MISMO Trimester Meeting January 23-27 2012 Jacksonville Florida Using the MISMO Reference Model Greg...

MISMO Trimester MeetingJanuary 23-27 2012 Jacksonville Florida

Using the MISMO Reference Model

Greg Alvord, Dave Krause

Architecture Committee


Agenda

• The Business Problems• Reference Model Approach • The Model• The Artifacts• Leveraging the Model and Artifacts


Business Problems

• Failure of Transparency Major Contributor to Meltdown– Thousand of facts gathered during Origination– Hundreds of facts transferred to Servicing– Dozens of facts used in Bond Risk

determination• 30 Year old forms inadequate to loan

products of this century


Business Problems

• Systems built in Silos• Organizations build as fiefdoms


MISMO Shared the Problems V2.x Focus

• Single Loan Services– Credit– MI– Flood– Title– AUS– Close a Loan


Solution To Lack of Transparency

• Build Transparency Into The Design• Common Business Vocabulary

– Based on common use (How do information workers think about their work)

– Extended to show distinctions• Same phrase in two silos with different meaning• Two well defined phrases


Business Semantics

• “Things that are the same have the same name. Things that are different have different names”

• “Be conservative in what you send. Be liberal in what you accept.”

• “Send what you have, I will take what I need.”


V3.x Implements Business Semantics

• A single vocabulary that crosses boundaries along the value chain.

• A single model common things in a common place. Unique things in unique place.


V3.2

• Consists of– 3205 Terms in the LDD (Up from 3151)– 924 Containers (Up from 918 )– 546 Enumerated types (Up from 525)

• Constructed over a 10 year period• Between 50,000 and 75,000 man hours• Business domain experts working with

design experts.


V3.2

• Adds complex type wrapper on each enumerated type.– Xlink end point– SensativeIndicator

• xsd:anyAttribute – All data types– namespace=‘##other’ – processContents=‘lax’


Conventions

• Data points– ALWAYS associated with a term with a

definition– UpperCamelCase– ALWAYS associated with a data type– Class words map to data types– Name less than 81 characters– Siblings of data points are other data points– Usually represented as an XML element


Conventions

• Containers– ALWAYS associated with a term– SHOULD have a definition– UPPER_CASE– Contains either data points or other

containers, never both.– Plural noun names contain collections of

singular noun containers– PARTIES/PARTY


V3.2 Use Cases

• Credit• MI • Flood• Title• Loan Delivery• Servicing Transfer• AUS• Order documents• Receive documents

• Order Appraisal• Receive Appraisal forms and data


V3.x Multiple Deal Use Cases

• Pool of Loans• Bulk Price a portfolio

– For Servicing sale– For selling the loans

• Bulk Loan Delivery to– Investor– Servicer

• Reporting – Investors– Regulators


V3.x Adds Multiple Loan use cases

• First, Second and HELOC co-originated, each in their own LOAN

• First and existing Second, each in their own LOAN– Could be going to be absorbed into the

refinance or not• The refinance being originated and the

current loan being replaced• The loan before modification and the

proposed loan after.


Common Models

• ADDRESS wherever used is the same• NAME wherever used is the same• INDIVIDUAL or LEGAL_ENTITY


EXTENSION

• Every container in the model has a child element EXTENSION

• Every container has a its own extension complex type

• Every element allows extension attriutes


REFERENCE

• REFERENCE is used is many places• At the referenced location is an element

with the same name as the REFERENCE parent

• To dereference replace REFERENCE with the children of the referenced element

• Compare the value of REFERENCE/@OriginalCreatorDigestValue with the digest value of the referenced object.


PARTY

• Common structure for all parties to the transaction


Three Root elements

• MESSAGE• DOCUMENT

– When a document is located separate from the MESSAGE

• DEAL– When a document is located separate from

the MESSAGE


MESSAGE


DEAL


DOCUMENT


The Artifacts

• LDD– One Excel File– Several Tabs ( Chapters)

• Data points, definitions, where used.– Enumerations and there definitions

• Containers definitions, where used• Deprecated Data Points• Deprecated Data Points between 3.1 and 3.2• Deprecated Containers• Deprecated Containers between 3.1 and 3.2• Arch roles


Leveraging Model & Artifacts

• LDD– Form the foundation for your internal data

dictionary• Conventions

– Rules for internal dictionary AND schema creation

– Leverage in any type of transaction (even non-business related)


Leveraging Model & Artifacts(cont)

• Send what you have, I’ll take what I need– Internal Pub/Sub model– Write Once, Consume Infinitely

• Things the same, same name. Things different, different name– Single and absolute XPath helps to limit

Change Data Capture (CDC) complexity when dealing w/ systems in silos


Leveraging Model & Artifacts(cont)

• Multiple Loan Use Case– Data from different sources represented in

same instance of the model– Easy to run decisions logic and identify data

quality issues midstream


Based on MISMO v3.x


Contact Information

Greg Alvord

Senior Data Architect

RealEC Technologies

[email protected]

David Krause

AVP Client Services

Radian Guaranty, Inc

[email protected]

mailto:[email protected]

mailto:[email protected]

MISMO Trimester Meeting January 23-27 2012 Jacksonville Florida Using the MISMO Reference Model Greg...

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