MERit Credit Engine Offers Merged MISMO XML Standard

GLENDORA, CA Oct 31  -- The MERit Credit Engine, MCE(TM), has added capabilities to for providing 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, Equfiax, and/or Trans Union. The MERit Credit Engine supports all methods of connecting to the three major repositories, including Internet, leased line, and modem. It operates using Microsoft SQL Server or IBM DB2 database technology, and allows implementers to retain control of their entire system, without added per-transaction costs.

The Mortgage Industry Standards Maintenance Organization “MISMO” specification covers loan origination, real estate services, secondary marketing, and servicing. The MERit Credit Engine's XML option provides data for those parts of the standard related to credit reports, including options for double or tri-merge as well as single-bureau retrieval.

Credit data is customarily delivered as credit reports, difficult to analyze by humans, and difficult, as well, for custom software developers to dissect. The MCE, in contrast, 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. (http://www.creditengine.net/xml.htm) 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. Contact sales at 800-717-5170.

MISMO, (http://www.mismo.org) is the XML standards group of the Mortgage Bankers Association.

Product and company names mentioned herein are the property of their respective owners. You must have account(s) and valid log-in credentials with whichever credit reporting agencies you intend to access with the Merit Credit Engine software. Merit Credit Systems is a software provider only, is not affiliated with any credit bureau, and does not act as a provider, pass-through, or reseller of consumer credit reports.