MISMO Seeks Member Comment on Enhanced Logical Data Dictionary
MISMO® announced it is seeking member comment on its Enhanced Logical Data Dictionary (ELDD) for a 60-day comment period.
The Enhanced Logical Data Dictionary is an updated and user-friendly resource for business and technology professionals. A companion document to Version 3.5 of the MISMO Logical Data Model, the enhanced LDD allows for easier data searching, sorting, and filtering and shows how each data element fits into the LDM, XML Schema and API Toolkit. Business analysts can use the ELDD to easily find out which data elements are available within the MISMO Reference Model and where they are located.
The 60-day comment period for the MISMO Enhanced Logical Data Dictionary ends May 25.
Several key updates to the MISMO ELDD version 3.5 will make it easier for business and technology professionals to find and use the data in the MISMO Reference Model and to search for terms and definitions.
These updates include:
- Hyperlinks that allow easy access and navigation from one related definition to another;
- Ability to speed up the business process by allowing users to look up terms and definitions without having to understand technical details;
- Option for users to find the data elements that are relevant to particular business scenarios and understand how they fit into the MISMO model;
- Capability to easily import data into other tools or databases due to its one-value, one-cell atomic structure.
The comment period for this resource also allows workgroup participants who participated on the proposal a notice period prior to final release, in order to review the information and disclose any applicable Patent Rights (as defined by MISMO’s 2018 Intellectual Property Rights Policy).
MISMO® is the standards development body for the mortgage industry. MISMO developed a common language for exchanging information for the mortgage finance industry. Today, MISMO standards are accepted and deployed by every type of entity involved in creating mortgages, and they are required by most regulators, housing agencies and the GSEs that participate in the industry. Use of MISMO’s standards has been found to lower per loan costs, improve margins, reduce errors and speed up the loan process by reducing manual, paper-based processes while creating cost savings for the consumer. MISMO is a subsidiary of the Mortgage Bankers Association.