MISMO®, the real estate finance industry’s standards organization, recommends 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 is owned by the Object Management Group, Inc.

Applying the DMN standard in combination with existing MISMO standards will enable mortgage industry participants to facilitate and automate the exchange of decision logic between partners, reducing time and cost in the mortgage process. MISMO’s vision is to standardize how the mortgage industry communicates. Using the DMN standard to share business rules and decision-making approaches, especially when combined with standard definitions of the data being used, will help address many of the interpretive and compliance issues that currently bedevil the mortgage industry. 

 MISMO encourages all mortgage lenders to adopt the DMN standard and is highly supportive of work to assist organizations in successfully adopting and using the DMN standard.   

Brian Stucky, Lead Responsible AI & Model Governance. Rocket Mortgage

Co-Chair MISMO Decision Modeling Community of Practice and Co-Chair MISMO AI Workgroup