MISMO Launches Two New AI Governance Certifications At Fall Summit

MISMO launched two new certifications designed to help mortgage companies navigate the growing need for responsible AI governance. The MISMO FRAME Advisory Partner Certification and MISMO AI Governance Certification are being introduced during the MISMO Fall Summit in Reston, Virginia.

“AI is moving quickly into mortgage workflows, and organizations need practical ways to understand and manage the risks that come with it,” said MISMO President Brian Vieaux, CMB. “These certifications give the industry another way to build confidence in responsible AI adoption by recognizing organizations that can help lenders put good governance practices into action and technology providers that can demonstrate how their AI-enabled products are governed.”

The MISMO FRAME Advisory Partner Certification is designed for consulting and advisory organizations that help lenders and servicers implement AI governance. The certification recognizes organizations that have demonstrated the knowledge and practical capability to put MISMO FRAME (Framework for Responsible AI in the Mortgage Ecosystem) into practice. Certified organizations can help clients establish processes for AI risk assessment, documentation, oversight, controls, evidence and executive reporting.

By creating a trusted credential for mortgage-focused AI governance expertise, the certification will give lenders and servicers greater confidence in selecting qualified practitioners and support more consistent implementation of FRAME across the industry.

The MISMO AI Governance Certification is designed for mortgage technology providers and provides independent, product-level validation of the governance practices supporting AI-enabled functionality. Each AI use case within a product is evaluated based on factors such as consumer impact, compliance considerations, decision-making influence and operational risk. The assessment considers the governance controls, documentation, testing, oversight and ongoing monitoring supporting those use cases.

The resulting designation gives lenders greater transparency into the governance practices supporting AI-enabled mortgage technology and provides additional information they can consider when evaluating technology solutions.

“For mid-sized mortgage companies that may not have extensive AI, risk and compliance resources, FRAME will be a lifeline—providing a practical, mortgage-specific foundation for building an effective AI governance program,” said Lindsy Gwozdz, SVP, Compliance and General Counsel at HMA Mortgage. “MISMO’s two new certifications will add another important layer of confidence by helping lenders identify technology solutions that have been evaluated for responsible AI practices and qualified advisors who can help put FRAME into action. Together, FRAME and these certifications give lenders valuable tools and trusted resources to adopt AI responsibly.”

The new certifications expand MISMO’s certification program to address the growing use of artificial intelligence across the mortgage industry. Together, they provide a way for lenders and servicers to identify organizations with demonstrated expertise in implementing AI governance and for lenders to gain greater visibility into the governance practices behind AI-enabled mortgage technology.

Both certifications are built on MISMO’s established certification program, giving lenders greater confidence that the technology providers and partners they rely on have demonstrated mortgage-specific expertise, adhere to MISMO standards and follow industry best practices.

The new certifications are being introduced at the MISMO Fall Summit on August 25, and applications are now being accepted. The Summit brings together over 400 lenders, servicers, regulators, GSEs, technology providers and other industry participants to collaborate on standards and address emerging challenges across the mortgage ecosystem.