FHA B2G Chums Functions and MISMO Standards XML Integration
The FHA and many other mortgage industry companies and organizations are coming together with XML APIs. These queries allow for Case Number Assignment, Tracking, Credit and Flood reports and many more. Edoceo has assisted other lenders and financial institutions in implementing this technology for both forward and reverse origination. How may we assist you?
FHA Connection B2G / CHUMS Functions
The FHA has many B2G (Business to Government) type functions available. Using simple XML requests and following the MISMO standards, one can perform both Origination and Data Listing functions. Many common operations in the loan origination industry are availble here including: Case Number Assignment, Appraisal Logging, HECM Insurance Application, Case Transfer and more.
MISMO Standard XML
MISMO is the creator of the XML DTDs for these B2G requests. Other providers of Flood certificates or Credit reports also use these DTD for their XML APIs. Flood and Credit interfaces can be created to provide more automation and increased accuracy.
Implementation Stories
Clearly Edoceo cannot reveal the inner details about implementing solutions with these XML APIs for our clients. We can however discuss the higher level concepts.
- Address Validation
- Ensure the accuracy of addresses on file for borrowers.
- Case Number Assignment
- This was implemented in short order and saves a few minutes per loan, more importantly the data submitted comes directly from the LOS to ensure accuracy.
- Insurance Application
- Automating this process also saves a few minutes per loan, maybe 10 to 15. Data here is also submitted directly from the LOS to ensure accuracy.
- Holds Tracking
- This was very easy to implement and saves the most time. Instead of employees checking on the status of a loan a few times a day it automated and they are alerted when necessary.
- Flood/Credit
- Not from the FHA but other providers. Direct submission from the LOS with an instant response. What more needs to be said?
From the above short descriptions it should be clear that implementing the FHA B2G functions is a good idea. They save time, which is money. The data accuracy goes up which saves money. The requirement for tedious work goes down and improves employee morale, which saves money.
See Also
- FHA Connection B2G - Their home page.
- MISMO - Their home page.
ChangeLog
- 20 Jun 2006 - Fixed typos and spelling /djb
- 09 May 2006 - Created /djb