Date

03 Sep 2015

Attendees

Lynn Calahan [X] (Unlicensed)

Decisions:

Discussion items:

20150903 FIBO-Loans FCT Technical Meeting

MU converted model draft to OWL

Fan Liju: I don't think there is a one to one from UML to OWL relationship.

On Deck: Review conversion and rationalize timeline. Several new attendees recognized and introduced.

MU presented requirement gathered regarding loan contracts.

How will loan states and process be captured? Some will become evident as they are connected to the larger FIBO model. Referring to process, we are not referring to business process. We only address the process of the loan lifecycle (i.e. the steps necessary to initiate and consummate a loan agreement).

Lynn Calahan: We will need to re-tread this particular slide...the relationships aren't quite right.

Larry Mitchell: Ambiguity on the Mortgage Events & Documents. Review and clarify.

MU: Each document has its own triggers, events, and processes. Mortgage is the loan. Deed is the transfer of the collateral. Note is the obligation term.

Lynn to Dennis to explain what and why UML.

Dennis: Universal Modeling Language. Required for OMG spec. FIBO can and will decide the exact content and graphic for FIBO UML models.

VOM = Visual Ontology Modeler.

Jeff Braswell: Obligation to lend principal. Obligation to return principal. Obligation to make scheduled payments. Specification of required properties and optional properties is an important part of models at nearly every level.

Next steps: get agreement on what was shown today.

Action items

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