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LIXI Commissions Reference Implementation Please find below a link to the working model for the Commissions Standard Reference Implementation. Sponsored by Microsoft and completed earlier this year, this implementations provides a number of examples of how the LIXI Commissions standard can be used to provide better integration to existing lender and broker system. LIXI 2008 ANNUAL GENERAL MEETING (AGM) The LIXI 2008 AGM was held in Sydney on Thursday, 13th November, 2008 at the Crowne Plaza Darling Harbour Hotel. This members-only event was followed by a LIXI Evening Series, which outlined the 2009 Business Strategy and solicit comment from members. The evening concluded with a networking session and light refreshments. The LIXI Board elections saw the return of all seven sitting members including Chairman John Hearne. Three new members join the Board as well. The following directors were elected for 2009: Curtis Brager – NextGen.Net* * denotes newly elected LIXI Industry Forum 2008: Highlighting the value of standards in a changing mortgage landscape Following on from the success of the 2007 Forum, the second annual LIXI Industry Forum was held on Wednesday 10th September at The Westin in Sydney. Around 250 delegates gathered to discuss the current industry challenges and the role of LIXI in helping to achieve the efficiencies required for the future success of the Australian mortgage industry. Presentation highlights of the event included: • A keynote address focused on the international business perspective of the critical role standards play in global financial markets, presented by Stephen Farrage of SWIFT • A summary presentation of the whitepaper research commissioned by LIXI to identify the economic benefit of LIXI standards to the industry. Click here to see the Executive Summary of the Enabling Efficiency Whitepaper • The lively panel discussions between leading lenders and broker groups discussing the current state of play and the path forward in a very challenging market environment • An insight into the approach new CEO, Erik Fenna will take in leading LIXI through 2009 and beyond • An update from Simon Libbis, Executive Director of NECO on the National Electronic Conveyancing System that is expected to be in place by March 2010 • An overview of the important role of settlement and post settlement standards from Mike Abel at Perpetual. The success of the day can be attributed to a number of key outcomes, including: • The approach taken by many participants in understanding the role of LIXI and a higher level of acceptance of the benefits of using standards within the industry • The positive news that a number of major projects currently underway in member businesses will use LIXI standards • The identification of the opportunities for members to play a role in the implementation of the standards at various stages in the process • The commitment to the development of an electronic mortgage documentation and management process via NECS and organisations such as Perpetual • The opportunities provided during the day to network with members and other industry participants, contributing to the development of the LIXI community The Board and CEO Erik Fenna are looking forward to discussing these outcomes and the feedback we received at the next Board meeting on 18th September. We certainly learnt a great deal from the day and will ensure the objectives and priorities for LIXI in 2009 reflect these outcomes and form the foundation for the continued growth of LIXI during the next phase of the Australian mortgage industry. Many thanks to all our speakers, event sponsors NextGen, LTX, NAB Broker, Fuji Xerox, Sandstone, Thunderhead, Commonwealth Bank and PMI Insurance and to all who attended to make the event such a success. We look forward to seeing you at the next LIXI event. Click here to see the speaker presentations from the day. Click here to see the Executive Summary of the ‘Enabling Efficiency’ Whitepaper. product standards reference tool provides up-to-date loan information CIO - New reference tool provides up-to-date loan information Infoworld - New reference tool provides up-to-date loan information Computer World - The Lending Industry XML Initiative (LIXI), in partnership with NICTA has developed Visible Loans, a new 'publish and subscribe' reference tool that lets lenders and brokers share accurate, instant information on loan products. Visible Loans is a first for Australia, which has relied on manual processes (faxes and e-mails) to update critical loan information.
Two new LIXI standards are ready for business Two important new LIXI standards have completed development and are now available for download and use by members: LIXI CAL 1.4 extends the Credit Application Language to explicitly support applications for non-conforming loans and equity release (or “reverse mortgage”) loans. LIXI Commissions 1.1 is a major re-write of the original Commissions standard that we believe delivers a practical, functional solution to a business problem that currently creates endless headaches for both brokers and lenders. With help from Microsoft we are planning a to provide a Reference Implementation of LIXI Commissions in the near future. As usual the Reference Implementation will be available free to all LIXI members.
Yet another new LIXI standard is now ready for business After a long gestation the LIXI Products standard has finally been released for general use. LIXI Products 1.3 is a schema for describing key characteristics of mortgage lending products. It’s intended use is the timely online update of product information held by third parties - in particular the databases maintained by mortgage brokers.
LIXI Welcome pack Do you need help explaining LIXI to new staff, or finding your way through the information provided? LIXI has now published a new welcome guide for LIXI members. It is not intended to be a full user manual but has been designed to make those first steps a less daunting prospect. Click here to download the guide.
LIXI Banner Advertising LIXI has been firmly established as the number one business enabler in the Lending market by delivering major benefits to the organisations that embed it in their processing activities. LIXI’s reputation also attracts interest from non-members wishing to join, other similar industries and a raft of overseas companies and standards bodies. LIXI website visitors span the full range of the corporate structure, from CEO’s to Operations Managers and Developers. Their interests are focused on, based on their page visiting patterns, the role of LIXI in the industry, working papers and case studies, the LIXI@Work newsletter, software, the latest news and who is a member of LIXI. Some LIXI members have asked if we could provide some banner space on the LIXI website for advertising by LIXI members. The LIXI Board has considered this request and has decided to release two areas on the LIXI website for banner advertising. The LIXI Banner Advertising document gives you a brief background and site stats to help you with your business case in securing this valuable resource. You can then download the LIXI Banner Advertising Agreement, fill-it in and send it to us.
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