MBA Announces Completion of MISMO Transition

WASHINGTON, DC – December 5, 2011 – (RealEstateRama) — The Mortgage Bankers Association (MBA) today announced it has completed the transition, announced in September, and will resume support for the Mortgage Industry Standards Maintenance Organization, Inc. (MISMO®). With the successful transition, MISMO will now focus efforts on regulatory implementation and advocating for broader adoption of data standards throughout the industry.

“MBA supports greater efficiency and lower costs throughout  the industry by advocating for broad adoption of industry consensus standards developed by MISMO.  We are actively engaging both regulators and industry in this effort,” said MBA President and CEO David H. Stevens. “MBA will also  provide educational opportunities aimed at helping industry and government better understand and implement MISMO standards. Standardization and transparency are critical to the return of investor confidence and liquidity in the mortgage marketplace, and MISMO has a crucial role to play.  I would recommend that MBA members become MISMO subscribers in order to help guide this effort.”

To assist with these efforts, MBA has hired Cindy Bojokles to be its Director of Industry Standards. In this role, Bojokles is responsible for supporting and advancing the activities of MISMO.  Bojokles will work closely with industry executives to increase the standards available to the industry.  Bojokles will also help government agencies understand the benefits of adopting the voluntary consensus standards developed by MISMO.

“Cindy has spent over 15 years working on data standards, data quality and business solutions for the mortgage industry.  Her detailed knowledge of technology and business processes will prove invaluable to MBA and the mortgage industry as it continues to advance MISMO and industry standards,” said Stevens.

More information can be found on the MISMO website, www.mismo.org.

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The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBA’s Web site:  www.mortgagebankers.org.

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The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,400 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.

Contact:

Mortgage Bankers Association
1331 L Street, NW
Washington, DC 20005

Phone: (202) 557-2700

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