MISMO Seeks Comment on Updated Business Glossary

WASHINGTON, D.C. (October 8, 2025) – MISMO®, the real estate finance industry's standards organization, today announced that it is seeking public comment on an updated version of the Business Glossary and associated User Guide. The 30-day public comment period will run through November 7, 2025. 

Recent updates incorporate terms from the MISMO Artificial Intelligence Glossary, key terminology related to Housing Counseling participants and practices, and terms associated with the MISMO Life of Loan Process Model related to Origination and Servicing. The update also introduces two new Term Types, “Outcome” and “Regulation”, providing additional context and clarity to glossary entries, as well as a new Focus Area and Source for artificial intelligence related terms.

The MISMO Business Glossary is a collection of terms and definitions that draws from MISMO and external sources. It provides a common language to support consistent communication across the real estate finance industry, helping organizations streamline processes and improve data accuracy. The glossary includes definitions for business processes, business events, terms, calculations, documents, and forms.

The public comment period allows those who participated in the proposal at least 30-days’ notice prior to final release to review and disclose any applicable Patent Rights (as defined by MISMO’s 2018 Intellectual Property Rights Policy).

MISMO requests that any organization that may have any patent or patent applications, or other intellectual property rights that might be infringed upon by an organization that uses or is compliant with these proposed MISMO products to disclose them at this time in writing. All comments and disclosures are due by November 7, 2025, and should be directed to [email protected].