MEG0011 Term Name Structure
Draft Date 12/09/2008
Purpose
1. Introduction
One of the most powerful deliverables within MISMO is the Logical Data Dictionary (LDD). The LDD houses every term that is used by any published MISMO message. For these terms to have meaning outside of their respective messages, rules must be in place regarding their naming. It is important for the interoperability that the name assignments be consistent across transactions. This MEG provides guidance to MISMO Workgroups when creating new term names and to MISMO‘s Core Data Structures WG when reviewing new term names being proposed for the LDD. This may also be useful to those users outside of MISMO wanting to derive meaning from the LDD term names.
1.1 Audience
This MEG was written for the following groups:
- MISMO Workgroup members developing MISMO messages.
- Designers and users of systems that create and consume the XML instance documents used in Real Estate Finance transactions.
- Technical or business professionals wishing to evaluate MISMO specifications.
1.2 Terminology
The key words “MUST”, “MUST NOT”, “REQUIRED”, “SHALL”, “SHALL NOT”, “SHOULD”, “SHOULD NOT”, “RECOMMENDED”, “MAY”, and “OPTIONAL” in this document are to be interpreted as described in RFC 2119
.
1. MUST - This word,or the terms “REQUIRED” or “SHALL”, mean that the definition is an absolute requirement of the specification.
2. MUST NOT - This phrase, or the phrase “SHALL NOT”, mean that the definition is an absolute prohibition of the specification.
3. SHOULD - This word, or the adjective “RECOMMENDED”, mean that there may exist valid reasons in particular circumstances to ignore a particular item, but the full implications must be understood and carefully weighed before choosing a different course.
4. SHOULD NOT - This phrase, or the phrase “NOT RECOMMENDED” mean that there may exist valid reasons in particular circumstances when the particular behavior is acceptable or even useful, but the full implications should be understood and the case carefully weighed before implementing any behavior described with this label.
5. MAY - This word, or the adjective “OPTIONAL”, mean that an item is truly optional.
1.3 Document Status
The information supplied in this document reflects the MISMO architecture development and interoperability principles at the time of writing. It is a living document, which will be updated as required to reflect the evolving nature of XML technologies and service requirements identified by the MISMO constituency.
2. Rationale for this MEG
Provide set of consistent naming conventions.
Content
Guidelines
| Ref |
Guideline |
| 11.1 |
A Term Name SHOULD be able to stand on its own, without depending on context for interpretation.
Term Names are a required part of the Logical Data Dictionary. MEG0016
The need for an accurate descriptive name and the need for brevity should be balanced. In general, Term Names should be as long as is needed to clearly and unambiguously identify the business concept. |
| 11.2 |
A Term Name SHOULD be formed through the use of keywords. The Term Name may be composed of many words consisting of the following types: Primary Qualifier(s), Prime Word, Secondary Qualifier(s), and Class Word. (See Naming Standards Matrix below for specific examples.) |
| 11.3 |
Primary Qualifiers SHOULD be used to indicate ownership and/or the point in the life cycle where the business term falls. Primary Qualifiers are used if necessary to remove ambiguity.
Term Names MAY begin with one or more Primary Qualifiers. There may be instances where a Primary Qualifier is not necessary.
If more than one Primary Qualifier is required the ownership qualifier SHOULD be listed first and the life cycle qualifier SHOULD be listed second.
For example, Loan Original Payment Amount, Loan Current Payment Amount. |
| 11.3.1 |
A Primary Qualifier SHOULD be used if more than one party or entity may be related to a single Prime Word.
For example, Borrower Postal Code, Seller Postal Code, Mortgage Insurer Postal Code. |
| 11.3.2 |
A Primary Qualifier MAY be an entity name if necessary to remove ambiguity.
For example, the Mortgage Insurance Workgroup frequently adds the MI prefix to the LDD Term Names to distinguish the different definition from similar concepts in other parts of the industry. |
| 11.3.3 |
A Primary Qualifier SHOULD be used if the value of an attribute may change at various points during the mortgage life cycle.
For example, during origination, acquisition, and liquidation. (E.g., Original Interest Rate, Current Interest Rate, Previous Interest Rate) |
| 11.4 |
The Prime Word SHOULD be the most descriptive word that is central to the term being named. The Prime Word is the foundation of the business term. All other words included in the business name describe the Prime Word in some way.
A Term Name MUST have a Prime Word.
If the Term Name has one or more Primary Qualifiers, the Prime Word SHOULD follow immediately afterwards. |
| 11.5 |
A Secondary Qualifier SHOULD be used as necessary to provide additional clarity to the Term Name. Secondary Qualifiers are successively less selective words used to further clarify the Prime Word.
Term names MAY have Secondary Qualifiers. There MAY be one or more Secondary Qualifiers.
If more than one Secondary Qualifier is required the qualifiers SHOULD be listed in the order that provides the most clarity. |
| 11.6 |
The Class Word SHOULD be used as a means of categorizing the Term Name and relating the Term Name to a particular data type.
A Term Name MUST have a single Class Word.
The Class Word MUST be the final word in the Term Name. MEG0007. |
Naming Standards Matrix
Primary Qualifiers, Prime Words, and Secondary Qualifiers listed below are for illustrative purposes only and is not meant to be an exhaustive list of words to be used. NOTE: Class Words are always required as outlined in MEG0007.
| Primary Qualifiers |
Primary Qualifiers |
Prime Words |
Secondary Qualifiers |
Class Words |
| Ownership |
Lifecycle |
|
|
|
| Applicant |
Acquisition |
Product |
Percent Sold |
Amount |
| Borrower |
Acquired |
Seasoning |
Percent Acquired |
Code |
| Contract |
Acquired Property |
Guaranty Fee |
Percent Owned |
Count |
| Credit Bureau |
Current |
Region |
Scheduled |
Date |
| Credit Report |
Delinquency |
Principal |
Actual |
Datetime |
| Deal |
Distressed Asset |
Payment |
Estimated |
Day |
| Investor |
Liquidated |
Yield |
Applied |
Month |
| Lender |
Liquidation |
Index |
Ratio |
Time |
| Loan |
Modified |
Margin |
Total |
Description |
| MI |
Monthly |
Interest |
Adjustment |
Identifier |
| Pool |
Original |
|
Method |
Indicator |
| Project |
Originated |
|
Summary |
Name |
| Property |
Origination |
|
Category |
Number |
| Region |
Previous |
|
Maximum |
Percent |
| Security |
Quarterly |
|
Minimum |
Rate |
| Security Firm |
Unmodified |
|
|
Type |
| Seller |
Weekly |
|
|
Value |
| Servicer |
|
|
|
Text |
| Third Party |
|
|
|
Year |
| Trade |
|
|
|
|
| Trust |
Metadata
Version 1.0
12/9/2008
| Release History |
| Date |
Release |
Comments |
| 8/22/2006 |
.01 |
Initial Version |
| 12/27/2006 |
.02 |
Added information from existing Engineering Guidelines |
| 9/3/2008 |
.03 |
Revised and added addition information from existing Engineering Guidelines |
| 12/9/2008 |
1.0 |
Approved by MISMO Governance Committee |
| 12/15/2008 |
1.0 |
Updated contents of Disclaimer tab. |
| Changes Since Last Version |
| See above |
| Contacts |
| Name |
Organization |
Contact Details |
| MISMO Staff |
MISMO |
info@mismo.org |
| Metadata |
| Element |
Description |
| Title |
MEG0011 Term Name Structure |
| Identifier |
MEG0011 |
| Category |
LIST OF CATEGORIES |
| Publisher |
MISMO |
| Rights |
Copyright 2008 MISMO. All rights reserved. |
| Date Created |
08/22/2006 12:00 PM |
| Date Modified |
12/9/2008 5:00 PM |
References
Comment
None.
Disclaimer
Disclaimer. MISMO® accepts no liability for the accuracy, adequacy, or completeness of the information contained in this MISMO Engineering Guideline (MEG).
Circulation. Material in this MEG may be reproduced free of charge without obtaining explicit permission from MISMO, provided that the source is acknowledged, the document title given, and the material used in context.
Copyright 2008 MISMO. All material in this MEG is the property of MISMO. All rights reserved.