moving to version 3 09 2010

8/7/2019 Moving to Version 3 09 2010

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MISMO Trimester MeetingSeptember 27-30, 2010 Fairfax, VA

Moving to MISMO V3

I am not now

that which I have been.--Byron


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Why Move to V3?

At some point V3 will need to be integrated

No one likes change especially cranky

technology and systems Best way to move to Version 3 is education:

Identify the differences between V2 and V3

Understand how Version 3 improves and

streamlines data in your system

Examine ways to use Version 3 in your system

Empower others to learn about Version 3


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But I understand Version 2!

Is your organization currently using MISMO V2?

What other systems does your system interface to?

Do these systems support MISMO?

If so what versions?

Are you using the 2010 version of the HUD-1 Settlement

Statement or Appraisals?

Does your system create SMART Documents for

documents other than the eNote? Do you interface to Fannie or Freddie? Automated

underwriting? Delivery?


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The Differences

How the data terms are defined and published

Technology representation for the rules aboutdefining the structure

Path for each data term how to walk about theXML

Validation of the types of data

Documents

Expressing relationships Sending information to other systems in messages


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Difference #1: Publication

Publication of the standards

V2

Process area defined

V3

Subsets of a larger model


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Looking to Print Publications


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Version 2 Publications

In Version 2, the LDD contained all the

terms used by all the requests and

responses defined by the workgroups

the top levelorroot level differs dependingonwhat type was used


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MISMO V2 Publication Paths


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Logical Data Dictionary (LDD)

Different process areas within MISMO usesubsets of the LDD to createDTDs/Schemas and implementation

guides for data exchange between tradingpartners

One common data set from all workgroupsis published as the Logical Data Dictionary

or LDD The LDD is in a table format that providesdefinitions for each of the elements usedin a MISMO DTD


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MISMO LDD


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Print Publishing:

Reference for All


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MISMO V3 Publication Paths


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V3 Publication: Reference

Model In Version 3, the

reference model

defines all the

terms with a

common top level

or root element

for all MISMOdefined terms


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Difference #2: XML

Representation

Version 3 uses primarily elements

Version 2 uses primarily attributes

0001345987-CA


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Used Xpaths (walkabouts in the XML) to

define MISMO mapping to the HUD

Settlement statement for both v2 and V3

HUD Mapping for V2 and V3


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Example Mapping

V3://mismo:TERMS_OF_MORTGAGE/mismo:MortgageType='Conven

tional'

and//mismo:HUD1_DETAIL/mismo:HUD1ConventionalInsuredIndicator

='1

V2:(//MORTGAGE_TERMS/@MortgageType='Conventional' and

//RESPA_HUD_DETAIL[@_SpecifiedHUDLineNumber='B3']/@

HUD1ConventionalInsuredIndicator='Y')


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Difference #3:

mismo: huh? V2 was based on DTDs which did not play

well with something called namespaces

V3 is based on schemas which do playwell with namespaces.

What is a namespace?

A namespace is context


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Difference #4

Structure

The structure of XML is

defined in

V2 DTDs or schema

V3 Schemas

Ability to combine

collections of loans forexchange with trading

partners


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V2: Singularity

Version 2 structure is based on a single

set of information

LOAN in V2 existed as a single loan andnot in the context of being one of many

loans


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MISMO Trimester Meeting

September 27-30, 2010 Fairfax, VA

V3: Plurality

Version 3 structure is based on a plural-

singular construct for collections

LOAN is a child of LOANS


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Difference #5: Easy as ABC

V2: was mostly alphabetical for ELEMENTS

V2: attributes could appear in any order


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Alphabetical

V3 is strictly alphabetical


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Difference #6:Walkabouts

XML documents look like a sideways treeor hierarchy

Walking the XML to specify a unique data

point is accomplished by Xpath whichshow the path walked in the XML


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V2 ClosingWalkabout

In Version 2, Closing did not publish a

request and response envelope:


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V2 XMLWalkabout

In Version 2, for Closing all XPaths start at

/LOAN

/LOAN

/_APPLICATION/MORTGAGE_TERMS/@LenderLoanIdentifier


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V3 XMLWalkabout

In Version 3, XPaths may start at

/MESSAGE or /DEAL or /DOCUMENT

0001345987-CA

/DEAL/LOANS/LOAN/LOAN_IDENTIFIERS/LOAN_IDENTIFIER/LenderLoanIdentifier


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Difference #7: Validating the Data(without doing anything special)

V3 uses schemas which check for data

types

Is this a date?

Numeric only?

Any string?


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Assets and Borrowers?

How to associate: With:

?


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Difference #8: Expressing

Relationships Ability to link parts ofthe reference model

Primary Borrower

to assets and

liabilities Secondary

Borrower to assets

and liabilities


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Relationships

Associations are contained in Relationships

Collection of attributes that define

relationships between two elements andoptionally provide the type of relationship.

Uses xLink


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Xlink Attributes To/From

The value of the xlink: from represents one end

of an arc between two or more locations in the

same XML document

The value of the xlink: to represents the other

end of an arc between two or more locations inthe same XML document


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Xlink Attributes label/arcrole

The xlink:label attribute is used as an

identifier for a data point

The xlink:arcrole defines the relationshipbetween the two data points


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Xlink example

SARA

SARA G PRATTPRATT

G

ALABAMA CU


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Difference #9: Messages

V2 MISMO defined envelope

V3 uses SOAP The MISMO V3 envelope reuses the recommendations from the

W3C for SOAP, Version 1.2.


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HUD 1 mapping

Form

Additions from Origination to Reference

Model Training materials from MBA

V2 and v3 Mapping spreadsheet

Sample XML


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Happy V3 Trails

Business

V2 look for data points in the LDD; V3 look for

data points in the reference model

Plural not singular

Remember the XML structure is alphabetical

Pay attention to the data type in V3


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Conclusion

Thank you for your attention

I think the one lesson I have learned is that there is no

substitute for paying attention

-Diane Sawyer

Rachael Sokolowski

[email protected]