MISMO® Services
The mortgage industry is ever changing in today’s world driven by regulatory changes, investor requirements and consumer demands. It is more important than ever to exchange data in a flexible and standard format in order to meet these industry change events.
Actualize Consulting is the premier organization with the Mortgage Industry expertise and MISMO® expertise in the industry to affect change in your organization. Our seasoned resources understand and have implemented MISMO®standards for multiple organizations and can do the same for yours. Our level of knowledge, expertise and inclusion in the MISMO® organizational processes and reference model development provides our resources the cutting edge knowledge of both the MISMO® Reference Model and its changes along with the regulatory requirements.
MISMO® is a governing body and consortium that leads the mortgage industry standards definition of terms, term definition, B2B electronic transfer of Mortgage data and engineering guidelines. The MISMO® model is a comprehensive set of data points supporting the mortgage loan life cycle. MISMO®model 3.X is viewed either in a data dictionary or use of the XML schema that can be customized to an organizations data point needs.
Actualize Consulting is the premier organization with the Mortgage Industry expertise and MISMO® expertise in the industry to affect change in your organization. Our seasoned resources understand and have implemented MISMO®standards for multiple organizations and can do the same for yours. Our level of knowledge, expertise and inclusion in the MISMO® organizational processes and reference model development provides our resources the cutting edge knowledge of both the MISMO® Reference Model and its changes along with the regulatory requirements.
MISMO® is a governing body and consortium that leads the mortgage industry standards definition of terms, term definition, B2B electronic transfer of Mortgage data and engineering guidelines. The MISMO® model is a comprehensive set of data points supporting the mortgage loan life cycle. MISMO®model 3.X is viewed either in a data dictionary or use of the XML schema that can be customized to an organizations data point needs.
Actualize Consulting has seasoned resources with the expertise in the area of transforming an organization from current state to MISMO standard compliance through the following services:
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Actualize is a Chairman Champion member of MISMO and has been heavily involved in the design, development, and roll out of the data sets within the UMDP. Actualize has worked on the Appraisal Data Set (UAD), UCDP Portal, ULDD, Servicer Data Set (UMSD), Uniform Closing Dataset (UCD) and are currently working on Uniform Residential Loan Application (URLA ). Actualize is leading an effort to move GNMA to a MISMO compliant infrastructure.
Professional Services
Strategic Planning and Gap Analysis (Planning)
- CFPB Integrated Mortgage Disclosure regulation
- Dodd Frank Requirements
- Private Label Investor Requirements
- Federal Agency Requirements (FHA and Ginnie Mae)
Download a copy of our MISMO Service Offering.
- Conduct a review of current state processes and data structures; define a strategic roadmap to transform legacy data (input and output) to the MISMO® Reference Model v3.X standards in order to transact business events
- Provide detailed program and project management materials specific to the MISMO® Transformation
- Define a business case in order to assist clients to obtain funding to support the MISMO® Transformation
- Provide guidance on industry changes for impacts of Regulatory demands, Investor and Laws
- CFPB Integrated Mortgage Disclosure regulation
- Dodd Frank Requirements
- Private Label Investor Requirements
- Federal Agency Requirements (FHA and Ginnie Mae)
- Conduct business process redesign to support the industry changes
- Define the data set to support the MISMO® standards exchange with business trading partners
- Rationalize current state database metadata and conduct data mapping to MISMO® model 3.X
- Define the data set specification for solution execution phase
- Define data migration, transformation and integration plan and approach
- Define a logical data model to support changes
- Create an XML schema and conduct XSLT File testing to ensure validation against the MISMO® model 3.X
- Define technical requirements, physical data model(s) design
- Define business and data event transaction architecture
- Implementation of Products (TransformX and DMB for MISMO® Transformation)
- Conduct a needs assessment of internal and external parties impacts
- Define a business partner adoption strategy and recommended approach to support both internal and external transformation efforts
- Develop adoption and training materials for internal and external trading partners for multiple audience levels
- Management of adoption and implementation phase
Download a copy of our MISMO Service Offering.
