WASHINGTON, D.C. (February 19, 2019) — (RealEstateRama) — The Mortgage Bankers Association (MBA), parent corporation of MISMO, the mortgage industry’s standards organization, announced today the appointments of seven new members and a new chairperson to the MISMO Board of Directors.
“This is a critical time for the mortgage industry, as many lenders are making substantial investments in technology to improve efficiency and improve the borrower experience. MISMO supports the industry by developing standards that help participants exchange data more easily. At a time of increasing importance for MISMO’s mission, we are delighted to welcome such accomplished and forward-thinking mortgage experts to the MISMO board,” said Mike Fratantoni, President of MISMO, and Senior Vice President and Chief Economist of MBA. “As MISMO continues to help mortgage lenders solve their most difficult challenges, I am confident that our new board members will provide key insights in setting priorities for the years ahead.”
The new directors are:
- Prabhakar Bhogaraju, Vice President, Digital Shared Services, Single Family Business, Fannie Mae
- Eric Kaplan, Director of the Housing Finance Program, Milken Institute
- Christopher McEntee, President ICE Mortgage Services, ICE
- Sam Oliver, Vice President Loan Advisor Suite, Freddie Mac
- Steven Smith, Co-founder and CEO, Finicity
- Kevin VanHowe, Chief Data Officer, Quicken Loans
Kurt Pfotenhauer, Vice Chairman at First American Financial Corporation, has been appointed board chair. Pfotenhauer has more than 25 years of financial services and political experience. He previously served as CEO of the American Land Title Association, Senior Vice President of Government Affairs for the MBA and Chairman of MERSCORP, which owns and operates the MERS system that tracks U.S. mortgage servicing rights and ownership.
An additional seat was added to the MISMO board to account for the organization’s increasing size and influence. MISMO recently surpassed 180 members, a record high, and currently manages more than 20 different workgroups and communities of practice involving private label RMBS, closing instructions, eMortgages, remote online notarizations, blockchain, commercial rent rolls and appraisals and more.
MISMO board members represent a cross-section of the residential and commercial real estate finance industry. Board members are responsible for providing oversight over MISMO’s activities and serve two-year terms. MBA appoints all directors and chairpersons. MISMO committee chairs serve as ex-officio representatives on the MISMO board.
There are a total of 14 voting board members, with one seat currently vacant. The six other active members include Fratantoni, Pete Carroll, Executive of Public Policy and Industry Relations, CoreLogic; Andy Crisenbery, Senior Vice President and Managing Director, Lending Solutions, Black Knight; Ken Rivkin, Managing Principal, Hermes Financial Management; Donald Smith, Executive Vice President and CIO, Common Securitization Solutions; and Caroline Watteeuw, a mortgage industry executive.
Nancy Alley, Bill Beckmann, Robert D’Urbano, Michelle Korsmo, Tricia McClung and Joe Tyrrell completed their service on the MISMO Board of Directors.
“I would like to thank Nancy, Bill, Robert, Michelle, Tricia and Joe for their many contributions to MISMO over the years,” said Pfotenhauer. “Their efforts to prepare the organization to evolve with the standards to support our ever-expanding industry needs have been significant.”