Business Glossary-Term List
Welcome to the MISMO Business Glossary - your online source of mortgage industry business terms and data point descriptions. Follow the links provided for Term Type; Focus Area; and Source descriptions; complete terms of authorized usage; and a more detailed description of the MISMO Business Glossary. Search tip: Use quotes for an exact search (e.g., "keyword or phrase").
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Search on:In options trading, the point at which the strike price is equal to the market price of the underlying security.
Term Source: MBA 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 Glossary
Term Type: Event
Focus Area: #MBAGlossary
The contracted date when the actual payment of funds and delivery of mortgage-backed securities occurs.
Term Source: MBA Glossary
Term Type: Event
Focus Area: #MBAGlossary
Information relevant to specific transactions that is required by law.
Term Source: MBA Glossary
Term Type: Event
Focus Area: #MBAGlossary
See DISCOUNTED CASH-FLOW ANALYSIS.
Term Source: MBA 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 Glossary
Term Type: Event
Focus Area: #MBAGlossary
To release an interest one has in property.
Term Source: MBA 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 Glossary
Term Type: Event
Focus Area: #MBAGlossary
When an owner of property is given certain rights to use another�s property.
Term Source: MBA 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 Glossary
Term Type: Event
Focus Area: #MBAGlossary
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 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 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 Glossary
Term Type: Event
Focus Area: #MBAGlossary
Notice by HUD area offices to inform potential project sponsors of contract authority available under federal programs.
Term Source: MBA Glossary
Term Type: Event
Focus Area: #MBAGlossary
A basic study conducted to evaluate the environmental condition of real property and/or improvements.
Term Source: MBA Glossary
Term Type: Event
Focus Area: #MBAGlossary
A study of the environmental condition of property/ improvements that is more detailed and in-depth than a Phase I audit. May include groundwater testing or testing of soil.
Term Source: MBA Glossary
Term Type: Event
Focus Area: #MBAGlossary
Property a lender acquires as the result of foreclosure.
Term Source: MBA Glossary
Term Type: Event
Focus Area: #MBAGlossary, #MISMOApprovedAcronym
Fee charged on VA mortgages to cover the administrative costs of the program.
Term Source: MBA Glossary
Term Type: Event
Focus Area: #MBAGlossary
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