See American Land Title Association.

American Land Title Association (ALTA)

The American Land Title Association is the national trade association and voice of the abstract and title insurance industry. ALTA members search, review and insure land titles to protect home buyers and mortgage lenders who invest in real estate.

Additional information is available at www.alta.org .

Antitrust Policy

The antitrust policy under which MISMO operates can be found at http://www.mismo.org/files/PolicyDocuments/MISMOAntritrustPolicy.pdf .

The MISMO Workgroup responsible for overseeing the development and proposed maintenance for all MISMO specifications.

See Business Rules Exchange Workgroup.

BREW's mission is to develop, promote, and maintain voluntary electronic commerce standards for the exchange of business rules for the mortgage industry. BREW will specify a framework of recommendations, guidelines, and references for the exchange of business rules that is consistent with existing MISMO recommendations and specifications. BREW’s scope will stay within the confines of business rules which need to be shared (or exchanged or interchanged) among partners.

Additional information is available on MISMO's Workgroups Page at http://www.mismo.org/AboutMISMO/Workgroups.htm.

The leader of a MISMO Workgroup. Responsible for facilitating workgroup meetings and deliverables.

Contivo Builder

A Semantic Modeling application recently adopted by MISMO. This Contivo product is used to manage MISMO’s Logical Data Dictionary as well as Process Area Schemas. MISMO is using Contivo Builder to build the v2.x data model as well as the new v3.x data model. Try Contivo Builder by accessing the Quick Link from MISMO's Home Page.

Core Data / Structures (CDS)

The MISMO Workgroup responsible for ensuring that consistent data definitions and business information is used across all MISMO real estate finance specifications.

Additional information is available on MISMO's Workgroups Page at http://www.mismo.org/AboutMISMO/Workgroups.htm.

Core Data / Structures Representative

Each Workgroup designates a member as its Core Data / Structures Representative. This member acts as a liaison between the Workgroup and core, bringing Workgroup data items to CDS for review.

Council of Chairs (CoC)

A MISMO Group made up of the Chairs from each Workgroup as well as MBA Staff. The CoC coordinates efforts across Workgroups and performs project management activities according to MISMO's Work Request Process. Its mission is to assess and monitor the status of work in progress and new work requests presented to MISMO, and to facilitate communication among all MISMO Workgroups. The CoC is responsible for reviewing work requests that have been first evaluated and approved by MISMO staff, for the purpose of finalizing a Statement of Work that identifies resources, timing, and other requirements.

New MISMO Workgroup created to manage the MISMO Version 3.0 process. This group represents a subset of the Architecture WG and replaces the previously existing Core Structures Workgroup. Workgroup manages the MISMO Engineering Guidelines (MEGs) and creation of guidelines for the Version 3.0 architecture.

Digital Signature

Document Type Definition (DTD)

A file that defines the markup language that will be used to describe the data. It defines and names the elements that can be used in the document, the order in which the elements can appear, the element attributes that can be used and other document features.

See Document Type Definition.

Electronic Signature

An electronic sound, symbol, or process, attached to or logically associated with a record and executed or adopted by a person with the intent to sign the record in conformance with the UETA regulations.

A mortgage where the critical loan documentation - specifically the promissory note, assignments and security instrument, are created, executed, transferred and stored electronically. AKA - the paperless mortgage.

eMortgage Closing Interface Transactions (eMCIT)

Workgroup that defines the standard transaction set for the closing / closing package generation within the retail mortgage process.

Additional information is available on MISMO's Workgroups Page at http://www.mismo.org/AboutMISMO/Workgroups.htm.

Engineering Guides

Provides the rules, guidelines and best practices for developing a set of data structures that are similar in format and contain common syntax and structures. Used by the developers of XML standards within MISMO to achieve consistent and technically appropriate XML that meets the needs of the user community.

Access MISMO's Engineering Guides at http://www.mismo.org/SpecificationsAndGuidance/ImplementationandEngineeringGuidelines.htm.

A transferable record as defined by ESIGN or UETA, which ever is applicable.

See the eMortgage documentation for details at http://www.mismo.org/SpecificationsAndGuidance/eMortgageSpecificatons.htm .

See Electronic Signature.

The Governance Committee, elected from a cross section of the industry, provides oversight for MISMO‘s administration and policy development.

Documents published by the individual workgroups to assist those individuals and companies in the implementation of a particular MISMO standard. It may contain overviews of the underlying technology such as methods of connectivity, XML, DTDs etc; sample XML for the specified transaction; test cases and general rules of the road when implementing the standard.

Download Implementation Guides from MISMO's Web site at http://www.mismo.org/SpecificationsAndGuidance/ImplementationandEngineeringGuidelines.htm.

Intellectual Property Rights Policy (IPR Policy)

The policy under which all MISMO work efforts are performed. It facilitates the development, use and openness of MISMO standards for the benefit of participants in the real estate finance industry and consumers of mortgage and real estate investment products and services. It sets for the do's and don'ts regarding the disclosure and licensing of intellectual property rights in regard to the development and implementation of the MISMO standards.

Read MISMO's IPR Policy on MISMO's Web site at http://www.mismo.org/files/PolicyDocuments/MISMOIPRPolicy.pdf.

IPR Policy

See Logical Data Dictionary.

Listserv is an electronic mailing list software application. Signing up for one or more Listservs means you will be included on emails within the specified workgroup. Typically the Listservs are used to send out agendas for regularly scheduled calls, to send out information pertinent to the workgroup etc.

Find out about signing up for MISMO Listservs by clicking on the link under "4 Ways to Get Involved with MISMO" on MISMO's Home Page.

Logical Data Dictionary (LDD)

MISMO maintains a Logical Data Dictionary (LDD) of all data points that have been approved and adopted as part of the standard. A complete copy of the LDD is published on the MISMO web site. Each entry in the LDD contains the name of the data point, a definition, a list of business process areas in which it is used, the data type, and for enumerated data types, and a list of valid values.

Access the LDD on the Residential Specifications page of MISMO's Web site at http://www.mismo.org/SpecificationsAndGuidance/ResidentialSpecifications.htm.

This acronym stands for MISMO Engineering Guideline. A MEG is a topic-based document that describes some aspect of the practical details how MISMO Specifications are created. For example, there is a MEG which describes how MISMO uses XML Namespaces. Collectively, these MEGS compose the complete MISMO Design Specifications and Guidelines.

Access MISMO's MEGs from the Implementation and Engineering Guidelines page of MISMO's Web site http://www.mismo.org/SpecificationsAndGuidance/ImplementationandEngineeringGuidelines.htm .

See Mortgage Electronic Registration Systems, Inc.

See Mortgage Industry Standards Maintenance Organization.

Mortgage Electronic Registration System (MERS®)

MERS® was created by the mortgage banking industry to streamline the mortgage process by using electronic commerce to eliminate paper. Their mission is to register every mortgage loan in the United States on the MERS® System. MERS® acts as nominee in the county land records for the lender and servicer. Any loan registered on the MERS® System is inoculated against future assignments because MERS® remains the nominal mortgagee no matter how many times servicing is traded. It is fundamentally a national registry that identifies who has control of an electronic note.

Additional Information is available at http://www.mersinc.org/.

Mortgage Industry Standards Maintenance Organization (MISMO)

Mortgage Industry Standards Maintenance Organization, Inc. (MISMO) was established by the Mortgage Bankers Association (MBA) to coordinate the development and maintenance of Internet based Extensible Markup Language (XML) real estate finance specifications.

MXCompliance

A service within MISMO that provides a means for lenders and/or vendors to demonstrate compliance with the various MISMO standards and earn certification trademarks that can be used to promote a product's compliance with the standards. The MXCompliance web site provides the services needed to test products, gain and maintain certification and promote certified lenders/vendors as key players in the industry. Certification grants an organization the use of the “MISMO Compliant” Certification Mark.

Additional information is available at http://mxcompliance.mismo.org .

National Notary Association (NNA)

Established in 1957, NNA is a leading authority on the American Notary office and is dedicated to educating, serving, and advocating for Notaries throughout the United States. NNA's professional programs, services, model legislation, and technology initiatives help Notaries advance their careers and practice their profession with with high ethical standards and professionalism. NNA not only educates Notaries on their critical duties, assists state officials in setting rules for Notaries, and provides expert testimony, it also provides information to the public about the Notary's role. NNA is a pioneer and leader in the field of electronic notarization, with its introduction of the National eNotary Registry and the Electronic Notary Seal™.

Additional information is available at http://www.nationalnotary.org .

A Company or individual that participates in MISMO, but not as a formal Subscriber. A non-subscriber does not pay dues. A non-subscriber is ineligible to run for a seat on the Governance Committee or for a workgroup leadership position without a waiver from Governance. Non-subscribers do not get to participate in formal MISMO votes, but can participate in workgroup-level informal votes. Non-Subscribers pay a nominal registration fee for attendance at MISMO events.

PKI

See Public Key Infrastructure.

Policies and Procedures

The policies under which MISMO is run can be found at

See Property Records Industry Association.

Process Area

A grouping of related business process areas in which certain MISMO Specifications may be used. Process Areas and Workgroups are sometimes synonymous, but in cases like the Origination workgroup, a single workgroup can encompass multiple process areas (Application, Underwriting, and Closing in that case).

Property Records Industry Association (PRIA)

The Property Records Industry Association (PRIA) is a not-for-profit corporation. The Association represents a unique partnership of business and government members of the property records industry, with the end goal of facilitating recordation and access to public property records. This goal is accomplished by facilitating the research, development, creation and implementation of national standards, systems and procedures for the industry.

Additional information can be found at http://www.pria.us/ .

Public Key Infrastructure

A system that provides the basis for establishing and maintaining a trustworthy networking environment through the generation and distribution of keys and certificates. This is also the foundation technology for providing enhanced Internet security.

Real Estate Property Information Workgroup (REPI)

Maintains the business data definitions and resulting electronic formats used to report and value real estate property information. Real Estate Property Information may incorporate the business information found in real estate appraisals, Broker Price Opinions (BPO), multiple listing services (MLS), inspections and public records. that can be used to initiate, modify, or cancel requests for real estate property descriptions. The transaction sets are used to transfer information among real estate industry participants.

Additional information is available on MISMO's Workgroups Page at http://www.mismo.org/AboutMISMO/Workgroups.htm.

When a MISMO specification is approved as a standard, it is posted on the MISMO web site for a thirty day IPR review period. Once it completes this review, without any comment, it is officially released to the industry.

See Real Estate Property Information Workgroup.

Residential Technology Committee

It is the technology steering committee for MBA's residential members, responsible for identifying various issues and making recommendations for policies and initiatives involving technology to MBA's Residential Board of Governors (RESBOG). RESTECH is composed of eight representatives from MBA member companies of all sizes.

See Residential Technology Committee.

Secure Identity Services Accreditation Corporation (SISAC)

SISAC is responsible for accrediting digital identity credential issuers for the mortgage industry. SISAC is owned by the MBA.

Additional information is available on SISAC's Web site at http://www.sisac.org/default.html.

It is a set of rules to which an XML document must conform in order to be considered valid according to that schema. It is designed with the intent of validation resulting in a collection of information adhering to specific data types, which can be useful in the development of XML document processing software. MISMO is moving from the use of DTDs to schemas.

MISMO’s subscriber-only collaborative authoring tool that MISMO uses to support the various Workgroups in the creation of documents for use in developing the standards. It supports version control, document approval and a basic search facility. Each Workgroup has its own sub site within the MISMO SharePoint web site.

MISMO subscribers can access SharePoint from the Quick Links section of MISMO's Home Page.

See Secure Identity Services Accreditation Corporation.

See Standards and Procedures for Electronic Records and Signatures.

Standards and Procedures for Electronic Records and Signatures (SPeRS)

SPeRS is a cross industry initiative to establish commonly understood rules of the road available to all parties seeking to take advantage of the powers conferred by ESIGN and UETA. SPeRS is a set of guidelines, procedures, checklists and strategies for developing systems to create, deliver, sign, manage and transfer legally enforceable electronic records and signatures in commercial and consumer transactions. Intended to help companies develop cross-discipline system design teams for implementing electronic commerce. It is focused on the behavioral aspects of the interaction between participants in the transaction. SPeRS is technology neutral.

Additional information is available at www.spers.org .

A company that subscribes to MISMO pays annual dues and is eligible to vote, can sponsor candidates for any MISMO leadership positions, and can send representatives to MISMO events at no charge.

Additional information about MISMO Subscribers and how to become a Subscriber are athttp://www.mismo.org/GettingStarted/BecomeASubscriber.htm.

Short for “Trimester Workgroup Meeting”. MISMO holds three face to face working meetings annually. Major votes (such as final approval of standards) tend to be taken at Trimester meetings. Additional information can be found on the MISMO Trimester Meeting page.

Uniform Electronic Transaction Act. Its overarching purpose is to bring into line the differing State laws over such areas as retention of paper records (checks in particular), and the validity of electronic signatures, thereby supporting the validity of electronic contracts as a viable medium of agreement.

The USNA was launched in September 2002 to provide service, support, and notarial supplies to notaries in all 50 states and the District of Columbia. USNA provides professional resources to the practicing notary public by constantly researching and developing new products and services. USNA is active in helping to draft legislation, commenting on proposed changes in the law, and reporting on new laws that have been passed. USNA offers discounted prices on notary equipment and accessories in addition to subscriptions to the monthly eNewsletter, Notary Review.

Additional information is available at www.eNotary.org.

See United States Notary Association.

Indicates the Current production major version of MISMO. This implies a set of consistent XML standards and practices that are distinct from other major versions – such as the use of XML Attributes to contain “leaf” data elements.

Version 2.x standards can be downloaded from http://www.mismo.org/SpecificationsAndGuidance/ResidentialSpecifications.htm .

Indicates the Next major version of MISMO. This implies a set of consistent XML standards and practices that are distinct from other major versions – such as the use of XML Elements to contain “leaf” data elements.

Along with the Chair, responsible for facilitating workgroup meetings and deliverables.

A wiki is a collaborative website which can be directly edited by anyone with access to it. MISMO has implemented a wiki in support of the various workgroups for the sharing of information.

MISMO's wiki can be accessed from the Quick Links section of MISMO's Home page.

A document detailing major MISMO work to be performed. Work Requests are managed by the Council of Chairs and serve to provide visibility across work groups of major initiatives.

A formally-chartered organization within MISMO tasked with addressing one or more concrete aspects of the standards-setting process. A workgroup generally has a listserv, meets for regular conferences calls and face-to-face meetings, and has an official Chair and Vice-Chair.

Extensible Hypertext Markup Language. XHTML is an application of XML. Because they need to be well-formed, true XHTML documents allow for automated processing to be performed using standard XML tools—unlike HTML, which requires a relatively complex, lenient, and generally custom parser. XHTML can be thought of as the intersection of HTML and XML in many respects, since it is a reformulation of HTML in XML.

Extensible Markup Language. XML is a markup language designed specifically for delivering information over the World Wide Web. In creating an XML document, the developer creates and assigns the element names and their associated values.

A version of a 2.x Specification ported to XML Schema form. The term zero-delta is meant to show that these schemas should be identical from a structure and business rule perspective to the V2 DTDs that they derive from (to the extent possible).