ALTA CEO Appointed to MISMO Board of Directors

December 30, 2014

Michelle Korsmo, ALTA’s chief executive officer, and three others were named to the Mortgage Industry Standards Maintenance Organization (MISMO) Board of Directors.

According to the Mortgage Bankers Association (MBA), parent corporation of MISMO, also joing the board with Korsmo are Bill Beckmann, Kyung Cho-Miller and Joe Tyrrell.

“I would like to congratulate Bill, Kyung, Michelle and Joe on becoming the newest members of MISMO’s Board of Directors,” said Dave Stevens, MBA president and chief executive officer. “The mortgage industry continues to evolve rapidly and MISMO will play an increasing role in helping to solve important business and operational problems. Bill, Kyung, Michelle and Joe are accomplished executives and will provide perspective and guidance to help MISMO meet the current and future needs of the industry. We look forward to their contributions to MISMO.”

Beckmann is president and CEO of MERSCORP Holdings Inc. and its subsidiary, Mortgage Electronic Registration Systems Inc. Beckmann oversees the management of a national electronic registry system that tracks the changes in servicing rights and beneficial ownership interests in mortgage loans that are registered on the registry. Beckmann joined MERSCORP Holdings from Beckmann Insights LLC, an independent consulting firm. He was formerly chairman and CEO of CitiMortgage Inc.

Cho-Miller is executive director and fair lending counsel at JPMorgan Chase. As fair lending counsel she works closely with the Corporate Compliance Team to review and test aspects of consumer and small businesses to assess fair lending compliance and risk. Before her fair lending role, she provided guidance on Dodd-Frank regulations and provided legal support on all aspects of the originations business, including product development, federal and investor exams, and compliance with HMDA, ECOA, RESPA and TILA. Prior to joining Chase in October 2010, Cho-Miller worked at Fannie Mae in several positions in the legal department and executive office.

Korsmo is the chief executive officer of the American Land Title Association, the national trade association for real estate settlement services and the land title industry. Korsmo leads the Association’s efforts to promote the safe and efficient transfer of ownership of real property as well as all other activities of the Association. Korsmo previously served as executive vice president of the Americans for Prosperity Foundation. Prior to that, Korsmo served as deputy chief of staff at the U.S. Department of Labor.

Tyrrell is senior vice president, corporate strategy, at Ellie Mae. Tyrrell oversees Ellie Mae’s business and corporate development efforts involving the company’s network of current and potential business partners and merger and acquisition strategies.

The MISMO Board of Directors represents a cross-section of the real estate finance industry that manages and directs MISMO’s business and affairs. The MISMO board consists of representatives from the residential and commercial mortgage industry who serve for staggered two-year terms.

Korsmo, Beckmann, Cho-Miller and Tyrrell join the following members of the MISMO Board of Directors: Steve Gozdan, chief financial officer of Cenlar FSB; Peter Carroll, senior vice president, Capital Markets at Wells Fargo & Co.; Joanne Denver; managing director, Cornerstone Real Estate Advisers LLC; Tom Fink, senior vice president and managing director of Trepp LLC; Linglong He, chief information officer of Quicken Loans Inc; Gabe Minton, senior vice president and chief technology officer of PHH Mortgage; Joshua Weinburg, senior vice president for compliance, First Choice Loan Services Inc; Eddy Wetsel, director of operations for real estate lending at USAA Federal Savings Bank; and Mike Fratantoni, president of MISMO and chief economist, senior vice president, research and industry technology, Mortgage Bankers Association.

Harry Gardner will step down from the MISMO Board of Directors. 

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