MISMO Releases FRAME: Framework for AI Governance in Mortgage Lending
WASHINGTON, D.C. (June 11, 2026) – MISMO, the real estate finance industry’s standards organization, today announced the launch of the MISMO Framework for Responsible AI in the Mortgage Ecosystem (FRAME), an AI governance toolkit designed to help mortgage companies of all sizes establish policies, procedures, controls, and oversight for the responsible use of artificial intelligence. FRAME is now available to MISMO member companies through MISMO Connect.
FRAME was introduced earlier this month during MISMO’s Spring Summit in Louisville, Kentucky, where attendees received an in-depth review of the framework, its implementation artifacts, and its intended use across the mortgage ecosystem. Initial feedback from lenders, servicers, technology providers, compliance professionals, and other industry participants has been overwhelmingly positive.
As artificial intelligence becomes increasingly embedded throughout mortgage operations, mortgage companies face growing pressure to establish governance structures capable of managing AI-related risks while supporting innovation. FRAME was developed to help organizations meet that challenge.
Developed in collaboration with MISMO's AI Community of Practice, FRAME offers mortgage-specific guidance aligned with broader AI governance standards. The framework is designed to be practical, scalable, and accessible for organizations at any stage of their AI governance journey. The idea for a mortgage-specific AI framework originated with the Mortgage Bankers Association’s (MBA) Residential Board of Governors (RESBOG), which asked MISMO to lead the effort.
“RESBOG recognized early that our industry needed practical guidance for responsible AI adoption,” said Dan Sugg, 2026 RESBOG Chairman, and Chief Mortgage Lending Officer of Michigan First Credit Union. “Mortgage companies are increasingly utilizing AI-enabled systems, and they need a framework that helps them manage risk while supporting innovation. This is a perfect example of MISMO fulfilling its mission of serving the industry through collaboration and practical standards development.
The framework includes a Governance Policy template, AI System Inventory, and an AI System Risk Assessment along with implementation guidance and a Getting Started Guide designed to help organizations inventory, assess, monitor, and govern AI-enabled systems used throughout their businesses.
“FRAME is fundamentally a risk management tool,” said Rick Hill, a key contributor to the framework and MBA’s Vice President of Industry Technology. “The goal is not to create new regulations or additional bureaucracy, but to help mortgage companies understand where AI is being used, assess the risks associated with those use cases, document their decision-making, and establish a repeatable governance process. Organizations cannot manage risk they cannot see, and FRAME provides a practical path to identifying, understanding, and managing AI risk across the enterprise.”
“As AI adoption expands throughout the mortgage ecosystem, it is important that we engage with regulators, GSEs, investors, and other stakeholders,” said Brian Vieaux, MISMO President. “The feedback we receive from these organizations will help us continue to refine and strengthen FRAME over time. Our goal is to create a practical framework that lenders can use today while helping build broader understanding and acceptance across the industry.”
Access to the framework is included as a member benefit and reflects MISMO’s ongoing commitment to helping the industry address emerging operational, compliance, and technology challenges. To access FRAME, log into MISMO Connect, MISMO’s Members-only website.
To help organizations explore the framework in greater depth, MISMO will host a four-hour interactive workshop at the MISMO Fall Summit, August 24-27 in Reston, Virginia. The workshop is included with Summit registration, and a special one-day pass option will be available for those interested in attending only the FRAME workshop and AI Community of Practice on August 24.
To learn more about FRAME, MISMO membership, or how your organization can participate in future development efforts, email [email protected].