Business Rules Exchange Community of Practice


The mission of the MISMO Business Rules Exchange Community is to specify a framework of recommendations, guidelines, and references for the exchange of business rules that is consistent with existing MISMO recommendations and specifications.  

Business Rules Exchange Community Page

Current Goals and Objectives

Mortgage industry processes would be enhanced if a standard existed for trading partners to exchange business rules. There are several different business rules exchange standards under development by other standards bodies including the W3C, OMG, and OASIS.   We establish the MISMO Business Rules Exchange Community to provide guidance on how to use external business rules standards for the use cases of our industry. The general activities of the community will be:  

  • Identify the status of the business rules exchange standards
  • Identify the major real estate finance use cases for business rules exchange
  • As the external standards pass through their public comment phase submit comments about the proposed external standards.
  • Once the external standards reach their final state of approval prepare MISMO standards that will promote interoperability.

MISMO published a white paper written by the Business Rules Exchange community that explored how the OMG Decision Model and Notation standard may be used to exchange mortgage industry rules. The DMN standard shows how to model and exchange decisions, and integrates seamlessly with the well-known OMG Business Process Model and Notation BPMN standard. The white paper presents a series of rule exchange requirements and evaluates whether the Decision Model and Notation standard fulfills those requirements.

The Business Rules Exchange community is currently writing MISMO implementation guidance for the mortgage finance industry regarding how to use the MISMO v3 reference model alongside the Decision Model and Notation Standard. We are using the MISMO HMDA Toolkit as a source for example rules. 

Major Milestones and Timeframes to Support Goals

The Business Rules Exchange community would like to complete an initial  implementation guide regarding the use of the Decision Model and Notation standard. The community wants to demonstrate to a wider MISMO audience at the summit how DMN may be used to exchange business rules within the mortgage finance industry. 

Key Stakeholders

All mortgage industry participants should be interested in the Business Rules Exchange Community's efforts, as lending processes are very rule-bound. Generally, lending rules are created by federal, state, and local government agencies and by secondary market investors. The general challenge to BREW is to show how lending rules may be modeled and exchanged using a well-known vocabulary that uses the MISMO Reference Model, and a standard rule syntax supported by a recognized standards organization. That would permit a more seamless and meaningful exchange of mortgage industry rules.  


John Liston, Associated Software Consultants, Inc., Co-Chair
Brian Stucky, Allegiance Advisory Group, Co-Chair

Top 3 Concerns / Deliverables / Focus Areas for 2017

  1. Complete a first edition of its Decision Model and Notation rule exchange implementation guide.

2. Initiate education opportunities regarding exchanging DMN business rules and decision models. 

MISMO Meeting Schedule

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