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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When true, indicates the purpose of the extension of credit exempts the transaction from Regulation Z requirements.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
Specifies the creditor organization type exempts the transaction from Regulation Z Ability-to-Repay requirements.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
A free-form text field used to collect additional information when Other is selected for Ability To Repay Exemption Creditor Organization Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
Specifies the Loan Program that exempts the transaction from Regulation Z Ability-to-Repay requirements.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
A free-form text field used to collect additional information when Other is selected for Ability To Repay Exemption Loan Program Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
Specifies the reason that transaction is exempt from Regulation Z Ability-To-Repay requirements.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
A free-form text field used to collect additional information when Other is selected for Ability To Repay Exemption Reason Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
The ratio of all debt payments of the borrowers, including proposed housing expenses, to the qualifying income of the borrowers (back-end ratio) based on the note interest rate.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
Specifies the method by which the creditor satisfied Regulation Z Ability-to-Repay requirements.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication
A unique value that represents a user defined version identifier.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanDelivery, #MISMO3.4_iLAD
Indicates the room is above grade and can be included in GLA.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
The rate at which vacant space is either leased or sold to users in the market place. Absorption rate is usually expressed in square feet per year or, in the case of multifamily housing, number of units per year.
Term Source: MBA Business Glossary
Term Type: Data
Focus Area: #MBAGlossary
A unique number (or alpha-numeric designator) assigned to a land Title Abstract document (i.e.: a sequential collection of documents relating to a specific parcel of land). The boundaries of a parcel of real property is determined from the information contained in the Title Abstract document.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
A method of calculating depreciation in which a larger portion of depreciation is charged in early years than in later years.
Term Source: MBA Business Glossary
Term Type: Data
Focus Area: #MBAGlossary
Indicates that mortgagor participates in some sort of accelerated principal re-payment program which may be administered by a third party.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
An instruction as to the signing methods that are acceptable for this document. It does not reflect a document instance state.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
Describes the number of accessory units associated with the structure
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
A portion of the amount paid by a borrower for mortgage insurance that ensures the continuance of mortgage payments in the event of a mortgagor's disability or illness.
Term Source: MBA Business Glossary
Term Type: Data
Focus Area: #MBAGlossary
When true, indicates the user requested an account transcript which contains information about the financial status, penalties, and adjustments. Used on the IRS Form 4506T
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
Money owed by a business to suppliers of goods or services. Accounts payable are considered current liabilities on the balance sheet.
Term Source: MBA Business Glossary
Term Type: Data
Focus Area: #MBAGlossary
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