Abdias Lira
MISMO Trimester Meeting Orlando, FL
January/2008 eMortgage Workgroup 1

• Milestones, current work and plans
• Business drivers
• SMART Doc® 3 structure overview
• Use cases HUD-1, Recordable Document, eNote eMortgage Workgroup 2

• Sep/2006
– Initial meetings
• Jan/2007
– Defined scope
• May/2007
– Approved compound document and XLS-T 2.0 approaches
• Aug/2007
– Approved approach for
MISMO V3 Package
– Baselined HUD-1 use case
• Jan/2008
– Baselined recordable documents use cases
– Baselined eNote
Requirements and use cases eMortgage Workgroup 3

• eNotarization requirements and use cases
• eSignature requirements and reconciliation
• Looking for other major use cases
• Draft MISMO Package 3 specification and schemas
• Draft SMART Doc® 3 Specification and schemas eMortgage Workgroup 4

• Finalize requirements and use cases documents
• Discuss with MISMO Architecture Workgroup
– Relationships, XLink
– Element-based schema approach
– Use of EXTENSION in SMART Doc® 3 schemas
– DEAL element containment and contents
• Review specifications and schemas
• Create sample documents for the use cases
• Present proposals at the May ‘08 Trimester eMortgage Workgroup 5

• Better support for collaborative workflows
• Resilience to dataset schema changes
• Use of W3C Schemas eMortgage Workgroup 6

• A standards-based view
– Like PDF, HTML, TIFF
• Complemented with
– MISMO specific document-level metadata
– Easily accessible data (loan, recording, etc)
– Electronic signature attributes
– Tamper-evident seals
– Audit trail
– View versions
– … eMortgage Workgroup

• Document is divided into small, cohesive parts
– Each part may have its own schema, DTD, and namespace
– Each part can be validated independently
• Parts are packaged into a MISMO Package 3
– ZIP (similar to ISO ODF, ECMA OOXML)
– XML with embedded encoded elements
– W3C XOP
– File system eMortgage Workgroup

Metadata
ContentDescription.xml
DocumentInfo.xml
SmartDocCore.xml
SmartDocAuditTrail.xml
Signatures
Signature-1.xml
View
View.pdf
eMortgage Workgroup

1. Lender
1. Creates initial data file
2. Creates XSL-T stylesheet
3. Generates the populated View using the stylesheet
4. Seals the stylesheet and selected parts of the data
3. Lender
1. Validates data file against business rules
2. Validates tamper seals
3. Generates final View using the
XSL-T stylesheet
4. Seals data and non-signature portions of the view
5. Sends document to the closing room
2. Settlement Agent
1. Adds to or modifies the data file
2. Generates new populated View using the XSL-T stylesheet
4. Closing Room
1. Presents document to the borrower for signing
2. Seals the entire view eMortgage Workgroup

Metadata
ContentDescription.xml
DocumentInfo.xml
SmartDocCore.xml
SmartDocAuditTrail.xml
Signatures
Signature-1.xml
Signature-2.xml
Data
LoanData.xml
Map
Hud-transform.xsl
View
View.htm

1. Lender
1. Creates document view and loan data file
2. Seals the data
3. Seals the view, excluding signature areas
2. Closing Room
1. Presents document to the borrower and notary for signing
2. Creates notary data file
3. Seals the notary data and the view
4. Generates a TIFF image of the view and send it to the recorder
3. Recorder
1. Applies the recording endorsement to the TIFF image
2. Send recorded image and data back to the requester
4. Closing Room
1. Embeds the recording data and recorded image into the SMART
Doc®
2. Seals the recording data file and the recorded view eMortgage Workgroup

Metadata
ContentDescription.xml
DocumentInfo.xml
SmartDocCore.xml
SmartDocAuditTrail.xml
Signatures
Signature-1.xml
Signature-2.xml
Signature-3.xml
Data
LoanData.xml
NotaryData.xml
RecordingData.xml
View
View.pdf
RecordedView.tif

1. Lender
1. Creates document view and loan data file
2. Seals the data
3. Seals the view, excluding signatures area and recording endorsement area
2. Closing Room
1. Presents document to the borrower and notary for signing
2. Creates notary data file
3. Seals the notary data and the view, excluding recording endorsement area
3. Recorder
1. The Recorder verifies that the document meets the requirements for recordation.
• A manual process in which a clerk looks at document view to verify the information,
• A lights out process that runs business rules against the supplied loan and notary data, or
• A combination of both.
2. Creates recording data file
3. Populates recording endorsement area on the view
4. Seals recording data file and the entire view eMortgage Workgroup

SMART Doc® 1 - Equivalent Validation
1.
Regenerate the view using the provided template/stylesheet
2.
Compare the result with the provided View
Limitations:
– No automated way to verify that the transformed data is in the right place in the view and it is not masked, covered or decorated
– No automated way to verify that the language on the document is correct
– Requires manual verification of each document if more strict validation is desired eMortgage Workgroup 15

1. Check if provided template/stylesheet is already in the trust repository
• If it is not, manually inspect the template/stylesheet and store it in the trust repository
2. Regenerate the view using the trusted template/stylesheet
3. Compare the result with the provided view eMortgage Workgroup 16

– eMCIT
– E-Signatures
– General SMART Doc® V3 eMortgage Workgroup 17

eMortgage Workgroup 18