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Using the MISMO Reference Model

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

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Using the MISMO Reference Model

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  1. Using the MISMO Reference Model

    Greg Alvord, Dave Krause Architecture Committee
  2. Agenda The Business Problems Reference Model Approach The Model The Artifacts Leveraging the Model and Artifacts
  3. 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
  4. Business Problems Systems built in Silos Organizations build as fiefdoms
  5. MISMO Shared the Problems V2.x Focus Single Loan Services Credit MI Flood Title AUS Close a Loan
  6. 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
  7. 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.”
  8. 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.
  9. 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.
  10. V3.2 Adds complex type wrapper on each enumerated type. Xlink end point SensativeIndicator xsd:anyAttribute – All data types namespace=‘##other’ processContents=‘lax’
  11. 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
  12. 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
  13. Credit MI Flood Title Loan Delivery Servicing Transfer AUS Order documents Receive documents Order Appraisal Receive Appraisal forms and data V3.2 Use Cases
  14. 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
  15. 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.
  16. Common Models ADDRESS wherever used is the same NAME wherever used is the same INDIVIDUAL or LEGAL_ENTITY
  17. 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
  18. 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.
  19. PARTY Common structure for all parties to the transaction
  20. Three Root elements MESSAGE DOCUMENT When a document is located separate from the MESSAGE DEAL When a document is located separate from the MESSAGE
  21. MESSAGE
  22. DEAL
  23. DOCUMENT
  24. 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
  25. 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)
  26. 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
  27. 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
  28. Based on MISMO v3.x
  29. Contact Information Greg Alvord Senior Data Architect RealEC Technologies gregory.alvord@RealEC.com David Krause AVP Client Services Radian Guaranty, Inc david.krause@radian.biz
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