Dallas, TX – March 27, 2019 – Trisotech today announced that MISMO®, the mortgage industry’s standards organization managed by the Mortgage Bankers Association (MBA), today recommended the use of the Decision Model and Notation™ (DMN™) standard for documentation, implementation, execution and exchange of business rules and decisions across the mortgage industry.
The DMN standard was developed and is maintained by the Object Management Group® (OMG®), an international, open membership, not-for-profit technology standards consortium. According to the MISMO announcement, DMN will help reduce time and cost in the mortgage process by enabling participants to automate the exchange of business rules and decisions between partners. Organizations seeking the advantages of this transformation will see even greater success using DMN in combination with existing MISMO standards.
“By integrating MISMO’s data standard with DMN, we facilitate decision as a service and enable new levels of integration and communication between mortgage industry partners. This moves MISMO closer to its vision of standardizing how the mortgage industry communicates,” said Brian Stucky, CEO of DecisionX, co-chairman of MISMO’s Decision Modeling Community of Practice and a Trisotech consulting partner. “Sharing rules, along with the data used by the rule, will help address many of the interpretive and compliance issues that currently bedevil the mortgage industry. Understanding the rules used by business partners will help resolve differing interpretations and confusion, which in turn should greatly reduce costs across the industry.”
As the world-leading decision modeling and execution software solutions provider, Trisotech strengthens its position as a strategic MISMO partner. Per the MISMO official announcement, lenders using DMN-based software like the Trisotech DMN level 3-compliant Decision Management Suite could instantly integrate investor guidelines or other partner requirements into their business processes. As such, DMN provides an alternative to the expensive and time-consuming process that is required to do the same today.
Lenders and other industry participants that are interested in learning and adopting the DMN standard are invited by MISMO to join their Decision Modeling Community of Practice (CoP).
Trisotech offers a free trial of the DMN Modeler to any organization looking to adopt the standard. Simply fill in this form or contact support@trisotech.com to get a live demonstration of the DMN-based Trisotech Decision Management Suite.
About MISMO
The Mortgage Industry Standards Maintenance Organization (MISMO) is the standards development organization for the residential and commercial finance industry. Today, MISMO standards are accepted and deployed by every type of entity involved in creating mortgages. MISMO is managed by the Mortgage Bankers Association (“MBA”).
Website: http://www.mismo.org
About Trisotech
Trisotech is a global leader in digital enterprise transformation solutions, offering innovative and easy-to-use software tools. Trisotech customers use The Digital Enterprise Suite to provide new and revolutionary ways for their knowledge workers to collaborate and succeed in an increasingly global, connected and competitive world.
Trisotech is a privately held company.
Website: http://www.trisotech.com
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