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GFS Announces Release of MISMO Transaction Implementations

Brentwood, TN - Gallagher Financial Systems, Inc. announces the creation of four implementations of business-to-business (B2B) communications. These enable the import and export of data identified by the Mortgage Industry Standards Maintenance Organization (MISMO).

MISMO is an independent body created in January 2000 by the Mortgage Bankers Association of America (MBAA) to standardize the data transacted through the mortgage industry. MISMO is a part of industry efforts to regulate the security and data transacted. This focus has the potential to revolutionize communications in the mortgage industry.

"Before MISMO standards, interfacing with a new provider required the lender to justify a significant development investment" said Greg Alvord, Gallagher's B2B Architect. "With MISMO data standards, developing a MISMO-compliant interface requires attention to only what is different, which in most cases is simply a different URL address. It's so easy—it justifies itself within the first hour of production."

Late last year, GFS established an initiative tasked with improving the development of B2B communications. Employees throughout the company work with MISMO definitions and formats to assure interoperability with other systems.

Though MISMO definitions focus on the data transferred between organizations, they also simplify the development of non-compliant interfaces. At GFS, defining the MISMO structure eases non-compliant interfacing. "We can map MISMO data elements to non-MISMO defined data elements much easier than before. With MISMO requirements in place, the GFS end is complete—we just point the provider's elements to the appropriate MISMO place."

Gallagher's use of MISMO standards provides Gallagher's NetOxygen solution with out-of-the-box support for any third-party service that supports a MISMO interface. This roll-out includes the most current MISMO definitions for Credit, Mortgage Insurance, Automated Underwriting Systems, and Flood transaction data. Each transaction has been certified by various industry providers.

About Wipro Gallagher Solutions
Founded in 1985, Wipro Gallagher Solutions, formerly Gallagher Financial Systems, is one of the nation's largest residential loan origination systems providers. WGS is headquartered in South Miami, Fla., with its national operations center in Brentwood, Tenn. Wipro Gallagher Solutions' NetOxygen architecture allows lenders to improve efficiencies via dynamic workflow routing and rule-driven, streamlined business processes. NetOxygen was designed to handle all aspects of the lending process for all channels and loan types using a component-based, end-to-end system, which allows enterprise-wide data access for improved customer service. WGS also provides an off-the-shelf solution that can be tailored to meet technological and business challenges that arise in an ever-changing industry. GFS was acquired by Wipro Limited in July, 2008.

About Wipro Limited
Wipro provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, package implementation, software application development, and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services company globally. Wipro’s IT Services business was assessed at Level 5 for CMMI V 1.2 across Offshore and Onsite development centers. For more information, please visit our website at www.wipro.com.