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MISMO General Session January 14, 2008

MISMO General Session January 14, 2008. Ron Duff, 2007-08 Governance Committee Chair Nancee Gorenstein, 2007-08 Governance Committee Vice-Chair. Agenda. Welcome and IPR Statement Organization Review 2008 Governance Priorities 2007/2008 Standards Activities MISMO Infrastructure Update

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MISMO General Session January 14, 2008

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  1. MISMO General Session January 14, 2008 Ron Duff, 2007-08 Governance Committee Chair Nancee Gorenstein, 2007-08 Governance Committee Vice-Chair

  2. Agenda • Welcome and IPR Statement • Organization Review • 2008 Governance Priorities • 2007/2008 Standards Activities • MISMO Infrastructure Update • January 2008 Trimester Activities

  3. IPR and Antitrust Policies • By participating in this meeting you are agreeing to be bound by MISMO’s IPR (Intellectual Property Rights) policy which can be found at www.mismo.org • All meetings are conducted in accordance with MISMO’s Antitrust Policy

  4. Organization Review

  5. Board of Directors Commercial Governance Steering Committee eMortgage Origination Architecture Servicing LDD Core Data Council of Chairs Document Classification Enveloping CMSA IRP Commercial Architecture Appraisal Information Security Insurance SISAC Logical Data Dictionary Property Inspection Core Data Structures Environmental & PCA Reports CMSA Residential Process Area Workgroups Government Origination Real Estate Services eMortgage Secondary Government Housing Servicing Technical Infrastructure Underwriting Flood Hazard Tax Credit Document Classification Industry Guidance Mortgage App MI Real Estate Property Information Doc / Data Mapping Fraud Detection Business Rules Exchange Data Transactions Closing Multi-Services Title Legal Appraisal Institute ALTA SPeRS PRIA MISMO Organization

  6. MISMO Board of Directors • MISMO is a wholly-owned subsidiary of the Mortgage Bankers Association – a 501(c)6 corporation • Board of Directors • Catherine Rodewald, Managing Director, Prudential Capital (Chair) • Bill Frazer, SVP, CBRE | Melody • Dawn Gibbs, CEO FICS • Steve Gozdan, CFO/COO Cenlar FSB • (Open Seat - Residential) • Jim Cooke (Ex-Officio, Governance Representative)

  7. BoD Strategic Objectives • Regain Securitization Market • Improve Data Quality • Improve Data Purity

  8. MISMO Governance Committee • 24 Representatives Elected by Subscriber Companies • 16 from Residential Mortgage Industry • 4 Lenders/Brokers • 2 Servicing Technology • 2 Origination Technology • 1 Mortgage Insurance Company • 1 Credit Company • 2 Technology Vendors • 2 Service Providers • 2 Government Sponsored Enterprises (GSEs) • 4 from Commercial (MultiFamily) Mortgage Industry • 2 Primary Market Participants • 1 Investor • 1 Vendor • 2 At-Large

  9. RESIDENTIAL Lenders/Brokers GMAC Rescap-Dave Erkes Quicken Loans-Patrick Hartford Wells Fargo-Michael Levine Servicing Technology Fiserv-Ron Duff Fidelity (FNIS)-Randy Gillis Origination Technology Gallagher Financial Services-Chris Anderson, Dynatek-Todd Luhtanen Mortgage Insurance Company MGIC-Nancee Gorenstein Credit Company Equifax Mortgage Services-Paul Wills Technology Vendors Wolters Kluwer Financial Services-Roger Gudobba Dexma-Gretchen Peterson Service Providers First American Real Estate Services-Tom Payne American Land Title Association-Kelly Romeo GSEs Freddie Mac-Ted Adams- Fannie Mae-David Coleman- 2008-09 Governance Committee

  10. COMMERCIAL Primary Market Participants Midland Loan Services-Robert Wright Wendy Sadeh, Bridger Commercial Funding Secondary Market Investor Babson Capital Management-Joanne Denver Vendor Jim Cooke, Ballard Spahr Andrews & Ingersoll, LLP AT-LARGE MERS-Dan McLaughlin Mortgage Cadence-Gabe Minton 2008-09 Governance Committee

  11. Council of Chairs • Formed in January, 2006 • Maturity and increased adoption create need for collaboration and process • One member from each MISMO WG • Work Request Guidelines/Tracking • Discuss collaborative issues

  12. XML Architecture-Dave Krause Core Data/Structures-Ted Adams Enveloping-Pritish Jacob Origination-Denise Lawrence Secondary-Mark Friend Servicing-Mark Friend Multi-Services-Eric Mayling Credit Reporting-Paul Wills Flood-Beth Martel Fraud Detection-Ruth Eller Hazard Detection-Dick Taylor Mortgage Insurance-Mike Fleck REPI-John Cirincione Tax-Diane Columbo Title Insurance-Charles Epperson Business Rules-John Liston Doc Class-Rick Moseley eMCIT-Rachel Sokolowski Info Security-John Simon eMortgage-Patrick Hartford Government Housing-Dan Kahn 2007-08 Council of Chairs

  13. MISMO Subscribers • 148 Subscriber Companies (as of 01/09/08) • Have access to current and archived information on MISMO website • Have username and password access to private workgroup areas of team collaboration website (using Microsoft SharePoint technology) • Can vote on key issues & leadership • Are waived meeting fees for the trimester meetings • May be elected to a seat on the Governance Committee, serve as Workgroup Chairs, etc.

  14. MISMO Staff • Doug Duncan, President • Dan Szparaga, Acting Executive Vice President • Harry Gardner, Vice President • Malikah Crable, Subscriptions & Events • Dave Krause, Director, Architecture & MXCompliance • RJ Schlecht, Director, Information Security • Colleen Wesling, Director, MISMO Programs • Gloria Zimmer, Director, MISMO Standards

  15. 2008 Governance Priorities

  16. 2008 Focus • Focus for 2008 remains in three core areas: • Organization: enhance the organization to align with the subscriber base and their business priorities and goals • Standards: continue to maintain existing standards but focus on the release of standards in the 3.0 architecture • Adoption: attain greater adoption of the MISMO standards within the industry

  17. 2008 Priorities - Organization • Organizational Subgroup Ensures that the operation and structure of the organization is aligned to its overall goals and positioned to support the work of its volunteers • High Level Goals • Implement common project methodology to be used by the organization (including all workgroups) including the revised work request and status reporting framework via MISMO WIKI • Review and revise as necessary the job descriptions for Governance members, Work Group chairs, and participants. Focus will be roles and responsibilities • Continue to enhance the role of the Council of Chairs • Ensure Face-to-Face Trimester Meeting structure maximizes volunteer time/effort

  18. 2008 Priorities - Standards • Begin execution of the 3.0 plan • Complete “reference model” that holds all transactions together, finish reconciliation 1 • Finalize the 3.0 architecture • Develop plan for transaction delivery from workgroups • Define, finalize and implement deliverable requirements for standards approval process • Expand eMortgage standards and utilization • Support the expansion of eMortgage standards and utilization • Focus on adoption

  19. 2008 Priorities - Adoption • Increase MXCompliance Certifications • Increase transaction set that has certification • Communicate the value to the industry • Increase compliance and adoption through RFP process • Develop Outreach Program • Variable communication plan based on targeted audience message points re: MISMO • Participation • Membership • Adoption • Etc….

  20. 2007/08 Standards Activities

  21. MISMO Standards Approved in 2007 • Credit Reporting v2.4 (January) • Credit Reissue Reporting Recommendation (March) • ISWG Whitepaper (January) • Identifying and Safeguarding Personal Information • eMortgage Specifications • eSigned PDF Guidelines v1.0 (February) • eMortgage Package v2.4 (February/Errata - April) • Errata Releases • AUS v2.4 Errata (April) • Enveloping v2.4 Errata (June) • Closing v2.4 Errata (April) • REPI Valuation Request v2.4 (May)

  22. MISMO Approved Standards and 30-day IPR Status • Commercial Standards – Version 1.1 (May) • Commercial Environmental Site Assessment ESA_Synopsis v1.1 • Commercial Work Order Request and Response v1.1 (WORR) • Commercial Document Classification v1.1 • URLA Mapping to MISMO Closing v2.4 • PRIA Request and Response v2.4.2 (http://www.pria.us/ ) • Credit Reporting v2.4.1 (30-day IPR period)

  23. Commercial MISMO Activities Version 1.2 Releases – February 2008 • Commercial Environmental & PCA Reports • PCA Synopsis, Seismic Synopsis, Work Order Request (WORR) • CMSA Investor Reporting Package (IRP) • Servicing Transfer Core Transaction v1.1 • Commercial eMortgage Whitepaper • (Digital Signature Requirements for Commercial Entities) • Commercial Architecture Best Practices Guide v1.1 • Commercial Originations- Rent Rolls and Lease Abstracts

  24. MISMO Infrastructure Update

  25. MISMO Infrastructure Support • New Web site live since September • Lyris listserv • 45 Listservs with over 2500 active participants • SharePoint • User accounts available for MISMO subscribers • Contivo VMS Repository and Builder Pro • Adobe Breeze/Connect Web Sharing • Wiki Collaboration Platform

  26. MXCompliance • Certifications available • Credit Request and Response • MI Application Request and Response • AUS • Flood Request and Response • Fourteen companies are certified with forty-one certifications awarded • More workgroups in process of submitting certification requirements

  27. Associated Software Consultants (ASC)* Axcess Americas, LLC* Bixby Consulting, Inc.* Dexma, Inc.* Digital Matrix Systems Dynatek* Fair Isaac Corporation * Multiple Certifications FICS* First American Flood Data Services * Fiserv Lending Solutions* Gallagher Financial Systems* iLOG, Inc.* Merge Power, Inc. Mortgage Guaranty Insurance Corporation* MXCompliance Certifications Update

  28. Security Activities Risk mitigation techniques for Appraiser authentication and appraisal integrity. Security recommendation for messaging protocol (WS SOAP) Monitor Federal and State privacy legislation & regulations Industry Compliance education; Pay Card Industry Data Security Standards (PCI/DSS) Secure Identity Standardization (SISAC) related to MERS eRegistry and National Notary Association (NNA)

  29. Related Industry Standards Efforts SISAC—RJ Schlecht Secure Identity Services Accreditation Corporation PRIA—Mark Ladd Property Records Industry Association NAR/RETS—Paul Stusiak National Association of Realtors Real Estate Transaction Standards Appraisal Institute—John Cirincione

  30. January 2008 Trimester Activities

  31. eMortgage Current Efforts • Published Whitepaper • Updated SMART Doc 2.0 • Updated Documentation (eMortgage Guide, Closing Guide, and Vaulting Guide) • Created Links to eRecording and eNotarization Standards through PRIA • Sent Survey out to Industry Leaders

  32. Workgroup Activities • XML Architecture-Dave Krause • Core Data Structures-Ted Adams • Enveloping (Transport and Routing)-Pritish Jacob • eMCIT (Packaging)-Rachael Sokolowski • Information Security-John Simon • Document Classification-Rick Moseley • Origination-Denise Lawrence • Automated Underwriting & Closing

  33. Workgroup Activities, Cont’d • Real Estate Services: • Credit-Paul Wills/ Mike Bixby • Flood-Beth Martel • Fraud Detection-Ruth Eller/ Bill Parker • Mortgage Insurance-Mike Fleck • Property Records-Mark Ladd • Real Estate Property Information-John Cirincione • Real Estate Tax-Diane Columbo • Title-Charles Epperson • Multi-Services-Eric Mayling

  34. Workgroup Activities, Cont’d • Secondary-Mark Friend • Servicing-Mark Friend • Business Rules Exchange (BREW)-John Liston • Government Housing-Dan Kahn

  35. Sponsor Program

  36. Thanks to our 2008 Sponsors FiServ Lending Solutions

  37. JANUARY 2007 First American Corporation FICS Wells Fargo Home Mortgage MAY 2007 Fannie Mae Freddie Mac Wells Fargo Home Mortgage PRIA SEPTEMBER 2007 Midland Loan Services, Inc. Stewart Transaction Solutions Mortgage Cadence Encomia, LP SPECIAL EVENTS Document Systems, Inc. IndyMac Bank MISMO Salutes its 2007 Sponsors

  38. MISMO Sponsorship Update • MISMO sponsorship opportunities include five levels* (and Selected Individual Events) • Gold . . . . . . . . . . $ 10,000 • Silver . . . . . . . $ 5,000 • Bronze . . . . . . . . $ 2,500 • Contributing . . . .$ 1,000 • Single Event . . . . As Arranged *Other denominations are gratefully accepted. Please contact MISMO for more specific information.

  39. Upcoming MISMO Meetings • May 19-22, 2008, Minneapolis, MN (Tentative) • September, 2008, Location TBD Contact Malikah Crable at MBA mcrable@mortgagebankers.org

  40. Questions?

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