MISMO Committee Elects New Chairman

The Residential Standards Governance Committee of the ""Mortgage Industry Standards Maintenance Organization"":http://www.mismo.org/default.htm (MISMO) has elected Randy Gilster as its chairman.

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Gilster, a 20-year financial services veteran, is SVP of business capability development at Wells Fargo Home Mortgage. There, he is responsible for overseeing content management across loan lifecycles as well as strategy and financial reform assessments.

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Throughout his career, he has held executive roles in business and technology operations, managing origination, servicing, and default solutions.

""On behalf of MISMO, I would like to congratulate Randy on his election to chair of the Committee,"" said MISMO EVP Richard Hill. ""We look forward to working with Randy to continue evolving the standards to meet the needs of the mortgage industry.""

As chairman, Gilster will fill the remainder of the term left unfulfilled by the departure of Harry Gardner, who was appointed to MISMO's board of directors.

""I'm honored to assume these responsibilities at a time of great transition within the mortgage industry,"" Gilster said. ""MISMO is an incredible asset to the industry and ultimately to the consumers of mortgage credit. As the industry works towards compliance with new regulations and initiatives, MISMO will be an integral part of the solution. We will continue to build on the incredible efforts of those who have contributed to the MISMO standards over the last decade.""