MISMO Update

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MISMO Update

• MBA Technology Conference
• March 16, 2004
• David Barkley
• Director eCommerce Relations
• Freddie Mac

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Pieces of the Puzzle
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Functional Mapping
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Freddie Macs Focus

• Building quality data standards
• Ensuring Data Security
• Enabling eMortgages eNote Registry

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MISMO Deliverables

• Industry Business Data Dictionary
• Industry standard XML Document Type Definitions
  (DTD), Schemas specifications
• Engineering guidelines for creating DTD/Schemas
• Implementation guides to build MISMO standard
  transactions (by process area)

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Mortgage Processes MISMO
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Scope of Servicing

• Servicing process area includes
• Loan setup
• Investor Accounting
• Investor reporting
• Default reporting
• Servicing transfer
• Data Item Change (for any process)

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Status of MISMO Servicing

• Servicing Transfer New Loan Set Up
• Version 2.1 final available
• Version 2.3 Workgroup approval this month, MISMO
  approval expected in April (reflects data changes
  expanded capabilities)
• Investor Accounting (Investor Default
  Reporting)
• Version 2.3 Workgroup approval this month, MISMO
  approval expected in April
• Investor Servicing Transfer Request
• Version 2.3 approved by MISMO, ready for
  publication
• Data Item Change work in progress

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Scope of Secondary

• Secondary Process Area includes
• Product and pricing description for POS and
  secondary sale
• Secondary loan delivery
• Bulk loan sales

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Status of MISMO Secondary

• Pricing Request Response Dataset being reviewed
  by Core Data Workgroup
• Loan Delivery Dataset in development
• Interim Workgroup meetings defining common
  business data developing data structure
• Draft for official MISMO review by May meeting
• Final version 2.x available by 3rd Quarter

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Data Standards Priorities

• Freddie Mac using MISMO AUS Version 2.3.1 for
  Loan Prospector
• Defining Secondary Delivery Data set with MISMO
  Secondary Workgroup for use in new selling system
• Supporting Origination, Secondary, Servicing,
  Architecture, Core Data Workgroups and Governance
  Committee

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Ensuring Data Security

• Active member in MISMO Security work groups
• Assisting MBA in Accrediting Secure Identity
  Issuing Authorities
• Enhancing infrastructure to include digital
  signatures, encrypted XML, tamper seals

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Enabling eMortgages

• Participating in MERS development of national
  eNote Registry
• Finalizing uniform legal language in electronic
  note
• Supporting 2nd draft of SPeRS
• Transitioning eMortgage Program Office to
  eCommerce Relations Team

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MISMO A Team Effort

• Freddie Mac actively engaged with MISMO to
  develop technical standards for
• Data Standards
• Data Security Secure Identity
• eMortgages eNote Registry

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Further Information

• MISMO web site www.MISMO.org
• David Barkley 703-903-2104
• Freddie Mac Director eCommerce Relations
• MISMO Governance Committee Chair
• Ted Adams 703-903-2065
• Freddie Mac Director Technology Standards
• MISMO Core Data Chair

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