The Settlements group is focused on adding support for settlements
to the Credit Application Language (CAL). Specifically they
are looking at the settlement instruction transaction sent from
lender to settlement agent. The current status of this group
is that they have completed analysis of the requirements and
have started to draft a new version of CAL. A Request-For-Comments
draft of CAL 1.3 should be published to the LIXI website in
the next few weeks.
The Commissions group is working to define lender to broker
transactions as they relate to commission payments (up-front,
trail and adjustments). This group expects to shortly publish
a document that will outline a standard for allowing brokers
to consolidated a view of their expected payments across multiple
lenders. Current planning calls for work to be completed in
the first half of 2004.
