... a LIXI licence
What is a LIXI Licence
Your organisation's use of LIXI standards for transactions or to develop and sell products that support LIXI standards is contingent on holding the appropriate licence (renewed annually for the calendar year). This is distinct to a LIXI Membership.
Benefits of Using the LIXI Standards
Do I need to hold a LIXI Licence
Licensing is required for all companies utilising the LIXI standards as part of their business processes. This may include, but is not limited to, lenders sending and receiving electronic lodgements and performing LIXI-based straight-through processing; aggregators, valuation firms and mortgage insurers who participate in the electronic processes as well as software developers and service providers that develop or market LIXI-based products and services to their clients.
The LIXI standards are not open source, nor are they free, and they can only be utilised through the annual licensing program. There are licence categories and tiers appropriate to all levels of businesses in the lending chain.
Organisations starting on the road to implementing the LIXI Standard can apply for a free LIXI Developer licence, upon implementation and "go-live" a licence is required for the appropriate transaction type and volumes.
How do I become a LIXI Licensee
An ABN is required for a licence for the Australian Territory and an NZBN is required for a licence for the New Zealand Territory.
The application requires the following forms to be completed and submitted to LIXI:
- LIXI Licensing Application Form
- LIXI Licence Agreement (remember to initial document in space provided)
Once LIXI receives and accepts your licence application, an invoice will be raised (see LIXI Licence Fees for pricing details).
After payment is received, your licence will be activated immediately.
How much do LIXI Licences cost?
The schedule of fees is available here.
LIXI licence classes exist for businesses of all sizes and focus, whether they are nationally recognised lenders, mid-tier aggregators or mortgage managers, or local valuations firms for example. A business may license all or some of the LIXI standards as it suits their business operations. There are currently individual licensable Standards Packages, origination, valuations, settlement instructions, and insurance, as well as a Comprehensive Package which includes all standards.
Each Package also has a characteristic level associated with the scope of the organisation and their use of the standard(s). For example, if an organisation uses the Origination standard (O) for application lodgement and status messaging, and is a state-based or regional organisation (2), their licence class would likely be O2.
LIXI Licence Scenarios
The following examples are intended to enable members of the lending industry to determine when they are required to obtain a Licence from LIXI to use the LIXI standards. The list of examples is not exhaustive. If you cannot find an example that fits your particular business model or circumstances, then you should contact LIXI for clarification.
|LIXI Licence Required||LIXI Licence Not Required|
LENDER TO SALES CHANNEL COMMUNICATION (INCLUDING CAL APPLICATION SUBMISSIONS, BACKCHANNEL STATUS MESSAGING, COMMISSIONS REPORTS, PRODUCTS)
|Lender who develops own system, or licenses system from a 3rd part software vendor, where system sends, receives or stores data in LIXI format. Originator or Broker Group who develops own system, or licenses system from a 3rd party software vendor, where system sends, receives or stores data in LIXI format. Service Provider that operates an online platform for application lodgement and tracking where the system sends, receives or stores data in LIXI format.||Broker that is a member of Originator or Broker Group and who makes use of that party's systems to submit and track loan applications, receive commission statements and perform product research and qualification for clients. Broker or Consumer who logs on to a Lender or multi-Lender website to submit and track a loan application|
LENDER TO VALUER COMMUNICATION
|Lender who develops own system, or licenses system from a 3rd party software vendor, where system sends, receives or stores valuation data in LIXI format. Valuer, Valuation Firm or Valuation Panel Manager that develops own system, or licenses system from a 3rd party software vendor, where system sends, receives or stores valuation data in LIXI format.||Valuer or administrative staff member who uses a user interface to a valuation Panel Manager or Lender's system to manage or perform valuations. Lender who instructs a Valuation Firm or Valuation Panel Manager via a user interface to that party's LIXI-enables system.|
LENDER TO INSURER COMMUNICATION (LMI OR TITLE INSURANCE)
|Lender who develops own system, or licenses system from a 3rd party software vendor, where system sends, receives or stores settlement data in LIXI format. Settlement Agent that develops own system, or licenses system from a 3rd party software vendor, where system sends, receives or stores valuation data in LIXI format.||Individual paralegal/clerk/lawyer using Settlement Agent or Lender system user interface to perform the settlement function. Lender, Broker or other party that tracks settlement status via a user interface to the Settlement Agent's LIXI-enabled system.|