MISMO®, the mortgage industry’s standards organization, announced the release of a new MISMO logical data model (LDM) for a 90-day public comment period. The comment period remains open from today until August 12. Any comments received will be reviewed and addressed, after which the standards are expected to be elevated to ‘Candidate Recommendation’ status.

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 utilize. 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. LDM will make it easier for organizations to communicate regardless of the technologies they choose to use.

“The new LDM provides a technology-agnostic view of the MISMO standards,” said Richard Hill, Executive Vice President, MISMO, and Vice President, Industry Technology of the Mortgage Bankers Association (MBA). “Technology changes rapidly, as evidenced by our industry’s evolution towards supporting mobile applications to serve consumers. The new LDM ensures that MISMO will continue to help organizations communicate more efficiently, as new technologies are introduced and evolve.”

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 info@mismo.org.

In addition to allowing public comment, the comment period is intended to afford work group participants – those who worked on the LDM at least thirty days’ notice prior to the final release of these products – to review and disclose any applicable Patent Rights (as defined by MISMO’s 2018 Intellectual Property Rights Policy).

At this time, MISMO also requests that any non-participant organization that may have any patent or patent applications, or other intellectual property rights that might be infringed upon by an organization that uses or is compliant with these proposed MISMO products, to disclose them at this time in writing. All comments and disclosures should be directed to info@mismo.org.