Michael Petree

1
Michael Petree

• First Franklin Financial

2
First Franklin

• Current functions supported by MISMO Standards
  
• Mortgage Application
• Credit Request / Response
• Automated Underwriting
• Flood Request / Response
• Title Request / Response

3
Macro Drivers for Moving Towards Standardization

• Overall market must move towards less
  fragmentation
• This technology standard compresses the value
  chain
• Value chain scalability becomes inherent
• Overall market driven to being efficient
• Small players will have capabilities of large
  companies
• Large companies will be as nimble as small
  companies

4
Internal Business Drivers

• Custom interface development too expensive
• Missed opportunities due to development /
  deployment timelines
• Lack of standards created high switching costs
• Broad adoption of standards ultimately allows
  First Franklin to take advantage of all best of
  class vendors and applications
• Long-term benefits will be easier to maintain and
  improve business recovery (one point of failure
  also implies one point of recovery)

5
First Franklins Wins

• Two instances where third-party interface
  development reduced from 4-6 months to POC
  testing in 2 weeks
• Reduces overall time for interface development
  by 50 since specifications are pre-defined
• As more vendors move towards platform, internal
  ROI will be significant