Application Threshold Decision Model and White paper
The Application Threshold Decision Model and White Paper were created by the MISMO Decision Modeling Community of Practice to demonstrate the impact of decision modeling in the mortgage process. The work product was published as FINAL in January 2023. This work product is a white paper and shareable decision model designed to determine when the application threshold is crossed, in accordance with the Application Threshold rule as expressed by the Real Estate Settlement Procedures Act (RESPA).
Many mortgage industry participants perform the Application Threshold decision using their own unique systems, which means there are no standard mechanisms for determining the Application Threshold across the industry.
The Application Threshold Decision Model and White Paper demonstrates how standardizing the process can enhance business efficiency and communication. The MISMO Decision Modeling Community of Practice recommends the Decision Model and Notation (DMN) as the standard for mortgage industry documentation, implementation, and execution of business rules and decisions.
Access Information for Members
Access Information for Non-Members
Non-MISMO members can access the product here.