MISMO Life of Loan Business Process Model
 

MISMO announces a 60-day public comment period for MISMO Life of Loan Version 2020.12 ending on April 23, 2021. 


MISMO Life of Loan is a high-level business process model depicting common activities that may occur over the life of a mortgage loan.  It enables business professionals and others to access information about MISMO products within the context of the business process.   

Specifically, MISMO Life of Loan includes:

  • Overview, Narratives, and Workgroup Cross Reference
  • Process Model (searchable PDF)   

It allows the business-savvy reader to easily access MISMO Products by relating them to "typical" processes within the mortgage lifecycle.  All processes and activities in the Life of Loan also have a short definition captured in MISMO's Business Glossary.   

Content Highlights:

  • MISMO Life of Loan is presented in Business Process Model and Notation (BPMN™) which is a standard way of documenting business processes
  • The Overview describes how to navigate MISMO Life of Loan including an introduction to BPMN shapes
  • Each Narrative provides a brief description of what happens during the process and directs the reader to related MISMO products and workgroup(s)
  • The Workgroup Cross Reference assists the reader in finding MISMO Life of Loan content for the MISMO workgroup(s) in which they participate

The MISMO Life of Loan Version 2020.12 and related documents are provided for the purpose of providing an opportunity for comment on the product, as well as to afford an opportunity to disclose any applicable Patent Rights or other intellectual property rights. Any other use of this product, including implementation, is prohibited at this time. 

The public comment period is intended to afford workgroup participants who participated on the proposal notice prior to final release, at least 30-days notice in order to review the exchange 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, disclose at this time in writing. Disclosures and comments should be directed to info@mismo.org.    

The release and use of MISMO standards and other resources, including the MISMO Life of Loan Version 2020.12 are governed by the MISMO Intellectual Property Rights (IPR) Policy.

For more information on the policy, please click here.    

All comments and disclosures should be directed to info@mismo.org.  

Access Information:

MISMO Members can access the MISMO Life of Loan Business Process Model and the Overview documents within the Resource Library housed on MISMO's Collaboration Site, "MISMO Connect" here.  

Non-MISMO members can access the MISMO Life of Loan Business Process Model and the Overview documents here

For more information contact info@mismo.org

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