Innovation Investment Fee
Pay MISMO’s Innovation Investment Fee and Support the Future of the Mortgage Finance Industry
As we look ahead to the future of the mortgage finance industry, we should consider solutions that involve standardizing data, documents, and encouraging the technology development that supports a quick and painless movement of critical information between business and technology partners.
MISMO is asking all lenders to pay the Innovation Investment Fee in 2025. The standardization and collaboration MISMO brings to the industry will help to solve a number of critical issues we will face in the coming years, but only if it has the resources to do so. Proceeds from the Fee go directly to supporting this essential work.
About the Innovation Investment Fee
MISMO launched the Innovation Investment Fee in February 2021 to support work to foster efficiency, cost reduction, interoperability, digital transformation, and innovation in the mortgage process and much more. To date, more than 3,000 lenders of all sizes and business models invested in the future of our industry by paying the Innovation Investment Fee. Lender investment makes it possible for MISMO to build the groundwork for a more efficient, less costly mortgage market.
The Innovation Investment Fee Funding Model
The Innovation Investment Fee of just $0.75 per origination is a funding model endorsed by the MBA and MISMO boards of directors to accelerate the development and adoption of crucial industry standards and best practices.
- MERSCORP will continue to serve as billing agent for the fee by calculating the amount due and sending the invoice as a service to MISMO and the industry.
- The fee is calculated based on prior year MERS® System registrations. For example, an organization that registers 1,000 loans on the MERS® System in 2024 will receive a bill in February 2025 for $750 ($0.75 x 1,000= $750).
- Payment of the Innovation Investment Fee is voluntary, but these funds are essential support for MISMO’s important work. Non-payment of the Innovation Investment Fee will have no impact on an organization’s MERS® System Membership but will impact the scope of MISMO programs and projects.
- All funds remitted by an organization are paid directly to MISMO for investment in its standards development programs.
- MERSCORP will not collect nor receive any funding from the fee.
- Lenders that pay the Innovation Investment Fee will receive a license for the calendar year to use and implement MISMO standards for non-commercial purposes. Lenders that pay $1,000 or more will be recognized as MISMO membersand receive commensurate benefits. Lenders who pay more will receive enhanced benefits. If your invoice is less than $1,000 and you would like to become a MISMO member reach out to [email protected] for instructions. To fuel progress towards MISMO’s ongoing initiatives, the minimum suggested payment for 2025 is $1,000.
- Payment Remittance Information is available including instructions for ACH payments and payments less than $250.
- Third Party Vendor Management System Information is available including the MISMO W-9 and our account information sheet which contains helpful information for setting MISMO up in your vendor management system.
Call to Action for Lenders
- Lenders are encouraged to include the MISMO Innovation Investment Fee in their budget planning.
- Lenders are encouraged to set up MISMO as a valid vendor within their Vendor Management systems. Information to support set up is available here. Inquiries for additional information should be sent to MISMO at [email protected].
- Lenders are encouraged to set up a process to manage the processing of the annual invoice.
Pay the Innovation Investment Fee and Support the Future of the Mortgage Finance Industry
MISMO is leading efforts to enable lenders and market participants to reduce costs, improve efficiency, enhance interoperability, and create a better mortgage experience for consumers and all parties involved in a real estate transaction. MISMO provides a standard language for the exchange of mortgage finance information. The industry's drive for innovation through collaboration has produced efficiency, consistency, cost savings and consumer benefits through all aspects of the mortgage process. Read more about MISMO’s recent accomplishments here.
Your investment in MISMO funds the standards work that will lead to a mortgage market that performs better for us all. To continue meeting the needs of lenders and other industry participants, this consistent funding mechanism is essential. Thank you for your support of MISMO through the Innovation Investment Fee.