Using the MISMO Reference
Model
Greg Alvord, Dave Krause
Architecture Committee
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
Agenda
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The Business Problems
Reference Model Approach
The Model
The Artifacts
Leveraging the Model and Artifacts
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
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
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
Business Problems
• Systems built in Silos
• Organizations build as fiefdoms
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
MISMO Shared the Problems
V2.x Focus
• Single Loan Services
– Credit
– MI
– Flood
– Title
– AUS
– Close a Loan
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
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
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
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.”
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
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.
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
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.
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
V3.2
• Adds complex type wrapper on each
enumerated type.
– Xlink end point
– SensativeIndicator
• xsd:anyAttribute – All data types
– namespace=‘##other’
– processContents=‘lax’
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
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
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
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
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
V3.2 Use Cases
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Credit
MI
Flood
Title
Loan Delivery
Servicing Transfer
AUS
Order documents
Receive documents
• Order Appraisal
• Receive Appraisal
forms and data
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
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
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
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.
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
Common Models
• ADDRESS wherever used is the same
• NAME wherever used is the same
• INDIVIDUAL or LEGAL_ENTITY
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
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
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
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/@OriginalCreatorDigestVal
ue with the digest value of the referenced
object.
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
PARTY
• Common structure for all parties to the
transaction
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
Three Root elements
• MESSAGE
• DOCUMENT
– When a document is located separate from
the MESSAGE
• DEAL
– When a document is located separate from
the MESSAGE
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
MESSAGE
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
DEAL
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
DOCUMENT
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
The Artifacts
• LDD
– One Excel File
– Several Tabs ( Chapters)
• Data points, definitions, where used.
– Enumerations and there definitions
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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
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
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)
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
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
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
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
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
Based on MISMO v3.x
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida
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
MISMO Trimester Meeting
January 23-27 2012 Jacksonville Florida