MISMO Winter 2014 Summit

Ginnie Mae MISMO Adoption Update

Tamara Togans and Nicole Jackson Ginnie Mae

January 13, 2014 The MISMO Winter 2014 Summit Education Program is sponsored by:

Ginnie Mae MISMO Implementation Strategy

• •

Improve data quality

through adoption of an industry data standard

Enhance the Issuer experience

by employing best-in-class development and data management practices •

of the software packages.

industry

by ensuring constant engagement with market partners (i.e. FHA, GSEs)

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MISMO Adoption is an Opportunity for Modernization

From Manual Forms & Electronic Flat File submissions to GinnieNET

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To XML delivery and automated messaging to a modernized application

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GinnieNET Modernization

Ginnie Mae’s MISMO adoption project will drive the first release of Ginnie Mae’s

GinnieNET modernization

effort.

INFRASTRUCTURE

$ Strategic Investments GinnieNET MODERNIZATION Faster Response

STREAMLINED PROCESSING ..

User Friendly Interfaces Strengthened Security

INFORMED USER-BASE

Testing Increased Performance Enhanced Reporting Innovative Capabilities Technical Support

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GinnieNET Functionality

Directly impacted by MISMO Implementation

Security Admin

User accounts, roles and profile management

Maintenance

Reference Information, Master Agreements, Minimally or not impacted by MISMO Implementation 

Edits and Error Messaging

Warnings and fatal edit reporting

Doc Custodian Functions SF Pool Processing Pool Certification

Certification and document custodian transfer

MF Pool Processing Investor Reporting

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Ginnie Mae’s Pool Delivery Dataset (PDD)

The Pool Delivery Dataset (PDD) is the MISMO-compliant dataset that Ginnie Mae will implement for single-family at-issuance reporting. Specifications were compiled based on several primary themes:

1 2 3 Proven Methodology

Ginnie Mae aligned its technical specification templates with the GSE’s initial Uniform Loan Delivery Dataset (ULDD) release, so that Issuers can benefit from the familiarity of similarly structured guidance.

MISMO Version 3.3

Ginnie Mae worked closely with the MISMO organization to ensure that necessary data points were included in its latest version.

“Lean” Dataset

Ginnie Mae identified opportunities to deprecate redundant or calculated fields and limit optional fields.

4 Additional Data to Enhance Integrity

Ginnie Mae is requesting a limited number of additional fields to improve data quality.

5 Issuer Feedback

Results from an earlier Issuer questionnaire were leveraged to make informed decisions on scope and timeline.

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Implementation Guide and Appendices

Implementation Guide

General guidance

Appendix A

MISMO Mapping specifications

Appendix B

Usage Scenarios

Appendix C

XML Usage Scenario Samples

Appendix D

XML Data Reference and Mapping

Appendix E

XSD Template

Appendix F

Ginnie Mae Legacy Mapping

Guidance will be published on www.GinnieMae.gov

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Issuer Questionnaire Results Themes

Ginnie Mae identified key themes through questionnaires and targeted conversations with Issuers:

1 Issuers need sufficient time to implement

Based on prior MISMO implementations, Issuers need at least 18 months to implement.

2 Prior MISMO implementations with other entities did not allot enough time for transition

Ginnie Mae will allow for a transition period that would accommodate Issuers who have quarterly release schedules.

At least 18 months will be given to Issuers to implement At least 6 months will be given to Issuers to transition A Technical Help Team with subject matter expertise will support Issuers 3 Resources for Issuer support must be available and accessible

Issuers will need ongoing support in converting to MISMO.

4 Education and early testing is critical

Issuers must have sufficient guidance and test tools in order to proactively address coding and mapping issues.

5 Ginnie Mae should minimize any subsequent versions of its mapping specifications

In prior MISMO implementations, Issuers encountered challenges in keeping up with changes to technical specifications.

Training and Education will be proactively made available to Issuers Minimal Changes are planned for the mapping specifications, once they are initially published

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2013 Dec Dec 15:

Ginnie Mae shared preliminary specs with a select focus group of Issuers

Timeline

Jan 13-17:

MISMO will formally release version 3.3 at its Winter Summit

Jan Feb 2014 Mar Mar 31:

Ginnie Mae will publish its implementation guide, related appendices, and implementation schedule

Apr

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Questions?

Tamara Togans

Ginnie Mae Director, Enterprise Data Solutions 202-475-7847 [email protected]

Nicole C. Jackson

Ginnie Mae Senior Data Analyst, Enterprise Data Solutions 202-475-7828 [email protected]

Web Address: www.GinnieMae.gov

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Thank You to our 2014 Winter Summit Primary Event Sponsor

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