MISMO Seeks Input on Emerging Technologies
MISMO®, the mortgage industry’s standards organization, seeks participants to help identify and monitor emerging technologies that could have a significant impact on the mortgage business.
By joining the Emerging Technologies Community of Practice, participants will gain early insights into new innovations as well as opportunities to collaborate on related initiatives for the betterment of the mortgage industry.
“The new group will help the industry take a proactive approach to new technologies,” said Rick Hill, Executive Vice President of MISMO and MBA Vice President of Industry Technology. “With the accelerating pace of new technologies, the group’s forward looking approach is intended to help companies realize the full benefit of new innovations more rapidly. Our new community of practice is designed to keep MISMO ahead of the curve, so we will be better able to support the needs of our members and the mortgage community at large.”
The Emerging Technologies Community of Practice will facilitate ongoing conversations about emerging technologies and their potential impact on the mortgage industry as well as assessing the need for related standards. Participants will also develop a mechanism for sharing information about emerging technologies more broadly across the industry.
“By proactively keeping a close eye on new and emerging technologies we position MISMO to better serve the industry as a whole, and in turn, the consumers we assist every day.” said Josh Koppang, Team Leader at Nexsys Technologies. “By joining MISMO’s new Emerging Technologies Community of Practice, we will all be able to get a bird’s eye view of the technology landscape and have the opportunity to identify and take advantage of the next big innovation.”
All mortgage industry participants, including lenders, software vendors, third-party service providers and public agencies, are invited to participate in the new workgroup, whether they are a member of MISMO or not. However, only MISMO members will vote on approving any standards or other products and services generating from the new workgroup.
Industry executives who wish to participate in this collaborative, industry-wide effort should send an email titled “Join MISMO Emerging Technologies Community” to info@mismo.org by August 24. More information is available at http://www.mismo.org/get-started/participate-in-a-mismo-workgroup/emerging-technologies.
About MISMO
The Mortgage Industry Standards Maintenance Organization was created in 1999 to develop a common data language for the mortgage finance industry. Today, 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 GSEs that govern the exchange of information. Use of MISMO’s standards has been found to lower per loan costs, improve margins, reduce errors and speed up the loan process by reducing manual, paper-based processes. MISMO is managed by the Mortgage Bankers Association. For more information, visit www.mismo.org.
