MISMO® September Trimester Opening Session

September 15, 2008Radisson Fort McDowellScottsdale, AZ

Agenda Welcome, Introductions, IPR MBA Technology Committees New MISMO Organization

Board of Directors Governance Committees Residential Council of Chairs MBA/MISMO Staff

Technology and the Industry September Trimester Workgroup Objectives

Architecture Core Data/Structures Industry Workgroups

Questions/Comments

Welcome and Introductions

Antitrust and IPR Policy: 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

MBA Technology Committees

MBA BoD

BoDTech

Provide Strategic Guidance to MBA Board

Policy Recommendations

MISMO, Inc.

Openly-developed and Vendor-Neutral Industry

Data & eMortgage Standards

BoDTech Oversees

MISMO Activities through Reports from

MISMO Board

SISAC, Inc.

Secure Identity for Electronic Transactions

for the Mortgage and Financial Services

Industries

BoDTech Serves as the Interim SISAC Board, and Directly Oversees SISAC

Activity

COMBOG

Commercial Industry Governance

CommTech Committee · Commercial Tech Issues· MISMO and eMortgage Adoption· Surveys· Conferences

RESBOG

Residential Industry Governance

ResTech Committee

· Residential Technology Issues· MISMO and eMortgage Adoption· Surveys· Conferences

Governance Governance

Architecture ArchitectureChair Co-Chair

Vice Chair Co-Chair

Board of Directors

Core Data/ Structures

Core Data/ Structures

Special AreaWorkgroups

Process AreaWorkgroups

Process AreaWorkgroups

Special AreaWorkgroups

Residential

MBA BoDTech Committee

Commercial

MISMO Officers(MBA Staff)

New MISMO Organization

MISMO Board of Directors

MISMO is a wholly-owned subsidiary of the Mortgage Bankers Association – a 501(c)6 corporation

Board of Directors Stephen Gozdan, Cenlar FSB--Chair Bill Frazer, CBRE | Melody Dawn Gibbs, CEO FICS JT “Thomas” Richardson, Bank of America Corp. Catherine Rodewald, Prudential Mortgage Capital Co. Jim Cooke, Ballard Spahr Andrews & Ingersoll, LLP (Ex Officio,

Commercial GC Representative) TBD (ExOfficio, Residential GC Representative)

2008-09 Residential Governance Committee

At-Large MERS - Dan McLaughlin Mortgage Cadence - Gabe Minton

Credit Company Equifax Mortgage Svcs - Paul Wills

GSEs Freddie Mac - Ted Adams Fannie Mae - David Coleman

Lenders/Brokers GMAC ResCap - Dave Erkes Quicken Loans - Patrick Hartford Wells Fargo - Michael Levine Open

Mortgage Insurance Company MGIC - Nancee Gorenstein, Vice

Chair

Technology Vendors Wolters Kluwer Financial Services -

Abdias Lira Dexma - Gretchen Peterson

Service Providers First American Real Estate Services

- Tom Payne American Land Title Association -

Kelly Romeo Servicing Technology

Fiserv - Ron Duff, Chair Fidelity (FNIS) - Randy Gillis

Origination Technology WiPro Gallagher Financial Services

- Chris Anderson ISGN - Todd Luhtanen

2008-09 Commercial Governance Committee

Primary Market Participants Midland Loan Services - Robert Wright Bridger Commercial Funding - Wendy Sadeh

Secondary Market Investor Babson Capital Management - Joanne Denver

Vendor Ballard Spahr Andrews & Ingersoll, LLP - Jim Cooke, Chair

Service Provider New seat - To be elected this year

At-Large New seat - To be elected this year

MISMO Residential WorkgroupsWorkgroup Chair Vice Chair MISMO Staff

Architecture Dave Krause Greg Alvord, Chief Architect

Dave Krause

Core Data/Structures Ted Adams Mike Bixby Dave Krause

BREW John Liston Open Gloria Zimmer

Credit Reporting Paul Wills Mike Bixby Colleen Flaxington

Doc Classification Rick Mosely Pat Ditlevson Colleen Flaxington

eMortgage Patrick Hartford Abdias Lira Harry Gardner

Flood Beth Martel Rob Allen RJ Schlecht

Fraud Igor Katic Denise James RJ Schlecht

Govt Housing Dan Kahn Bonnie McCloskey Colleen Flaxington

Interface Architecture

Rachael Sokolowski

OpenRJ Schlecht

MISMO Residential Workgroups, Cont’d

Workgroup Chair Vice Chair MISMO Staff

Info Security Dick Taylor Cynthia Watson RJ SchlechtMortgage Insurance Mike Fleck Nancee Gorenstein Colleen Flaxington

Multi-Services Eric Mayling Open RJ Schlecht

Origination Denise Lawrence Chris Ulbright Colleen Flaxington

Property & Valuation Svcs

Rob Frazier John CirincioneMark Ladd, PRIA

Colleen Flaxington

Secondary Mark Friend Open G. Zimmer/C. Flaxington

Servicing Mark Friend Open Gloria Zimmer

Real Estate Tax Denise Jones Gretchen Peterson Gloria Zimmer

Title Insurance Charles Epperson

Eric MaylingKelly Romeo, ALTA

RJ Schlecht

MISMO StaffStaff Member MBA Position MISMO Role

Jan Sternin Sr.  VP,  Commercial  Real Estate/Multifamily  Finance

Chief Executive Officer

Harry Gardner VP, Industry Technology President

Dan Szparaga Assoc.VP,  Commercial  Industry  Technology

Executive Vice President

Malikah Crable Senior Commercial/ Multifamily Assistant

Subscriptions & Events

Colleen Flaxington

Director, MISMO Programs Program Administration, Board, GC, & CoC Support

Dave Krause Director, Architecture & MXCompliance

Resi AWG Chair, Comm AWG Co-Chair, MXC Administrator

RJ Schlecht Director, Information Security

ISWG Chair, CoC Co-Chair, SISAC Administrator

Gloria Zimmer Director, MISMO Standards Liaison to External Orgs, Comm. Stds. Tech Support

Technology & the Industry

Industry challenges are well-known and evolving daily Technology and standards are critical to the solutions:

Enterprise data management Information transparency Fighting industry fraud Restoring liquidity in the investor markets Identifying, tracking and reporting on loan data throughout

the lifecycle - unique loan identification number (MIN) Version 3.0 Reference Model provides the foundation

for all of these

MISMO has never been more important to the industry!

September Trimester Workgroup Objectives

Architecture WG Objectives

Mon: Version 3.0 Architecture Overview Working with the Demonstration Examples and the

Reference Model XLink and Relationships Plural Containers and the Reference Model Origination and Secondary/Service Needs and the v3.0

Design Organization of LOAN focusing on PRODUCT and ARM Reusable Structures and their Impact on the Logical Data

Dictionary

Tues-Weds: MISMO Architect Greg Alvord will be available to all WGs for questions

Architecture WG Objectives, Cont’d

Thurs morning: Working with PACKAGE, SOAP, SMART Doc and MISMO Standards PACKAGE: Structure and Component Functions PACKAGE and DEAL with Origination and Secondary/Servicing

messages PACKAGE and DEAL with Verb/Noun Pairs SOAP Protocols and MISMO Messages SMART Doc v3 and MISMO Version 3.0

Thurs afternoon: Wrap Up and Planning the Completion of Milestone 3 activities

Core Data/Structures WG Objectives

Weds morning: Representatives of each WG meet to report and briefly discuss outstanding issues identified during individual WG meetings Collect, Discuss, and Resolve All Outstanding Issues

with the v3.0 Model Approve Shared and Reusable Structures Integrate New Data Elements in the Model

Industry Workgroup Objectives

Tues and Weds: Review and Provide Feedback on Demonstration Examples and Reference Model Ensure structure:

Addresses necessary business case(s) Includes all data points needed for messages

Collect All Issues with Demonstration Examples and Reference Model to Present during Core Data/Structures Session on Weds morning

Generate and Describe Changes Needed to Meet Specific Business Cases or Approve

Plan Remaining Milestone 3 Activities Final Approval of Structure Development of Implementation Guides Creation of MX Compliance Test Guides

eMortgage Workgroup

Weds morning: Review and Approve Two Documents

eRecordable Documents Use Case eNotarization Business Requirements

SMART Doc 3.0 Samples & Schema Weds afternoon: SMART Doc 3.0 Specification

Thurs morning (parallel sessions): Joint meeting with AWG eMortgage Adoption Task Force

Thurs afternoon: Review / Discuss AWG joint meeting results eSignature / eNotarization data points discussion w/PRIA

Questions and Comments