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: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
The address with the address number, pre-directional, street name, post-directional, address unit designators and address unit value.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
A value from a MISMO prescribed list that specifies the type of address.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
Specifies whether the occurrence of the adjustment is the first change or a subsequent change.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
The total amount of principal that has been paid from origination to date over and above the scheduled principal amount.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
The date the creditor or originator received the application from the borrower for the subject mortgage loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery, #MISMO3.4_iLAD
A unique identifier assigned by a party for all appraisal data delivered to the party for this loan. The party assigning the identifier can be provided using the IdentifierOwnerURI associated with a MISMO identifier.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanDelivery, #MISMO3.4_iLAD
Indicates whether the loan is assumable by another borrower.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanDelivery, #MISMO3.4_iLAD
A value from a MISMO prescribed list that specifies the type of physical attachment, if any, between the dwelling and adjacent dwellings.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
A unique identifier assigned by the underwriting system to the underwriting case for a specific loan application.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanDelivery, #MISMO3.4_iLAD
The loan approval recommendation determined by the Automated Underwriting system.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
A value from a MISMO prescribed list that represents the automated underwriting system used to evaluate a loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanDelivery, #MISMO3.4_iLAD
A free-form text field used to collect additional information when Other is selected for Automated Underwriting System Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanDelivery, #MISMO3.4_iLAD
A value from a MISMO prescribed list that represents the name of the AVM model used to calculate the valuation of the subject property.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
The name of the AVM model used to calculate the valuation of the subject property when Other is selected from the enumerated list.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
When true, indicates that a final balloon payment is required to fully pay off the loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
When true, indicates that the balloon loan has been reset to the current market rate.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
When true, indicates that the borrower declared bankruptcy within the past seven years.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
The guaranty fee rate prior to applying any adjustments, such as buyup/buydown. This can be specified in a price sheet, commitment, or other agreement. The guaranty fee is a portion of the interest on the loan that is paid to a party to ensure the timely payment of principal and interest to the holders of securities backed by the loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
The result of dividing the unpaid principal balance (UPB) of the mortgage (not including any financed mortgage insurance premium) by the value of the subject property.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
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