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Date

Attendees

 

 

Agenda

FIBO Loans FCT Meeting Agenda_032416.doc

1)  Use Case reminder.

2)  Where  we are on our road map. 

3)  Open Action Items

4 ) JIRA Issues Review

 https://jira.edmcouncil.org/browse/LOAN/?selectedTab=com.atlassian.jira.jira-projects-plugin:issues-panel

5)  Todays content discussion.

 

Credit Reporting Overview.pptx

 

            UML                          loans-2016-03-23.pdf

            Spreadsheet             LoansAnnotations-Integrated-2016-03-017.xlsx

            Protégé                      loanCore-2016-03-23.rdfloanInstances-2016-03-23.rdf

6)  For next week.

Proceedings

FIBO Loans FCT Meeting Minutes_032416.doc

Since last time: changed some of the relationships, e..g hasPart as agreed last week.

Going through credit model.

Identifiers: for now, not need to have subclasses for CreditReportIdentifiers.

Max: is credit inquiry part of the credit report, or a cause of the report?

LC: it is an informational element on the credit report, representing a prior request.

Max: I see, information/report  about credit inquiries, rather than the process of requesting the credit report.

hasPartyBeingChecked: a bit clumsy, but maybe best we can come up with. referencedParty

Dates/Times:

1.      when generated (could be long after the date period)

2.      as of date

3.      period covered (end is not necessarily  as of date, datea arrives fr a period later than when drawn)

JimCooper: CreditScore is always a number, CreditRating can be qualitative.

Max: this can work, but this way does not allow general case when do not care which is which (e.g. credit classifier, which could be either).

Jen: for our use case, we can just have it be a numeric value.

Jeff: can be in commercial loans, different

CreditScoreFactor: somewhat US-centric

Tradeline not derived from the contract. aybe isBasedOn Contract? or si based on the transaction history of the contract?

 

To view notes capture during proceedings, please see the chat log.

ChatLog DW FIBO Reoccurring Meeting 2016_03_24 17_03.rtf

 

Decisions

 

Action items

  • Michael Uschold   LOAN-74 - Getting issue details... STATUS  Most of these items were done before creating this JIRA ISSUE. It only includes the two items in red.

    1.      CreditReport not always have a CreditScore, make min 0. e.g. for people with little credit history.

    2.      CreditReport not always have a CreditInquiry, make min 0.

    3.      CreditReport not always have a CreditTradeline and PublicRecord, make min 0.

    4.      CreditReport: add date of creation property (as of date) (to Report superclass).

    5.      Rename CreditRequest to CreditReportRequest

    6.      look into property like referencedParty or subjectParty (not work wel with FIBO refersTo, too limited.)
    Result: I looked and found nothing better. 

    7.      add asOf or effectiveDate to Report (inherited by CreditReport) see if asOfDate is in FND
    Result: nothing was in FND. I added asOfDate to CreditReport, not Report, since not all Reports have them. 
     

    8.      allow CreditScore to be float, not integer. MOVE TO IDENTIFIER RATIONALIZATION
    Result: changed to be decimal, not float due to a range specification for the property. 

    9.      allow CreditScore to be non-numeric (e..g low, medium, high). research this, [can of  worms] throw over the fence to FND. Want something like CreditRating that includes qualitative and quantitative scores. MOVE TO ID RATIONALIZATION
    Result:  added CreditScoreCategory for non-numeric. Did not move to ID RATIONALIZATION.

    10.  CreditScore min 0 CreditScoreFactor

    11.  CreditScore maybe use isDerivedFrom model rather than uses_g
    Result: replaced uses_g with isDerivedFrom in the restriction. 

    12.  Find out why is Specification in this definition:
      
    Result: a credit score model is an algorithm, which specifies a sequence of computational steps, and thus is a specification.

    13.  <moved to separate task>

    14.  Need more information on CreditTradeline, e.g. payment history, etc.
    Result: added restriction: isDerivedFrom some TransactionHistory. 

    15a.  Change filter class connection from tradeline to loan contract to be to Contract, not necessarily a loan contract, could be utilities account, or rental agreement. Always a contract behind it. Also about paying bills, failure to pay, 
    15b.  Tradeline not derived from the contract. maybe isBasedOn Contract? or is based on the transaction history of the contract?

    Result: added isDerivedFrom some TransactionHistory restriction to CreditTradeLine. TransactionHistory is tied to a Contract. So, there is a property path from the Tradeline to the Account viat the TransactionHistory.

  • Michael Uschold Consider how to broaden to CreditScoreModelScheme rather than  CreditScoreModelType, Off-line withy Lynn, maybe look at arrangement in FIBO FND. Not that different from addressing scheme. MOVE TO ID RATIONALIZATION
    Result: I’m not sure in what sense a CreditScoreModelScheme is an AddressingScheme, which is itself a kind of IndexingScheme (in FND).  An address is an index to a location. What is a credit model type an index to?   Does this sound right?  If so, is there a good reason to do this now?
    I propose to defer for now, and change it if required by HMDA.

  • Jennifer Bond-Caswell, Lynn Calahan [X], Michael Uschold - continue discussion of necessity of adding Identifier class LOAN-55 - Getting issue details... STATUS . Describe CreditScore LOAN-56 - Getting issue details... STATUS .

  • Michael Uschold - edit CreditInquiry from some to hasPart

  • Lynn Calahan [X] and Jennifer Bond-Caswell - refine CreditRequest v. CreditReportRequest and definitions

  • Lynn Calahan [X] and Jennifer Bond-Caswell - review and further rationalize CreditRepository and CreditReportingAgency for presentation to working group

  • Michael Uschold - research with Foundations and bring back content regarding CreditScore and CreditRating superclass.

  • Michael Uschold - CreditScoreFactor should be min 0

  • Michael Uschold - confer with Foundations regarding existence of Account concept LOAN-54 - Getting issue details... STATUS