2026-08-14T13:16:19-05:00 2025-09-30 410746749 CLIFTONLARSONALLEN LLP 950 NORTH GLEBE ROAD SUITE 1200 ARLINGTON VA 22203 990 2024-10-01 510502943 MORTGAGE INDUSTRY STANDARDS MAINTENANCE ORGANIZATION INC MORT 2025572700 1919 M STREET 5TH FL WASHINGTON DC 20036 ALEXANDRA BRINTON VICE PRESIDENT & CFO 2025572700 2026-08-14 1 1 CHICHI MSANGI P01972113 5712279500 2026-08-03 2024 2025-03-06 01:10:19Z BRIAN VIEAUX 1919 M STREET 5TH FL WASHINGTON DC 20036 3280224 0 X WWW.MISMO.ORG X 2004 DE DEVELOP ESSENTIAL STANDARDS TO IMPROVE EFFICIENCY, REDUCE COST & IMPROVE THE MORTGAGE EXPERIENCE. 20 20 0 800 0 0 0 0 3276275 3083951 166444 140134 0 56139 3442719 3280224 0 0 0 0 0 0 0 0 0 4021889 3665181 4021889 3665181 -579170 -384957 3749919 3866989 929329 1444171 2820590 2422818 X TO DRIVE STANDARDIZED DATA AND INFORMATION AND IMPROVED BUSINESS PRACTICES BETWEEN ALL MORTGAGE STAKEHOLDERS THROUGH COLLABORATIVE AND INNOVATIVE INITIATIVES THAT IMPROVE EFFICIENCY, REDUCE COSTS AND FACILITATE STAKEHOLDER SUCCESS. 0 0 MISMO IS THE STANDARDS DEVELOPMENT ORGANIZATION FOR THE MORTGAGE INDUSTRY AND IS THE CENTRAL POINT FOR COLLABORATION AMONG LENDERS, SERVICERS, REGULATORS, GOVERNMENT AGENCIES, INSURING AND GUARANTEEING AGENCIES, GOVERNMENT SPONSORED ENTERPRISES (GSES), AND TECHNOLOGY PROVIDERS. MISMO WAS ESTABLISHED IN 1999 AND BECAME A NOT-FOR-PROFIT SUBSIDIARY OF THE MORTGAGE BANKERS ASSOCIATION (MBA) IN 2004. MISMO DEVELOPED A COMMON LANGUAGE FOR EXCHANGING INFORMATION FOR THE MORTGAGE FINANCE INDUSTRY. EVERY RESIDENTIAL LOAN MANUFACTURED IN THE US UTILIZES MISMO STANDARDS. 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 THE GSES THAT PARTICIPATE IN THE INDUSTRY. USE OF MISMO STANDARDS IMPROVES EFFICIENCY AND REDUCES COSTS, ENHANCES THE SEAMLESS EXCHANGE OF DATA, SYSTEM, AND TECHNOLOGY PLATFORMS, AND ACCELERATES THE INDUSTRY'S DIGITAL TRANSFORMATION. MISMO STANDARDS BENEFIT LENDERS OF EVERY SIZE AND BUSINESS MODEL. MISMO HAS THE UNIQUE ABILITY TO CONVENE INDUSTRY PARTNERS TO SOLVE KEY BUSINESS CHALLENGES. THROUGH MISMO INDUSTRY PARTICIPANTS HAVE A SEAT AT THE TABLE TO WORK COLLABORATIVELY WITH INDUSTRY PLAYERS FROM ACROSS THE MORTGAGE ECOSYSTEM INCLUDING THE GSES AND GOVERNMENT HOUSING AGENCIES AND THEIR REGULATORS TO DEVELOP STANDARDS THAT SOLVE BUSINESS, OPERATIONAL, AND TECHNOLOGICAL CHALLENGES.MISMO STANDARDS ARE GROUNDED IN AN OPEN PROCESS TO DEVELOP, PROMOTE AND MAINTAIN VOLUNTARY CONSENSUS-BASED STANDARDS THAT ALLOW PARTICIPANTS IN THE MORTGAGE INDUSTRY SUCH AS MORTGAGE LENDERS, INVESTORS IN REAL ESTATE AND MORTGAGES, SERVICERS, INDUSTRY VENDORS, BORROWERS AND OTHER PARTIES TO EXCHANGE INFORMATION AND MORE SECURELY, EFFICIENTLY AND ECONOMICALLY.MISMO MEMBERS PAY ANNUAL DUES ON A CALENDAR YEAR BASIS. SOME ORGANIZATIONS PARTICIPATE AS MISMO CHAMPIONS, A HIGHER LEVEL OF MEMBERSHIP THAT COMES WITH ADDITIONAL BENEFITS. IN FY25 MISMO MAINTAINED ITS FOCUS ON ENABLING KEY INDUSTRY IMPLEMENTATION AND TECHNOLOGY INITIATIVES. DETAILS OF SOME OF THE MANY INITIATIVES COMPLETED OR IN PROCESS ARE NOTED BELOW.MISMO PUBLISHED THE COMMON CONFIDENCE SCORE STANDARD AND RELATED IMPLEMENTATION GUIDANCE TO ESTABLISH A CONSISTENT FRAMEWORK FOR COMMUNICATING AND EVALUATING THE RELIABILITY OF AVM-GENERATED PROPERTY VALUATIONS. THE STANDARD PROMOTES TRANSPARENCY, SUPPORTS RISK-BASED DECISION-MAKING AND REGULATORY COMPLIANCE EFFORTS, AND ENCOURAGES BROADER ADOPTION OF AUTOMATED VALUATION TECHNOLOGIES THROUGHOUT THE MORTGAGE LIFECYCLE.MISMO, IN COLLABORATION WITH THE CONFERENCE OF STATE BANK SUPERVISORS (CSBS), PUBLISHED THE MORTGAGE COMPLIANCE DATASET (MCD) TO ESTABLISH A STANDARDIZED LOAN DATA FRAMEWORK FOR REGULATORY EXAMINATIONS AND LOAN PORTFOLIO REVIEWS. THE STANDARD PROMOTES CONSISTENCY IN THE EXCHANGE OF MORTGAGE INFORMATION AMONG REGULATORS AND INDUSTRY PARTICIPANTS AND SUPPORTS LENDERS' QUALITY CONTROL, TESTING, AND COMPLIANCE ACTIVITIES THROUGHOUT THE LOAN ORIGINATION AND POST-CLOSING LIFECYCLE.MISMO PUBLISHED THE APPRAISAL PROCUREMENT DATASET SPECIFICATION TO STANDARDIZE THE ORDERING AND PROCUREMENT OF APPRAISAL AND OTHER PROPERTY VALUATION SERVICES ACROSS THE MORTGAGE INDUSTRY. THE SPECIFICATION PROVIDES A COMMON FRAMEWORK FOR EXCHANGING VALUATION ORDER INFORMATION, IMPROVING INTEROPERABILITY, REDUCING OPERATIONAL COMPLEXITY, AND SUPPORTING THE INDUSTRY'S TRANSITION TO MORE EFFICIENT, DATA-DRIVEN VALUATION PROCESSES.MISMO DEVELOPED A NEW STANDARD APPLYING SMART DOC V3 VERIFIABLE PROFILE FUNCTIONALITY TO SECURITY INSTRUMENTS TO IMPROVE THE INTEGRITY, RELIABILITY, AND AUTHENTICITY OF MORTGAGE LOAN DATA EXCHANGED AMONG INDUSTRY PARTICIPANTS. THE STANDARD ENABLES EMBEDDED DOCUMENT DATA TO BE AUTOMATICALLY VERIFIED AGAINST THE ASSOCIATED DOCUMENT IMAGE, REDUCING MANUAL VERIFICATION EFFORTS, ENHANCING DATA QUALITY, AND SUPPORTING MORE SECURE AND EFFICIENT MORTGAGE DOCUMENT PROCESSING.MISMO DEVELOPED THE SMART DOC V3 EHELOC SPECIFICATION TO SUPPORT THE CREATION, EXCHANGE, AND MANAGEMENT OF NATIVELY ELECTRONIC HOME EQUITY LINE OF CREDIT (HELOC) DOCUMENTS. THE SPECIFICATION ENHANCES INTEROPERABILITY, IMPROVES DATA INTEGRITY THROUGH AUTOMATED VERIFICATION CAPABILITIES, AND SUPPORTS MORE EFFICIENT AND SECURE DIGITAL MORTGAGE PROCESSES ACROSS ORIGINATION, PURCHASE, AND SERVICING ACTIVITIES.MISMO UPDATED ITS CONSUMER-FACING CHARGE AND FEE NAMING GUIDE TO IMPROVE CONSISTENCY, TRANSPARENCY, AND STANDARDIZATION IN THE NAMING AND EXCHANGE OF MORTGAGE-RELATED FEES. THE UPDATED GUIDE EXPANDS STANDARDIZED FEE TERMINOLOGY TO SUPPORT CLEARER CONSUMER DISCLOSURES, IMPROVE DATA QUALITY, REDUCE OPERATIONAL INEFFICIENCIES, AND FACILITATE MORE CONSISTENT IMPLEMENTATION ACROSS MORTGAGE INDUSTRY SYSTEMS AND PARTICIPANTS.ADDITIONAL HIGHLIGHTS IN THE DEVELOPMENT OF MISMO STANDARDS IN FY25 INCLUDE:-MISMO CONTINUED TO EXPERIENCE SIGNIFICANT TRACTION WITH RESPECT TO ADOPTION OF THE MISMO STANDARDS. -MISMO STANDARDS CONTINUED TO BE USED BY FANNIE MAE AND FREDDIE MAC TO COMPLY WITH THE REQUIREMENTS OF THE FHFA-MANDATED UNIFORM MORTGAGE DELIVERY PROGRAM (UMDP). MISMO STANDARDS WERE USED IN THE RE-WRITE OF THE GSES UPDATED UNIFORM APPRAISAL DATASET (UAD) REQUIREMENTS AS WELL AS FOR FHA, VA, GINNIE MAE, AND USDA MODERNIZATION EFFORTS. INDUSTRY COLLABORATION AND EVENTS:INDUSTRY COLLABORATION IS A CORE FUNCTION OF MISMO. MISMO STANDARDS ARE DEVELOPED THROUGH COLLABORATION OF MORTGAGE PROFESSIONALS AND CONDUCTED USING A VOLUNTARY CONSENSUS PROCESS IN ACCORDANCE WITH GOVERNANCE PROCEDURES. INDUSTRY COLLABORATION MAY SIMPLY BE AN EXCHANGE OF INFORMATION, IDEAS, AND/OR EDUCATION AROUND A SPECIFIC TOPIC. MISMO'S 35+ WORKGROUPS (WGS) ARE SUPPORTED BY INDUSTRY CONTRIBUTORS THAT FOCUS ON SPECIFIC BUSINESS PROCESS OR TECHNICAL DOMAINS. STANDARDS ACTIVITY IS CONDUCTED BY MORTGAGE INDUSTRY CONTRIBUTORS WHO CHAIR WORKGROUPS, AUTHOR BUSINESS AND TECHNICAL DOCUMENTATION AND CONTRIBUTE THEIR EXPERTISE TOWARDS CREATING INDUSTRY STANDARDS. MISMO LAUNCHED SEVERAL NEW COLLABORATIVE WORKGROUPS AND FORUMS IN 2025 INCLUDING:-LAUNCHED THE AG FINANCE WORKGROUP, A NEW GROUP FOCUSED ON AGRICULTURAL FINANCE STANDARDS LEVERAGING MISMO TO DEVELOP UNIVERSALLY ADOPTED DATASETS THAT SUPPORT THE AGRICULTURAL LENDING INDUSTRY WITH LOAN ORIGINATION, ONBOARDING, AND SERVICING PROCESSES.-LAUNCHED THE COMMERCIAL ENOTES WORKGROUP, TO DEVELOP A GLOSSARY OF COMMON TERMS THAT WILL BE USED IN THE GENERATION OF COMMERCIAL, HOME EQUITY LINE OF CREDIT, AGRICULTURE, AND MULTI-FAMILY DIGITAL MORTGAGES. IN JANUARY 2025, MISMO HOSTED ITS WINTER SUMMIT IN MIRAMAR BEACH, FLORIDA. THE EVENT INCLUDED FOUR PRODUCTIVE DAYS FULL OF PANEL PRESENTATIONS, WORKGROUP MEETINGS, AND STRATEGIC PLANNING SESSIONS WITH ATTENDEES FROM EVERY SECTOR OF THE INDUSTRY. MISMO AGAIN DEVELOPED SPECIAL PROGRAMMING FOCUSED ON GENERATIVE ARTIFICIAL INTELLIGENCE (AI) USE CASES AND DEMOS FROM ACROSS THE INDUSTRY FOLLOWED BY PRESENTATIONS COVERING KBA, THE FUTURE OF VALUATIONS, ECLOSING ADOPTION, IN ADDITION TO UPDATES FROM THE VA, GSE'S, FHA, AND A SESSION FOCUSED ON HELPING CONSUMERS BE BETTER PREPARED FOR THE COSTS OF HOMEOWNERSHIP ESPECIALLY WHEN IT COMES TO NATURAL DISASTERS.IN JUNE 2025, MISMO HOSTED ITS SPRING SUMMIT IN BOSTON, MASSACHUSETTS. THE EVENT FOLLOWED OUR USUAL FOUR-DAY FORMAT WITH ATTENDEES JOINING FROM EVERY SECTOR OF THE INDUSTRY KICKING OFF SESSIONS ON HOMEOWNERS INSURANCE, SIMPLIFYING AND ACCELERATING ADOPTION OF THE MISMO STANDARDS USING AI, AND OPEN BANKING. THERE WERE ALSO SESSIONS FOCUSED ON HOME EQUITY, ADMINISTRATION CHANGE, AND ENHANCING MORTGAGE QUALITY AND INVESTOR CONFIDENCE. THE GSES ALSO HOSTED A SESSION ON UAD AND URAR READINESS.IN SEPTEMBER 2025, MISMO HOSTED ITS FALL SUMMIT IN ANNAPOLIS, MARYLAND. THE EVENT KICKED OFF WITH WORKGROUP MEETINGS MONDAY MORNING, FOLLOWED BY AN AI BOOTCAMP TO GAIN HANDS-ON EXPERIENCE WITH REAL-WORLD CASE STUDIES AND LEARN HOW TO APPLY AI SOLUTIONS TO ACCELERATE YOUR BUSINESS GROWTH AND AN AGGREGATOR FORUM IN THE AFTERNOON. TUESDAY GENERAL EDUCATION SESSIONS INCLUDED REMARKS FROM BOB BROEKSMIT, PRESIDENT AND CEO OF THE MORTGAGE BANKERS ASSOCIATION. ADDITIONAL SESSIONS INCLUDED LEARNING HOW THE MORTGAGE COMPLIANCE DATASET WILL TRANSFORM THE WAY LENDERS COMPLY WITH STATE REGULATIONS, MORE AI FOCUSED PROGRAMMING, A DISCUSSION ON WHO THE CREDIT SCORING LANDSCAPE IS QUICKLY SHIFTING, AUTOMATED VALUATION MODELS, AND AN UPDATE FROM THE GSES. CERTIFICATION:MISMO CERTIFICATION OFFERINGS ARE A SUITE OF BUSINESS AND TECHNOLOGY CERTIFICATIONS. MISMO CERTIFICATIONS SAVE LENDERS TIME AND RESOURCES BY PROVIDING A CONSISTENT ASSESSMENT OF TECHNOLOGY PROVIDER CAPABILITIES, INCLUDING INFORMATION ON WHICH TECHNOLOGY PROVIDERS COMPLY WITH APPLICABLE MISMO STANDARDS/CERTIFICATION REQUIREMENTS, ENHANCING TRANSPARENCY AND INTEROPERABILITY, REDUCING THE POTENTIAL FOR REWORK. THESE CERTIFICATIONS ALSO ALLOW TECHNOLOGY PROVIDERS AN OPPORTUNITY TO HIGHLIGHT THEIR ADHERENCE TO MISMO STANDARDS. FURTHER, IN FY25 MISMO'S REMOTE ONLINE NOTARIZATION (RON) CERTIFICATION ENJOYED 27 RON PROVIDERS, 8 ECLOSING PROVIDERS HAVE BEEN CERTIFIED MISMO COMPLIANT, AND 7 EVAULT PROVIDERS WERE MISMO CERTIFIED. ADDITIONALLY, WE HAD 4 PRODUCT CERTIFICATIONS AND 5 MISMO CERTIFIED CONSULTANTS. 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 12 0 1 0 0 0 0 0 1 1 0 0 0 X 20 20 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 0 X ALEXANDRA BRINTON 2025572835 1919 M STREET 5TH FLOOR WASHINGTON DC 20036 SAGE NICHOLS CHAIR (AS OF 01/25) 1.00 0.00 X X 0 0 0 JOHN HEDLUND CHAIR (UNTIL 01/25) 1.00 0.00 X X 0 0 0 MIKE HOGAN VICE CHAIR (AS OF 01/25) 0.50 0.00 X X 0 0 0 MICHELE BODDA BOARD MEMBER 0.50 0.00 X 0 0 0 TIM BOWLER BOARD MEMBER 0.50 0.00 X 0 0 0 LISA DORSEY BOARD MEMBER 0.50 0.00 X 0 0 0 BRYAN DOYLE BOARD MEMBER 0.50 0.00 X 0 0 0 TIM ELKINS BOARD MEMBER 0.50 0.00 X 0 0 0 MICHAEL FRATANTONI BOARD MEMBER (UNTIL 01/25) 0.50 0.00 X 0 0 0 SUZANNE GARWOOD BOARD MEMBER 0.50 0.00 X 0 0 0 PETER GRACE BOARD MEMBER (AS OF 01/25) 0.50 0.00 X 0 0 0 PATRICK HARTFORD BOARD MEMBER 0.50 0.00 X 0 0 0 JEFF HURLEY BOARD MEMBER (UNTIL 12/24) 0.50 0.00 X 0 0 0 ARAVIND JAGANNATHAN BOARD MEMBER 0.50 0.00 X 0 0 0 KURT JOHNSON BOARD MEMBER 0.50 0.00 X 0 0 0 NEENU KAINTH BOARD MEMBER (AS OF 01/25) 0.50 0.00 X 0 0 0 GIUSEPPE LUCIDO BOARD MEMBER 0.50 0.00 X 0 0 0 TERI PANSING BOARD MEMBER 0.50 0.00 X 0 0 0 KEVIN PERANIO BOARD MEMBER (AS OF 01/25) 0.50 0.00 X 0 0 0 AARON PERLIS BOARD MEMBER 0.50 0.00 X 0 0 0 ERIC RAY BOARD MEMBER (UNTIL 12/24) 0.50 0.00 X 0 0 0 KIRAN SAHOTA BOARD MEMBER (AS OF 01/25) 0.50 0.00 X 0 0 0 IKE SURI BOARD MEMBER 0.50 0.00 X 0 0 0 MATT TULLY BOARD MEMBER 0.50 0.00 X 0 0 0 MICHAEL WOOD BOARD MEMBER (UNTIL 12/24) 0.50 0.00 X 0 0 0 RICHARD J HILL ACTING MISMO PRESIDENT 17.50 17.50 X 0 280076 30126 JANIS K DAVIS MISMO VP-INDUSTRY STDS.(UNTIL 07/25) 35.00 0.00 X 0 251135 29015 JONATHAN P KEARNS MISMO VP-PRODUCT DEVELOPMENT 35.00 0.00 X 0 226714 48141 MICHAEL W BRIGGS MISMO SECRETARY 1.00 34.00 X 0 397060 39552 ASTRID D VERMEER MISMO TREASURER (UNTIL 02/25) 1.00 34.00 X 0 113060 7905 HEATHER D MESSAM MISMO TREASURER (AS OF 02/25) 1.00 34.00 X 0 228174 15677 DAVID A COLEMAN FORMER MISMO PRESIDENT 35.00 0.00 X 0 265628 28588 SHELLEY W REBACK FORMER MISMO SECRETARY 1.00 34.00 X 0 200942 14038 0 1962789 213042 0 1 1 0 PHOENIX OVERSIGHT GROUP LLC 1005 N GLEBE ROAD ARLINGTON VA 22201 CONSULTING 371850 TIDGEWELL RESULTS EXPERIENCE 21851 NEWLAND ST HUNTINGTON CA 92646 CONSULTING 216475 TRUDIGITAL MORTGAGE SOLUTIONS LLC 10943 E ACTINIDIA ST TUCSON AZ 85747 CONSULTING 159894 FALCON CAPITAL ADVISORS LLC 1001 G STREET NW STE 460W WASHINGTON DC 20001 CONSULTING 104400 ACTUALIZE CONSULTING LLC 1252 CENTER HARBOUR PLACE RESTON VA 20194 CONSULTING 102755 5 INNOVATION INVST. FEE 900099 1201515 1201515 MEMBERSHIP DUES 900099 1125413 1125413 SPONSORSHIPS 900099 316769 316769 REGISTRATION FEES 900099 253704 253704 SOFTWARE COMPLIANCE 900099 186550 186550 3083951 140134 140134 3500 3500 OTHER REVENUE 900099 52639 52639 52639 3280224 2767182 0 513042 X 1890417 10239 18338 942109 20921 74623 168468 127709 249215 108541 CREDIT CARD FEES 26056 COMMISSIONS 25000 3545 3665181 242486 652566 3125074 2804933 52380 106940 89600 101498 432098 347700 153939 84398 86440 116654 3749919 3866989 89069 274545 840260 1169626 929329 1444171 X 2820590 2422818 2820590 2422818 3749919 3866989 -384957 -12815 0 X 0 1 X 1 0 0 1 0 432098 347700 84398 84398 3272869 -12815 5460 -7355 3280224 0 3280224 3670641 5460 5460 3665181 0 3665181 1 0 0 MICHAEL W BRIGGS MISMO SECRETARY 0 356520 0 40000 0 540 0 20700 0 18852 0 436612 0 0 RICHARD J HILL ACTING MISMO PRESIDENT 0 265536 0 14000 0 540 0 16128 0 13998 0 310202 0 0 DAVID A COLEMAN FORMER MISMO PRESIDENT 0 223057 0 0 0 42571 0 14538 0 14050 0 294216 0 0 JANIS K DAVIS MISMO VP-INDUSTRY STDS.(UNTIL 07/25) 0 235609 0 15000 0 526 0 14327 0 14688 0 280150 0 0 JONATHAN P KEARNS MISMO VP-PRODUCT DEVELOPMENT 0 213221 0 13000 0 493 0 13437 0 34704 0 274855 0 0 HEATHER D MESSAM MISMO TREASURER (AS OF 02/25) 0 215496 0 12200 0 478 0 13029 0 2648 0 243851 0 0 SHELLEY W REBACK FORMER MISMO SECRETARY 0 90297 0 0 0 110645 0 6463 0 7575 0 214980 0 0 PART I, LINE 3 MISMO'S PARENT ORGANIZATION, THE MORTGAGE BANKERS ASSOCIATION, SETS MISMO PRESIDENT'S COMPENSATION USING THE FOLLOWING CRITERIA: COMPENSATION COMMITTEE, FORM 990 OF OTHER ORGANIZATIONS, APPROVAL BY THE COMPENSATION COMMITTEE. PART I, LINE 4A THE ORGANIZATION MADE SEVERANCE PAYMENTS TO THE FOLLOWING EMPLOYEES DURING THE YEAR FOLLOWING SEPARATION FROM SERVICE. DAVID A. COLEMAN: $25,000 SHELLEY W. REBACK: $95,075 FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF MISMO IS THE MORTGAGE BANKERS ASSOCIATION, A RELATED IRC SECTION 501(C)(6) ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE MISMO BOARD OF DIRECTORS ARE ELECTED BY THE MORTGAGE BANKERS ASSOCIATION (MBA), A RELATED IRC SECTION 501(C)(6) ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7B MORTGAGE BANKERS ASSOCIATION, AS THE SOLE MEMBER OF MISMO, APPROVES ALL BYLAWS CHANGES. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE MISMO PRESIDENT AND THE MISMO VICE PRESIDENT OF OPERATIONS. IT WAS ELECTRONICALLY APPROVED BY MEMBERS OF THE MISMO BUDGET AND FINANCE COMMITTEE. THE FULL BOARD IS PROVIDED A COPY BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C IT IS MISMO'S POLICY THAT NO COVERED PARTY PARTICIPATE IN THE EVALUATION OR APPROVAL BY MISMO OF ANY CONTRACTUAL ARRANGEMENT TO WHICH MISMO MAY BECOME A PARTY IF THE COVERED PARTY'S PARTICIPATION WOULD CREATE AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST. MISMO'S CONFLICTS POLICY WILL BE CONTINOUSLY MONITORED BY THE BOARD OF DIRECTORS ON AN ONGOING BASIS FOR COMPLIANCE WITH THE POLICY AND REQUIRES ANNUAL DISCLOSURE TO THE MBA GENERAL COUNSEL AND SECRETARY OF "CONFLICTS OF INTEREST" DEFINED AS A SITUATION IN WHICH A COVERED PARTY WOULD PARTICIPATE IN THE EVALUATION OR APPROVAL BY MISMO OF ANY CONTRACTUAL ARRANGEMENT TO WHICH MISMO MAY BECOME A PARTY, IF SUCH INDIVIDUAL, OR SUCH INDIVIDUAL'S EMPLOYER, WOULD OBTAIN MORE THAN AN INSIGNIFICANT FINANCIAL BENEFIT, EITHER DIRECTLY OR INDIRECTLY. "COVERED PARTY" MEANS A MEMBER OF THE MISMO BOARD OF DIRECTORS OR A MEMBER OF THE BOARD COMMITTEE OR BOARD TASK FORCE THAT MAY BOTH (I) RECOMMEND ENTERING INTO CONTRACTS AND (II) PLAY A ROLE IN VENDOR REVIEW AND SELECTION. MOREOVER, COVERED PARTIES ARE SUPPOSED TO UPDATE THEIR DISCLOSURES AS CIRCUMSTANCES WARRANT AND PROVIDE THEM TO THE MBA GENERAL COUNSEL AND SECRETARY. THE DISINTERESTED MEMBERS OF THE EXECUTIVE COMMITTEE OF THE MISMO BOARD OF DIRECTORS SHALL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS OR BEHAVIOR IN CONFLICT WITH THIS POLICY HAS OCCURRED, AND WHAT SUBSEQUENT ACTION IS APPROPRIATE (IF ANY) AND ITS DECISION WILL BE FINAL, EXCEPT AS FOLLOWS. THE EXECUTIVE COMMITTEE SHALL INFORM THE FULL BOARD OF DIRECTORS OF ANY DISAGREEMENT BETWEEN THE EXECUTIVE COMMITTEE AND THE DISCLOSING DIRECTOR AS TO ITS DETERMINATION THAT A CONFLICT OF INTEREST, OR BEHAVIOR IN CONFLICT OF THE POLICY, EXISTS AND ANY RECOMMENDED ACTION. THE BOARD SHALL RETAIN THE RIGHT TO MODIFY OR REVERSE THE EXECUTIVE COMMITTEE'S DETERMINATIONS IN THIS CONTEXT. THE CONFLICTS OF INTEREST POLICY ALSO ADDRESSES CONFIDENTIALITY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION FOLLOWS THE PROCESS MBA HR HAS IN PLACE FOR HIRING. THIS INCLUDES USE OF COMPS; REVIEW OF HIRING AND COMP DECISIONS BY HR; AND DECISIONS WERE ALL APPROVED BY THE PRESIDENT OF MISMO. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE NOT GENERALLY MADE AVAILABLE TO THE GENERAL PUBLIC, BUT IF REQUESTS FOR COPIES OF THESE DOCUMENTS WERE TO BE RECEIVED, THE ORGANIZATION WOULD CONSIDER MAKING THEM AVAILABLE TO THE REQUESTOR. FORM 990, PART IX, LINE 11G PROGRAM CONSULTANTS 942,109. MORTGAGE BANKERS ASSOCIATION 1919 M STREET NW 5TH FL WASHINGTON DC 20036 361505650 REPRESENTS THE LEGISLATIVE AND REGULATORY INTERESTS OF THE FINANCE INDUSTRY IL 501(C)(6) 0 RESEARCH INSTITUTE FOR HOUSING AMERICA TRUST 1919 M STREET NW 5TH FL WASHINGTON DC 20036 366109824 FURTHERING RESEARCH IN THE FIELD OF MORTGAGE BANKING AND REAL ESTATE FINANCE IL 501(C)(3) LINE 12A TYPE I MORTGAGE BANKERS ASSOCIATION 0 MORPAC 1919 M STREET NW 5TH FL WASHINGTON DC 20036 526144335 POLITICAL ACTION COMMITTEE DC 527 MORTGAGE BANKERS ASSOCIATION 0 MORTGAGE ACTION ALLIANCE INCORPORATED 1919 M STREET NW 5TH FL WASHINGTON DC 20036 271893100 SUPPORT COMMON BUSINESS INTERESTS OF REAL ESTATE FINANCE INDUSTRY DE 501(C)(6) MORTGAGE BANKERS ASSOCIATION 0 MBA OPENS DOORS FOUNDATION 1919 M STREET NW 5TH FL WASHINGTON DC 20036 320355086 PROVIDES RENTAL/MORTGAGE ASSISTANCE TO FAMILIES W/ CRITICALLY ILL CHILDREN DE 501(C)(3) LINE 7 MORTGAGE BANKERS ASSOCIATION 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 MORTGAGE BANKERS ASSOCIATION M 1963471 CONTRACTUAL FEE MORTGAGE BANKERS ASSOCIATION P 193847 ACTUAL EXPENDITURES MORTGAGE BANKERS ASSOCIATION Q 919957 REIMB. FOR CREDIT CARD RECEIPTS SCHEDULE R PART VI, LINE 10: SHARING OF PAID EMPLOYEES IS INCLUDED IN THE AMOUNT FOR LINE 1M.