNOVATION INVST. FEE 900099 1420296 1420296 MEMBERSHIP DUES 900099 1074540 1074540 SPONSORSHIPS 900099 313534 313534 REGISTRATION FEES 900099 307055 307055 SOFTWARE COMPLIANCE 900099 160850 160850 3276275 166444 166444 3442719 2962741 0 479978 X 2302647 3626 17664 986928 6994 24438 19649 160246 126124 221184 99026 CREDIT CARD FEES 25602 COMMISSIONS 10963 BAD DEBT 9700 7098 4021889 413006 242486 3731523 3125074 18375 52380 92391 89600 393077 239138 156964 153939 126555 86440 4538814 3749919 236354 89069 929898 840260 1166252 929329 X 3372562 2820590 3372562 2820590 4538814 3749919 -579170 27198 0 X 0 1 X 1 0 0 1 0 393077 239138 153939 153939 3482527 27198 12610 39808 3442719 0 3442719 4034499 12610 12610 4021889 0 4021889 0 0 0 MICHAEL W BRIGGS MISMO SECRETARY (FROM 06/20/24) 0 357504 0 35000 0 3564 0 19800 0 18842 0 434710 0 0 JANIS K DAVIS MISMO VP-INDUSTRY STANDARDS 0 234354 0 20000 0 2435 0 14202 0 16208 0 287199 0 0 JONATHAN P KEARNS MISMO VP-PRODUCT DEVELOPMENT 0 206102 0 13000 0 1087 0 13320 0 45904 0 279413 0 0 DAVID A COLEMAN MISMO PRESIDENT (UNTIL 09/26/24) 0 220107 0 15000 0 5144 0 11250 0 21735 0 273236 0 0 HEATHER D MESSAM MISMO TREASURER 0 211499 0 12500 0 2112 0 12751 0 5887 0 244749 0 0 SHELLEY W REBACK MISMO SECRETARY (UNTIL 06/19/24) 0 197415 0 10431 0 2921 0 12103 0 18201 0 241071 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 3 EVAULT CERTIFICATION- THE MISMO EVAULT SYSTEM CERTIFICATION CONFIRMS THAT AN EVAULT'S FUNCTIONALITY, PROCEDURES, AND POLICIES COMPLY WITH THE MISMO EVAULT STANDARDS. THE PROCESS CONSISTS OF A REVIEW OF THE INFORMATION AND DOCUMENTATION PROVIDED WITH YOUR APPLICATION AND A DEMONSTRATION OF THE EVAULT SYSTEM. MISMO WILL REVIEW THE PROVIDED INFORMATION, DOCUMENTATION, AND DEMONSTRATION ARTIFACTS TO ENSURE COMPLIANCE WITH THE MISMO EVAULT STANDARDS. EACH ORGANIZATION CAN REMEDIATE AND RESUBMIT FOR FURTHER REVIEW BY MISMO. MISMO THEN MAKES A FINAL DETERMINATION AS TO WHETHER AN EVAULT BECOMES CERTIFIED. THE MISMO CERTIFICATION DOES NOT VERIFY COMPLIANCE WITH ANY PARTICULAR FEDERAL, STATE, COUNTY, OR OTHER GOVERNING/REGULATORY BODY LAWS, REGULATIONS, RULES, OR REQUIREMENTS. SMART DOC CERTIFICATION- THE MISMO SMART DOC VALIDATION RULES CERTIFICATION ENSURES EACH CERTIFIED PLATFORM HAS IMPLEMENTED A STANDARD SET OF RULES TO VALIDATE SMART DOCS WHICH REDUCES INTEROPERABILITY CHALLENGES AND STREAMLINES IMPLEMENTATIONS. MISMO SMART DOCS ARE CREATED IN BOTH VERSION 1.02 AND VERSION 3 OF THE MISMO STANDARDS. MISMO HAS CREATED SEPARATE CERTIFICATIONS FOR EACH. MISMO CERTIFIED CONSULTANT PROGRAM- THIS PROGRAM IS DESIGNED TO ALLOW SEASONED CONSULTANT COMPANIES THE ABILITY TO DISPLAY THEIR MORTGAGE INDUSTRY DOMAIN KNOWLEDGE, EXPERTISE IN THE MISMO STANDARDS, AND THEIR COMMITMENT IN SUPPORTING THE MISMO COMMUNITY. 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 A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE MISMO PRESIDENT AND THE MISMO VICE PRESIDENT OF OPERATIONS. IT WAS ELECTRONICALLY APPROVED BY MEMBERS OF THE MISMO BUDGET AND FINANCE COMMITTEE. THE FULL BOARD IS PROVIDED A COPY BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C IT IS MISMO'S POLICY THAT NO COVERED PARTY PARTICIPATE IN THE EVALUATION OR APPROVAL BY MISMO OF ANY CONTRACTUAL ARRANGEMENT TO WHICH MISMO MAY BECOME A PARTY IF THE COVERED PARTY'S PARTICIPATION WOULD CREATE AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST. MISMO'S CONFLICTS POLICY WILL BE CONTINOUSLY MONITORED BY THE BOARD OF DIRECTORS ON AN ONGOING BASIS FOR COMPLIANCE WITH THE POLICY AND REQUIRES ANNUAL DISCLOSURE TO THE MBA GENERAL COUNSEL AND SECRETARY OF "CONFLICTS OF INTEREST" DEFINED AS A SITUATION IN WHICH A COVERED PARTY WOULD PARTICIPATE IN THE EVALUATION OR APPROVAL BY MISMO OF ANY CONTRACTUAL ARRANGEMENT TO WHICH MISMO MAY BECOME A PARTY, IF SUCH INDIVIDUAL, OR SUCH INDIVIDUAL'S EMPLOYER, WOULD OBTAIN MORE THAN AN INSIGNIFICANT FINANCIAL BENEFIT, EITHER DIRECTLY OR INDIRECTLY. "COVERED PARTY" MEANS A MEMBER OF THE MISMO BOARD OF DIRECTORS OR A MEMBER OF THE BOARD COMMITTEE OR BOARD TASK FORCE THAT MAY BOTH (I) RECOMMEND ENTERING INTO CONTRACTS AND (II) PLAY A ROLE IN VENDOR REVIEW AND SELECTION. MOREOVER, COVERED PARTIES ARE SUPPOSED TO UPDATE THEIR DISCLOSURES AS CIRCUMSTANCES WARRANT AND PROVIDE THEM TO THE MBA GENERAL COUNSEL AND SECRETARY. THE DISINTERESTED MEMBERS OF THE EXECUTIVE COMMITTEE OF THE MISMO BOARD OF DIRECTORS SHALL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS OR BEHAVIOR IN CONFLICT WITH THIS POLICY HAS OCCURRED, AND WHAT SUBSEQUENT ACTION IS APPROPRIATE (IF ANY) AND ITS DECISION WILL BE FINAL, EXCEPT AS FOLLOWS. THE EXECUTIVE COMMITTEE SHALL INFORM THE FULL BOARD OF DIRECTORS OF ANY DISAGREEMENT BETWEEN THE EXECUTIVE COMMITTEE AND THE DISCLOSING DIRECTOR AS TO ITS DETERMINATION THAT A CONFLICT OF INTEREST, OR BEHAVIOR IN CONFLICT OF THE POLICY, EXISTS AND ANY RECOMMENDED ACTION. THE BOARD SHALL RETAIN THE RIGHT TO MODIFY OR REVERSE THE EXECUTIVE COMMITTEE'S DETERMINATIONS IN THIS CONTEXT. THE CONFLICTS OF INTEREST POLICY ALSO ADDRESSES CONFIDENTIALITY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION FOLLOWS THE PROCESS MBA HR HAS IN PLACE FOR HIRING. THIS INCLUDES USE OF COMPS; REVIEW OF HIRING AND COMP DECISIONS BY HR; AND DECISIONS WERE ALL APPROVED BY THE PRESIDENT OF MISMO. 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 IX, LINE 11G PROGRAM CONSULTANTS 986,928. MORTGAGE BANKERS ASSOCIATION 1919 M STREET NW 5TH FL WASHINGTON DC 20036 361505650 REPRESENTS THE LEGISLATIVE AND REGULATORY INTERESTS OF THE FINANCE INDUSTRY IL 501(C)(6) 0 RESEARCH INSTITUTE FOR HOUSING AMERICA TRUST 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) LINE 12A TYPE I 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) LINE 7 MORTGAGE BANKERS ASSOCIATION 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 MORTGAGE BANKERS ASSOCIATION M 2271579 CONTRACTUAL FEE MORTGAGE BANKERS ASSOCIATION P 167370 ACTUAL EXPENDITURES MORTGAGE BANKERS ASSOCIATION Q 900765 REIMB. FOR CREDIT CARD RECEIPTS SCHEDULE R PART V LINE 1O SHARING OF PAID EMPLOYEES IS INCLUDED IN THE AMOUNT FOR LINE 1M.