Abdias Lira Wolters Kluwer Financial Services. Background and Overview Common Workflows Feature...

Abdias LiraWolters Kluwer Financial Services

Background and Overview Common Workflows Feature Comparison

Multiple inconsistent, conflicting ways of representing common business objects◦ 14 different definitions for Loan, Borrower, Property, etc…◦ Little sharing across MISMO process area workgroups

Same problem also exists for documents◦ Most MISMO V2 messages have provisions for delivering documents◦ Each workgroup developed its own definition in V2

SMART Doc® 1.x PRIA_DOCUMENT EMBEDDED_FILE

A uniform way of representing a document across all MISMO V3 Messages

Standard view◦ Like: PDF, XHTML, TIFF, ODF, OOXML

Complemented with◦ Easily accessible data (loan, recording, etc)◦ Data-view map (e.g., XSLT 2.0 Transform)◦ Electronic signatures ◦ Tamper-evident seals◦ Audit trail

Uniform placement of documents in all MISMO V3 messages

XML Data

Map(Boiler-plate + Mapping Rules)

PopulatedView

XML Data Trusted Template(Blank, Tagged View)

Map(Data Mapping Rules)

PopulatedView

Doc PrepDisclosureDelivery

Portal

Accepted eDisclosurePopulated eDisclosure

Lender Closing Agent

Final HUD-1 Data Regenerated View

Modified Fee DataRegenerated View

Initial HUD-1 SDV3Partially Signed Data

Doc Prep Closing Platform Investor

Signed, Tamper-Sealed eNotePopulated, Unsigned eNote

Doc Prep

Closing Platform

Recorder

PRIA V2 Request

PRIA V2 Response

Doc Prep

RecorderClosing Platform

PRIA V3 Request

PRIA V3 Response

Support for tagged (XHTML, SVG) and image (PDF) views

Customized XHTML DTD

No support for pages breaks

One view per document, one file per view

Support for any view format without requiring changes to the Document schema

Standard XHTML DTD

Support for page breaks for both paginated and continuous file formats

Multiple view versions, multiple files per view version, shared files across views

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Embedded dataset

Extension via embedded DTD and custom properties

MISMO-specific mapping language (arcs)

Data-view validation

Embedded, remote, or shared dataset

MISMO V3 standard EXTENSION element on every container

MAP section supports any transformation technology, e.g. XSLT 2.0.

Data-view validation plus trusted templates

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Signature fields only

Signer and signature type pre-wired at document creation

Improved field support◦ Signature fields (notary, witness,

initials, optional signatures, choice groups)

◦ Interactive fields◦ Recording endorsement fields

Separate containers for proposed and actual signatory information

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No standard support for authentication persistence

No standard data field for signature venue, date and time

No standard way of specifying the acceptable singing method

Authentication information can be encrypted and stored directly into the document

Multiple-occurring execution data container

Support for specifying the acceptable signing method for each document◦ Electronic, wet, any, none

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No standard support for evidence logs

Allows for capturing any form of evidence logs (screen shots, video, etc…)

Audit trail evidence logs and embedded in the document and can be transferred with the document

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eMortgage Package 1.x MISMO Version 3 Message

Package specification was isolated from other MISMO specs

DTD-Based

Self-contained, XML-only messages

Integrated into the MISMO Reference Model

Schema-based

Embedded, serialized, or remote resources

Support for zip archives

Better support for collaborative processes

Improved security and enforceability

Better support for third party standards: W3C Schemas, PDF, XHTML, D-SIG, XSLT-2

Integrated with MISMO V3 Reference Model◦ Interoperability, reusability, extensibility◦No separate adoption path for SMART Docs®

abdias.lira@wolterskluwer.com