Interoperability and Rule Languages

Transcription

1 Interoperability and Rule Languages Srinivas Krovvidy Fannie Mae The views expressed in this paper are that of the author and not his employer Copyright 2005 FannieMae 1

2 Overview Interoperable Rule Language: Motivations Use Case in Mortgage Industry Mortgage Process Flow Mortgage Data Standards Opportunities for Interoperable Rules Current Approaches Requirements for an interoperable language Copyright 2005 FannieMae 2

3 Interoperable Rule Languages First generation of ecommerce applications Ship/Share data between applications Next generation of ecommerce applications Rules are treated as data Ship/Share business rules along with data Electronic transactions require data and business rules from multiple partners Sharing means Standards Optimal execution requires sharing data and business rules Copyright 2005 FannieMae 3

4 emortgage Process Flow (Commercal emortgages: The Present and Future of Paperless Transactions in Commercial Mortgage Lendeing, A White Paper of the Mortgage Bankers Association of America, May 2003, By the Commercial emortgage Workgroup) erecording Servicing SMART Docs epackagaes Third Part Reports and Services eorigination & Underwriting edoc Prep eclosing Secondary Market esignatures *enotes MISMO XML Data Transactions (and/or SMART Docs) Transaction Parties evault evault enote Registration & Transfer Messages Transaction Parties National enote Registry Copyright 2005 FannieMae 4

5 Interoperable Rules & Mortgage Industry Mortgage Business Process Enhancements Different players in the mortgage life cycle Multiple partners means more opportunities for sharing Same set of rules applicable in multiple stages Business policy to determine the eligibility of a loan for underwriting may also be applicable during its delivery Loan originators may want to know the policy requirements for closing Demands for improved business process Active involvement of business users in policy implementation Quick turnaround time for implementing new policies Copyright 2005 FannieMae 5

6 Interoperable Rules & Mortgage Industry Continued Other Factors Industry Data Standards Broader adoption of MISMO (The Mortgage Industry Standards Maintenance Organization) standards Regulatory Compliance Requirements State & Federal mortgage business regulations Bridge the gap between specification and implementation of a policy Copyright 2005 FannieMae 6

7 Current Approaches Always use one technology product to specify business rules for all applications Not always practical May not be in the strategic interest Limits the ability to make other infrastructural changes Creates dependency on the vendor Copyright 2005 FannieMae 7

8 Current Approaches Continued Design a proprietary vendor neutral rule language to specify business rules Develop custom rule specification, management and verification tools Create tools to generate executable business rules from the proprietary language to target platform Resource intensive Copyright 2005 FannieMae 8

9 Requirements for an interoperable rule language Expressional Completeness Able to specify business rules based on an object model Must contain open and extensible constructs Deterministic Characteristics Able to define rule properties (versioning, permissions, effective and expiration dates etc.) Must allow a description for a group of shareable rules Consistent Integration Support conflict resolution and preconditions Support synchronous and asynchronous rule execution Copyright 2005 FannieMae 9