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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 #LoanApplication #LoanDelivery #Origination
Loan Foreclosure Or Judgment Indicator

When true, indicates the Borrower answered �yes� to the declaration question: �Have you directly or indirectly been obligated on any loan that resulted in foreclosure, transfer of title in lieu of foreclosure, or judgment?�

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD, #Origination

Loan Level Credit Score Selection Method Type

Specifies the method used to select the Loan Credit Score across all borrowers.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD, #Origination

Loan Level Credit Score Selection Method Type Other Description

A free-form text field used to collect additional information when Other is selected for the Loan Credit Score Selection Method Type.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD, #Origination

Loan Level Credit Score Value

The one credit score value that represents the overall credit risk on the loan. This value is determined using credit score values for each qualifying borrower.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD, #Origination

Lock Datetime

The date and time on which the agreement to lock a price and interest rate was made.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD, #Origination

 

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