Mortgage industry group to develop emerging technologies task force

MISMO, the mortgage industry’s standards organization, is looking for industry professionals to serve on a task force on emerging technologies.

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Specifically, participants in the Emerging Technologies Community of Practice will help identify and monitor emerging technologies that could have a significant impact on the mortgage business. Participants will seek out new innovations and opportunities to collaborate on related initiatives.

“The new group will help the industry take a proactive approach to new technologies,” said Rick Hill, executive vice president of MISMO and vice president of industry technology at the Mortgage Bankers Association. “With the accelerating pace of new technologies, the group’s forward-looking approach is intended to help companies realize the full benefit of new innovations more rapidly. Our new community of practice is designed to keep MISMO ahead of the curve, so we will be better able to support the needs of our members and the mortgage community at large.”

In addition to conversations about emerging technologies and their potential impact on the industry, the group will assess the need for related standards. It will also develop a mechanism for sharing information about emerging technologies across the industry.

“By proactively keeping a close eye on new and emerging technologies we position MISMO to better serve the industry as a whole, and in turn, the consumers we assist every day,” Josh Koppang, team leader at Nexsys Technologies, said. “By joining MISMO’s new Emerging Technologies Community of Practice, we will all be able to get a bird’s eye view of the technology landscape and have the opportunity to identify and take advantage of the next big innovation.”

Professionals from all corners of the industry – including lenders, software vendors, third-party service providers and public agencies – are invited to participate in the group. They do not have to be members of MISMO, but only MISMO members will vote on approving any standards or other products and services generating from the new workgroup.