Abdias Lira Wolters Kluwer Financial Services

 Background and Overview  Common Workflows  Feature Comparison

 Multiple inconsistent, conflicting ways of representing common business objects ◦ 14 different definitions for Loan, Borrower, Property, etc… ◦ Little sharing across MISMO process area workgroups  Same problem also exists for documents ◦ Most MISMO V2 messages have provisions for delivering documents ◦ Each workgroup developed its own definition in V2  SMART Doc® 1.x  PRIA_DOCUMENT  EMBEDDED_FILE

 A uniform way of representing a document across all MISMO V3 Messages  Standard view ◦ Like: PDF, XHTML, TIFF, ODF, OOXML  Complemented with ◦ Easily accessible data (loan, recording, etc) ◦ Data-view map (e.g., XSLT 2.0 Transform) ◦ Electronic signatures ◦ Tamper-evident seals ◦ Audit trail

 Uniform placement of documents in all MISMO V3 messages

Document Document Classification Deal SetsMapViews … …… SignatoriesAudit Trail System Signatures

XML Data Map (Boiler-plate + Mapping Rules) Map (Boiler-plate + Mapping Rules) Populated View Populated View

XML Data Trusted Template (Blank, Tagged View) Trusted Template (Blank, Tagged View) Map (Data Mapping Rules) Map (Data Mapping Rules) Populated View Populated View

eDisclosure Workflow Doc Prep Disclosure Delivery Portal Disclosure Delivery Portal Accepted eDisclosurePopulated eDisclosure DocumentDeal SetsMapViews Populated SignatoriesAudit TrailSystem SigsDocumentDeal SetsMapViews Accepted SignatoriesAudit TrailSystem Sigs

V3 HUD-1 Workflow Lender Closing Agent Final HUD-1 Data Regenerated View Final HUD-1 Data Regenerated View Modified Fee Data Regenerated View Modified Fee Data Regenerated View Initial HUD-1 SDV3 Partially Signed Data Initial HUD-1 SDV3 Partially Signed Data DocumentDeal SetsMapViews Populated SignatoriesAudit TrailSystem Sigs DocumentDeal SetsMapViews Regenerated SignatoriesAudit TrailSystem Sigs

eNote Workflow Doc Prep Closing Platform Investor Signed, Tamper-Sealed eNotePopulated, Unsigned eNote DocumentDeal SetsMapViews Populated SignatoriesAudit TrailSystem SigsDocumentDeal SetsMapViews Signed SignatoriesAudit TrailSystem Sigs

Hybrid Recording Scenario Doc Prep Closing Platform Recorder DocumentDeal SetsMapViews Signed RecordedSignatoriesAudit TrailSystem SigsDocumentDeal SetsMapViews Populated SignatoriesAudit TrailSystem Sigs PRIA V2 Request PRIA V2 Response Signed Signatories Recorded

eRecording Workflow Doc Prep DocumentDeal SetsMapViews Signed SignatoriesAudit TrailSystem SigsDocumentDeal SetsMapViews Populated SignatoriesAudit TrailSystem SigsDocumentDeal SetsMapViews Signed RecordedSignatoriesAudit TrailSystem Sigs Recorder Closing Platform PRIA V3 Request PRIA V3 Response

 Support for tagged (XHTML, SVG) and image (PDF) views  Customized XHTML DTD  No support for pages breaks  One view per document, one file per view  Support for any view format without requiring changes to the Document schema  Standard XHTML DTD  Support for page breaks for both paginated and continuous file formats  Multiple view versions, multiple files per view version, shared files across views 18

 Embedded dataset  Extension via embedded DTD and custom properties  MISMO-specific mapping language (arcs)  Data-view validation  Embedded, remote, or shared dataset  MISMO V3 standard EXTENSION element on every container  MAP section supports any transformation technology, e.g. XSLT 2.0.  Data-view validation plus trusted templates 19

 Signature fields only  Signer and signature type pre- wired at document creation  Improved field support ◦ Signature fields (notary, witness, initials, optional signatures, choice groups) ◦ Interactive fields ◦ Recording endorsement fields  Separate containers for proposed and actual signatory information 20

 No standard support for authentication persistence  No standard data field for signature venue, date and time  No standard way of specifying the acceptable singing method  Authentication information can be encrypted and stored directly into the document  Multiple-occurring execution data container  Support for specifying the acceptable signing method for each document ◦ Electronic, wet, any, none 21

 No standard support for evidence logs  Allows for capturing any form of evidence logs (screen shots, video, etc…)  Audit trail evidence logs and embedded in the document and can be transferred with the document 22

eMortgage Package 1.xMISMO Version 3 Message  Package specification was isolated from other MISMO specs  DTD-Based  Self-contained, XML-only messages  Integrated into the MISMO Reference Model  Schema-based  Embedded, serialized, or remote resources  Support for zip archives

 Better support for collaborative processes  Improved security and enforceability  Better support for third party standards: W3C Schemas, PDF, XHTML, D-SIG, XSLT-2  Integrated with MISMO V3 Reference Model ◦ Interoperability, reusability, extensibility ◦ No separate adoption path for SMART Docs®