MISMO® Issues Next-Gen Logical Data Model
WASHINGTON, D.C. (October 22, 2020) - MISMO®, the mortgage industry's standards organization, today announced the availability of its new MISMO logical data model (LDM) as the next generation of the MISMO data exchange. The new LDM is different from previous models in that it is designed to support any technology a company may choose to utilize. This includes support for XML, as MISMO has always done, and also for JSON, which is the technology of choice for mobile transactions.
"The expanded capabilities of the LDM will make it easier for organizations to communicate with their business partners, which will lead to greater efficiencies within our industry," said Randy Poirier, Vice President of Data Solutions at Black Knight and Chair of MISMO's Residential Standards Governance Committee. "Given the expanded use of mobile devices, it was essential that MISMO expand the LDM capabilities in support of this growing mobile communication trend within the mortgage industry."
Created through MISMO's Logical Data Model 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.
MISMO is in the process of developing an LDM-specific logical data dictionary (LDD) to accompany the LDM which is expected to be available soon.
The LDM is being released in Candidate Recommendation status which means that it has been thoroughly reviewed by a wide range of organizations and industry participants and MISMO believes that it is ready for industry use. MISMO has created a set of user guidelines to help industry participants adopt and implement the LDM in their business processes.
An expanded package of documents is available to MISMO members. The expanded package includes everything available for public comment plus a .eap (SPARX) version of the LDM; and an .XMI file with class diagrams. To view or download the new LDM visit this site.
The release and use of MISMO standards and other resources, including the new Logical Data Model, are governed by the MISMO Intellectual Property Rights (IPR) Policy. For more information on the MISMO IPR policy and related licenses, please visit here.
Questions about the MISMO logical data model should be sent to email@example.com.
For more information about MISMO, visit www.mismo.org.