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MERit Credit Engine Adds Merged XML Credit Reports

GLENDORA, CA, USA. November 12, 2001.

The MERit Credit Engine, MCE, has added capabilities to provide Merged XML Formatted Credit Report data using The Mortgage Banker's Association of America's MISMO standard.

The MERit Credit Engine shortens development time and satisfies a mission-critical need for companies developing systems that require credit report data directly from Experian, Equifax, and/or Trans Union. It operates using a SQL Server database, and allows implementers to retain control of their entire system, without added per-transaction costs.

The MCE, requests raw data from credit reporting agencies, converts it to a standard format, and inserts the subject's file into the local SQL database to simplify analysis and integration. The XML capabilities take the standardization to another level, allow the data to be shared by participants in a loan transaction, within a network or across the Web.

MERit Credit Systems, Inc. ( is a leading provider of desktop and server-based online credit report retrieval software for businesses requiring quick and effective access to credit information from Equifax, Experian, and Trans Union.

MISMO, ( is the XML standards group of the Mortgage Bankers Association.

From the MERit Credit Systems web site:

MCE: XML credit report option uses industry-standard data interchange layouts to accelerate transactions. XML (Extensible Markup Language) is emerging as the way in which all kinds of transaction data is passed from computer to computer, and the MERit Credit Engine has optional modules that support the latest standards for representing and handling credit report data with XML. For credit reports, the most comprehensive XML specification is MISMO, provided by The Mortgage Banker's Association of America's Mortgage Industry Standards Maintenance Organization. The overall specification covers loan origination, real estate services, secondary marketing, and servicing. The MERit Credit Engine's XML option is able to provide data in the correct format for those parts of the standard related to credit reports: double or tri-merged (using the MCE merge option) as well as single-bureau. The XML credit report standards now make it possible, in the home lending field, for identical data files to to be submitted to Fannie Mae as well as Freddie Mac for an underwriting decision.

XML was conceived primarily as neutral self-describing way of transfering data from one party to another. Once it is at a particular destination, tools are available for importing XML to traditional database storage, or for handling the XML credit report data on a node-by-node basis... The DTD, or Document Type Definition, is key to processing XML credit report data in a way that is compatible across an entire industry. Tools are available for transforming the XML credit report data to other specifications. XML has the advantage of being extensible, so that custom tags to store other types of data can be added without breaking the original code. Within the MISMO specification, there is room for custom data, including summary representations of the credit report data, which the MERit Credit Engine is able to do, allowing for easier processing. XML credit report data can be handled manually, but the latest programming tools can relieve developers of the details. The Microsoft .NET (dot net) framework is based on XML, and its data access API (known as ADO .NET) encapsulates classes for reading, writing and the navigating XML data. Visual BASIC, Visual C++ and other programming tools are beginning to simplify all of this, both for standalone, and for web-based applications. Being most comprehensive, the MISMO specification for credit reports is readily useable outside the mortgage industry, as well, but other industries are expected to introduce their own XML credit specifications.


Herb Siedschlag
MERit Credit Systems
626.963.8313 Ext. 196
800.469.9081 Ext. 196

Prepared by Robin Cover for The XML Cover Pages archive. See "Mortgage Bankers Association of America MISMO Standard."

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