Monday, January 29, 2007

MISMO: New governance committee

It's hard to overestimate the potential benefit that will ultimately come to the mortgage industry through the efforts of MISMO and the many companies and executives that are participating in this effort.

What began as a dream of pulling the many very different players from all over the business into a single working body to set standards that all would eventually adhere to has become...well, just that. Despite working for years without being able to quantify what the actual benefits would be to a largely skeptical audience, MISMO leadership has done a great job of pulling together multiple interdisciplinary teams that have actually moved the industry forward.

Spending executive time on something that may or may not benefit the company directly is one thing, call it a necessary expense in a competitive and risk-based world. But handing over your top people to an effort that will benefit both you and your competitors is a sign that you truly do care about the future of your industry. I salute the MISMO member companies and especially those companies that have loaned executives to serve on the organization's Governance Committee.

You can find the entire governance committee here.

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