John Cirincione copyright, Tel 330.656.2020 The Drive Towards Data Standards in the Mortgage Industry John Cirincione, SRA Technology and MISMO Representative,

John Cirincione copyright, Tel 330John Cirincione copyright, Tel 330.656.2020.656.2020

The Drive Towards The Drive Towards Data Standards Data Standards

in the Mortgage Industryin the Mortgage Industry

John Cirincione, SRAJohn Cirincione, SRATechnology and MISMO Representative, Technology and MISMO Representative,

Appraisal Institute Appraisal Institute

Location Intelligence Conference Location Intelligence Conference April 3-5, 2006, San Francisco, CAApril 3-5, 2006, San Francisco, CA


MISMOMISMO(Mortgage Industry Standards Maintenance (Mortgage Industry Standards Maintenance

Organization)Organization)

• Established by MBA in 1999 Established by MBA in 1999

• Coordinate development and Coordinate development and maintenance of XML real estate finance maintenance of XML real estate finance specifications.specifications.

• 30+ Workgroups30+ Workgroups

• 5,000+ data points in the standard.5,000+ data points in the standard.


MISMO REPIMISMO REPI(Real Estate Property Information Workgroup) (Real Estate Property Information Workgroup)

• REPI is 1 of 30+ Workgroups in MISMO REPI is 1 of 30+ Workgroups in MISMO

• Focus on real estate property & appraisal.Focus on real estate property & appraisal.

• Creates data standards & business Creates data standards & business definitionsdefinitions


Core Data

Residential Process Area Workgroups

Governance

Origination

Closing Servicing

Mortgage App Secondary

InformationSecurity

Board of Directors

UnderwritingReal Estate Services

MI

Credit

TitleAppraisal & Property

FloodTax Hazard

Multi-Services

eMortgage

PRIA

SMART Doc

ePackaging

eMessaging

ROI

I-Guide

eRecording

eNotarization

eVaulting

AppraisalInstitute

Logical Data Dictionary

Commercial

eMortgage

Servicing

Origination

Core Data

LDD

Architecture

Core Structures

Enveloping

Commercial Architecture

SISAC

ALTA

SPeRS

CMSANNA

USNA

MISMO Data Standards Organizational MISMO Data Standards Organizational StructureStructure

OGC (Collaboration

Stage)


MISMO Policy Structure MISMO Policy Structure OverviewOverview

- - “parts of MISMO’s standards body “parts of MISMO’s standards body infrastructure”infrastructure”

• Privacy Privacy

• Terms of UseTerms of Use

• Antitrust Antitrust

• Intellectual Property Rights (IPR)Intellectual Property Rights (IPR)

• ProceduresProcedures


OGC–Appraisal Institute-MISMO OGC–Appraisal Institute-MISMO DiscussionsDiscussions

• OGC knows geospatial web interface OGC knows geospatial web interface specifications.specifications.

• MISMO knows mortgage industry standards.MISMO knows mortgage industry standards.

• Appraisal Institute knows real estate Appraisal Institute knows real estate property.property.

• Bandwidth barriers are diminishing by the Bandwidth barriers are diminishing by the day.day.

• Seek champions to define ‘software Seek champions to define ‘software interfaces’ interfaces’ W

eb UnifiedEnvironment

Real tim

e

www.opengeospatial.org www.mismo.orgwww.appraisalinstitute.org

http://www.opengeospatial.org/

http://www.mismo.org/

http://www.appraisalinstitute.org/


Database

Attributes

+

Mapping

GIS = Map + AttributesGIS = Map + Attributes

-- “leveraging the common location “leveraging the common location component from a data standard”component from a data standard”


Real Estate Property is the Real Estate Property is the core component within the core component within the

MISMO REPI WorkgroupMISMO REPI WorkgroupProperty

Property Characteristics

Common Property Description across all process areas

Inspection Information


The Intelligent Document The Intelligent Document (PDF+XML)(PDF+XML)

““To put it simply, To put it simply, Intelligent Intelligent Document Driven Document Driven Integration Integration …provides the …provides the ability for enterprises to ability for enterprises to publish well-formatted publish well-formatted electronic documents (so-electronic documents (so-called ‘information called ‘information containers’) with which containers’) with which customers can interact, and customers can interact, and that can interact with back-that can interact with back-end company systems.”end company systems.”

– Wall St & Technology, Mark Wall St & Technology, Mark Davydov (Bank of America)Davydov (Bank of America)

Process Meta Data

Document Meta Data

Form Data

Core Content

XML

META Group



PhotosPhotos

Pulldowns for Pulldowns for description & description & identificationidentification


SketchesSketches

Zoom in to highlight detailZoom in to highlight detail


Create GeoPDF Reader Enable and GeoEnable

Redline & Mark Up GeoPDF Using Adobe Reader.With MAP2PDF for

Acrobat Export updates as in GIS format

GIS

GIS FOR THE BUSINESS ENTERPRISE

Geo-registered PDF Map Concept


Questions?Questions?

John CirincioneJohn CirincioneTel 330.656.2020Tel 330.656.2020

[email protected]@propertyappraisal.com

www.appraisalinstitute.comwww.appraisalinstitute.com

Documents

John Cirincione copyright, Tel 330.656.2020 The Drive Towards Data Standards in the Mortgage Industry John Cirincione, SRA Technology and MISMO Representative,