1. Web-service Based Information Integration for e-Mortgage Contract Matchmaking Decision Support: A Case Study in Hong Kong Dickson K. W. CHIU Senior Member, IEEE Dickson Computer Systems Hong Kong kwchiu@acm.org, dicksonchiu@ieee.org Patrick C. K. HUNG Faculty of Business and Information Technology, University of Ontario Institute of Technology Patrick.Hung@uoit.ca Gordon K.T. LAU Dept. of Computer Science Hong Kong University of Science & Technology gtlau@ust.hk

2. Mortgage DSSHICSS39 - 2 Introduction Effective decision making often requires disparate information from heterogeneous sources Significant contracts required gathering such information particularly slow and inefficient Few studies in the end-users perspective Case Study: HK real estate business $$$$$ => important decision to end-user Complexity of terms and conditions Tedious and time-consuming process e-Mortgage Contract Matchmaking Service (EMS) Studies how the application of Web service technologies helps

3. Mortgage DSSHICSS39 - 3 Typical Flow of Property Acquisition

4. Mortgage DSSHICSS39 - 4 Stakeholders mortgage providers highly competitive value-added services competitive edge legacy systems customer segmentation property buyers mortgage service applicants looking for mortgage plans individual financial needs additional channels accurate, timely, convenient, secure complexity Representatives of buyers provide advice and service in selecting properties earn commission add-on service to attract and assist customers in property acquisition Authorities / 3rd party institutions providing credit history / rating unbiased to various parties

5. Mortgage DSSHICSS39 - 5 Message Flow

6. Mortgage DSSHICSS39 - 6 System Architecture

7. Mortgage DSSHICSS39 - 7 Web Service Operations

8. Mortgage DSSHICSS39 - 8 UML Concept Model for EMS

9. Mortgage DSSHICSS39 - 9 Sample WSDL

10. Mortgage DSSHICSS39 - 10 Sample SOAP Message

11. Mortgage DSSHICSS39 - 11 Mortgage Quote Request Flow

12. Mortgage DSSHICSS39 - 12 Mortgage Quote Process Flow

13. Mortgage DSSHICSS39 - 13 XML with Security Control

14. Mortgage DSSHICSS39 - 14 Example Weight XML

15. Mortgage DSSHICSS39 - 15 Ranking Mortgage ComponentsOffer AOffer BExpected Interest (%)565.5 Monthly Payment Amount700060006500 Duration (Months)120300180 Mortgage ComponentsOffer AOffer B Weight Interest (%)0.5 (5.5 – 5)-0.5 (5.5 -6) 5 Monthly Payment Amount-500 (6500 – 7000)500 (6500-6000) 3 Duration (Months)60 (180-120)-120 (180-300) 10

16. Mortgage DSSHICSS39 - 16 Ranking - Result Mortgage Component Offer A (variation)Offer B (variation)Weight Interest (%)2.5 (0.5 * 5) -2.5 (-0.5*5) 5 Monthly Payment Amount -1500 (-500 * 3) 1500 (500 * 3) 3 Duration (Months)600 (60 * 10) -1200 (-120 * 10) 10 Total (Score)-397.5297.5

17. Mortgage DSSHICSS39 - 17 Summary  Web services integrates disparate information to facilitate decision support  Attempts to address real-life problems: complexity of contracts and decision  Value added service from end-users’ perspective  Web Service Architecture (WSA)  provides an efficient channel to communicate among parties in the business processes  extend the value of current legacy systems  less paper exchange  more automated and accelerated processes

18. Mortgage DSSHICSS39 - 18 Future Work  Further enhancement and automotion of the mortgage application workflow  Reach a state of paperless and all-in-one stop for mortgage applications  Enhance the current built-in raking function: pattern recognition and data mining techniques  Abstracting the experience gathered from our case study to a higher level methodology and meta-model  Application of ontologies

19. Mortgage DSSHICSS39 - 19 Question and Answer Thank you!