The transition of the management of the Mortgage Industry Standards Maintenance Organization (MISMO) from MERS to the Mortgage Bankers Association (MBA) has been completed, the MBA reports.
With the transition, which was originally announced in September, now complete, MISMO will focus on advocating for broader adoption of data standards throughout the industry, the MBA says. To support these efforts, the association has hired Cindy Bojokles as its director of industry standards. In her new role, Bojokles is responsible for advancing the activities of MISMO and educating government agencies about the benefits of adopting the voluntary consensus standards developed by MISMO.
In a statement, MBA President and CEO David H. Stevens said MISMO plays a "crucial role" in fostering industry standardization and transparency.
‘MBA supports greater efficiency and lower costs throughout the industry by advocating for broad adoption of industry consensus standards developed by MISMO," Stevens said. "We are actively engaging both regulators and industry in this effort."