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Re-activating C-MISMO as chairman of the board

Well, I was re-elected to another two-year term to serve on the board of governors of the Commercial Mortgage Industry Standards Maintenance Organization (C-MISMO), on which I have served since 2008.

What’s new this year: I was elected chairman of the board, succeeding Jim Cooke who held that position admirably. As I look forward to two upcoming conferences, I am excited to get C-MISMO moving on existing and new standards.

Next week I am attending the MBA’s Commercial/Multifamily Servicing & Technology Conference 2013 in Phoenix, and we are having a MISMO meeting on Tuesday to talk about strategy for the coming year. We will be at the hotel bar, so hopefully we can get a decent turnout and build some momentum for the 2013 action plan.

A big perk that comes with being chairman is I get to be an ex officio member of the residential MISMO board of directors. This group is well established and is really dominating the residential mortgage space. When I attend their board meeting at MISMO’s Spring Summit I will get an inside look into how they work — and I will get the latest news on the regulatory front.

Despite the lack of progress in C-MISMO, I am hopeful that this year the regulators will finalize the new securitization rules, and XML based standards will finally become a major talking point. In the interim, I will plan to get C-MISMO active again in creating new standards and promoting our existing standards. I’ll report back after the two meetings.

MBA’s Commercial/Multifamily Servicing & Technology Conference 2013

MISMO’s Spring Summit

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Jim Flaherty is CEO of CMBS.com and the creator of the Backshop loan origination system. He is a trained credit professional with experience installing enterprise underwriting systems for commercial real estate lenders, rating agencies and investors.

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