DENVER, CO (July 29, 2024) |
Mortgage Cadence, a subsidiary of Accenture (NYSE: ACN), announced that National Sales Director George Morales has been appointed Chairperson of The Mortgage Industry Standards Maintenance Organization (MISMO) Reverse Mortgage Development Workgroup (DWG).
Morales will orchestrate the development, introduction, publication and maintenance of reverse mortgage work products in collaboration with workgroup members. He will also set agendas, lead regular meetings and drive the effort towards product completion.
MISMO® is the standards development body for the mortgage industry and a subsidiary of the Mortgage Bankers Association (MBA), it aims to develop a common language for exchanging information for the mortgage finance industry.
The workgroup collaboratively reviews and enhances the existing MISMO reference model to provide more holistic support for reverse mortgages. The reference model aims to mainstream reverse mortgage programs by providing opportunities for systems, data, and documents to easily exchange information between all parties involved in the lending lifecycle by both forward and reverse mortgage lenders, vendors, and other third parties.
“The efforts of the MISMO Reverse Mortgage Development Workgroup are incredibly important to the future success of the reverse mortgage industry, said Steve Irwin, President of the National Reverse Mortgage Lenders Association (NRMLA). George has an incredibly deep background in reverse mortgages that makes him ideally suited to lead this endeavor and bring it to a successful conclusion.”
“I am honored to have been named Chairperson of this innovative workgroup,” said Morales. “I’m looking forward to taking my experience and leadership to help remove barriers from organizations that want to offer reverse mortgages and improve the sector as a whole.”