MISMO Seeks Public Comment on New Logical Data Model
MISMO®, the mortgage industry standards organization, announced release of an update to the MISMO Logical Data Model for a 30-day public comment period.
This update incorporates feedback that was received during the initial comment period, which requires MISMO to issue the update for an additional public comment period. The comment period will remain open until December 23. Any comments received will be reviewed and addressed, after which the Logical Data Model is expected to be elevated to “Candidate Recommendation” status.
For this update to the LDM, changes were made to enhance usability. Specifically, presentation of container and data point names are now displayed in a business-friendly format consistent with the presentation of text in a newspaper or book. A few minor updates were also made to correct errors identified during the review process.
The new LDM is completely different from models previously issued by MISMO and is intended to support any technology that a company might choose to use. The new LDM will support XML, as MISMO has always done, and will also support JSON, which is the technology of choice for mobile transactions. The LDM will make it easier for organizations to communicate regardless of the technologies they choose to use for communicating with business partners.
Created through MISMO’s Logical Data Model Redesign Development Workgroup, MISMO’s LDM was built using Unified Modeling Language (UML®) 2.5, a common standard created by the Object Management Group®. UML consists of an integrated set of diagrams that helps users specify, visualize, construct and document software or business systems.
MISMO has also created a set of user guidelines to help industry participants adopt and implement the LDM in their business processes. To view or download the new proposed LDM or user guidelines, visit: http://www.mismo.org/standards-and-resources/residential-specifications/logical-data-model. Industry participants who have comments or questions about the new LDM can contact MISMO at email@example.com.
Release and use of MISMO standards and other resources, including the new Logical Data Model , are governed by the MISMO Intellectual Property Rights Policy. For more information on the MISMO IPR policy and related licenses, click http://www.mismo.org/x242632.
For more information about MISMO, visit www.mismo.org.