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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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Data #LDD #Servicing
Bid

1) The price at which a seller will sell particular securities. In the securities and commodities trade, the highest price offered for a security or commodity at a given time. Also called a quotation or quote. 2) Describes required home repairs or improvements and provides an estimation of cost to complete. AKA: Estimate to Complete Work, Repair Estimate, Alteration Improvement and Repairs.

Term Source: MBA Glossary, LDD Document

Term Type: Data, Document

Focus Area: #LDD, #MBAGlossary, #Origination, #Servicing

 

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