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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A term defined in section 106 of the federal Truth in Lending Act (15 USC 1606), which expresses on an annualized basis the charges imposed on the borrower to obtain a loan (defined in the Act as "finance charges"), including interest, discount and other costs.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary, #MISMOApprovedAcronym
Extensible Markup Language is a simple, flexible text format. It is essentially a set of rules or convention for putting structured data in a text file. It is platform independent which allows the computer to generate or read files easily. XML uses tags to delimit pieces of data, but leaves the interpretation of the data up to the application.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary, #MISMOApprovedAcronym
The rate at which banks in the foreign market lend dollars to one another. LIBOR varies by deposit maturity. A common interest rate index; one of the most valid barometers of the international cost of money.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary, #MISMOApprovedAcronym
A geographic area designated by the U.S. Census Bureau for purposes of collecting and disseminating demographic information.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary, #MISMOApprovedAcronym
Acronym for the items included in a monthly mortgage payment: principal, interest, taxes and insurance.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary, #MISMOApprovedAcronym
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