eMortgage Workgroup

SMART Doc™ 3.0Overview

Abdias LiraMISMO Trimester Meeting Orlando, FL

January/2008

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Agenda

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

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SMART Doc® 3 Milestones so Far• 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

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Current Work

• 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

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The Road Ahead• 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

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Business Drivers

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

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What is a SMART Doc® 3.0?

• 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– …

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Compound Document Structure• 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

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Sample SMART Doc® 3 Document

ContentDescription.xml

DocumentInfo.xml

SmartDocCore.xml

SmartDocAuditTrail.xml

Metadata

View

View.pdf

Signatures

Signature-1.xml

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HUD-1 Use Case Scenario1. Lender

1. Creates initial data file 2. Creates XSL-T stylesheet 3. Generates the populated View

using the stylesheet4. Seals the stylesheet and selected

parts of the data

2. Settlement Agent1. Adds to or modifies the data file2. Generates new populated View

using the XSL-T stylesheet

3. Lender 1. Validates data file against

business rules2. Validates tamper seals3. Generates final View using the

XSL-T stylesheet4. Seals data and non-signature

portions of the view5. Sends document to the closing

room

4. Closing Room1. Presents document to the

borrower for signing2. Seals the entire view

Sample HUD-1

ContentDescription.xml

DocumentInfo.xml

SmartDocCore.xml

SmartDocAuditTrail.xml

Metadata

Data

LoanData.xml

Map

Hud-transform.xsl

View

View.htm

Signatures

Signature-1.xml

Signature-2.xml

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TIFF Delivery Recording Scenario

1. Lender 1. Creates document view and loan

data file 2. Seals the data 3. Seals the view, excluding

signature areas

2. Closing Room1. Presents document to the

borrower and notary for signing2. Creates notary data file3. Seals the notary data and the

view4. Generates a TIFF image of the

view and send it to the recorder

3. Recorder1. Applies the recording

endorsement to the TIFF image2. Send recorded image and data

back to the requester

4. Closing Room1. Embeds the recording data and

recorded image into the SMART Doc®

2. Seals the recording data file and the recorded view

Sample Recorded Document

ContentDescription.xml

DocumentInfo.xml

SmartDocCore.xml

SmartDocAuditTrail.xml

Metadata

Data

LoanData.xml

NotaryData.xml

RecordingData.xml

View

View.pdf

RecordedView.tif

Signatures

Signature-1.xml

Signature-2.xml

Signature-3.xml

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SMART Doc® 3 Delivery Recording Scenario

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 Room1. Presents document to the

borrower and notary for signing2. Creates notary data file3. Seals the notary data and the

view, excluding recording endorsement area

3. Recorder1. 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 file3. Populates recording

endorsement area on the view4. Seals recording data file and the

entire view

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E-Note Data-View Validation, Option I SMART Doc® 1 - Equivalent Validation

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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

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Data-View Validation Option II

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

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Help Wanted

• Tuesdays 2pm ET – eMCIT

• Wednesdays 2pm ET – E-Signatures

• Thursdays 1pm ET– General SMART Doc® V3

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Questions

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