Business Glossary-Term List

In options trading, the point at which the strike price is equal to the market price of the underlying security.

Term Source: MBA Business Glossary

Term Type: Event

Focus Area: #MBAGlossary

A market characterized by falling prices. A bear market in the mortgage industry may be triggered by rising interest rates.

Term Source: MBA Business Glossary

Term Type: Event

Focus Area: #MBAGlossary

A formal process to announce the intent to pursue development of a MISMO Product and solicit participation by interested parties.

Term Source: MISMO Governing Documents

Term Type: Event

Focus Area: #MISMOGOV

Development Process Document Only: 1. Failure to adhere to, or rejection of, the IPR or Antitrust Policies; 2. Repeated blatant disregard of MISMO-approved processes after receiving a written request from MISMO to cease and desist prohibited activities; and 3. Making endorsement claims prohibited of a MISMO Member (or that would be prohibited of a person or entity if they were a Member) under MISMO's Bylaws or MISMO-approved processes.

Policies and Procedures Only: 1. Failure to adhere to or rejection of the IPR or Antitrust Policies. 2. Repeated blatant disregard of these Policies and Procedures after receiving a written request from MISMO to cease and desist prohibited activities; and 3. Making endorsement claims prohibited of a MISMO Member (or that would be prohibited of a person or entity if they were a Member) under MISMO's Bylaws or these Policies and Procedures.

Term Source: MISMO Governing Documents

Term Type: Event

Focus Area: #MISMOGOV

A MERS eRegistry Request that includes a Digital Signature and Registration data. (No eNote is presented at Registration).

Term Source: MISMO Life of Loan Business Process Model

Term Type: Event

Focus Area: #eMortgageGlossary

The contracted date when the actual payment of funds and delivery of mortgage-backed securities occurs.

Term Source: MBA Business Glossary

Term Type: Event

Focus Area: #MBAGlossary

Information relevant to specific transactions that is required by law.

Term Source: MBA Business Glossary

Term Type: Event

Focus Area: #MBAGlossary

See DISCOUNTED CASH-FLOW ANALYSIS.

Term Source: MBA Business Glossary

Term Type: Event

Focus Area: #MBAGlossary

Term that denotes property in trouble due to one of several reasons, such as: cost overrun, insufficient income, poor management or any other conditions which affect the mortgagor's ability to repay the loan on a timely basis.

Term Source: MBA Business Glossary

Term Type: Event

Focus Area: #MBAGlossary

To release an interest one has in property.

Term Source: MBA Business Glossary

Term Type: Event

Focus Area: #MBAGlossary

Repurchase agreement in which a security is sold with an agreement that a substantially similar security will be repurchased at a later date at a given price.

Term Source: MBA Business Glossary

Term Type: Event

Focus Area: #MBAGlossary

When an owner of property is given certain rights to use another's property.

Term Source: MBA Business Glossary

Term Type: Event

Focus Area: #MBAGlossary

Any advance of new funds to a mortgage banker for funding or purchasing mortgage loans where the collateral package is in the possession of the collateral agent and is free of lien or bailment.

Term Source: MBA Business Glossary

Term Type: Event

Focus Area: #MBAGlossary

Any notarial act performed electronically, that a notarial officer may perform under state law.

Term Source: MISMO eMortgage Glossary

Term Type: Event

Focus Area: #eMortgageGlossary

1) The act of registering the security instrument electronically with the county recorder or similar jurisdictional authority. 2) An act of registering the security instrument and other recordable documents electronically with the county recorder or similar jurisdictional authority. eRecording does not require the security instrument to be electronically executed. A county often records a scanned image of the paper security instrument when it eRecords. For models of eRecording, see the PRIA Technology Committee Business Requirements Work Group: Models of eRecording - A Continuum of eRecording - https://www.pria.us/i4a/doclibrary

Term Source: MBA Business Glossary

Term Type: Event

Focus Area: #eMortgageGlossary, #MBAGlossary

A financial tool whereby Ginnie Mae guaranteed mortgage-backed securities are sold to a security dealer who simultaneously agrees to repurchase them at a later date at a fixed price. No recorded transfer takes place and the security dealer holds the Ginnie Mae certificate. Also called a "repo."

Term Source: MBA Business Glossary

Term Type: Event

Focus Area: #MBAGlossary

The combination of identity and integrity to circumvent claims of denial of having been party to and accepting the terms of an online transaction after the transaction has been conducted.

Term Source: MBA Business Glossary

Term Type: Event

Focus Area: #MBAGlossary

The term includes taking an acknowledgment, administering an oath or affirmation, taking a verification on oath or affirmation, witnessing or attesting a signature, certifying or attesting a copy, and noting a protest of a negotiable instrument.

Term Source: MISMO eMortgage Glossary

Term Type: Event

Focus Area: #eMortgageGlossary

Notice by HUD area offices to inform potential project sponsors of contract authority available under federal programs.

Term Source: MBA Business Glossary

Term Type: Event

Focus Area: #MBAGlossary

Non-Sufficient Funds

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Event

Focus Area: #LDD, #MISMOApprovedAcronym