Business Glossary-Term List

1)Days on which a bank or market is open for business or trading; usually excludes Saturdays, Sundays and legal public holidays. 2)The type of day used by business partners to specify time-bound requirements for processing an eMortgage.

Term Source: MBA Glossary, MISMO eMortgage

Term Type: Other

Focus Area: #eMortgage, #MBAGlossary

An electronic file that contains the Public Key, the name of the certificate holder (which may be either a person or a system name), and a date range during which the certificate can be considered valid as well as the Digital Signature of a Certificate Authority for Authentication, which provides assurance that the Public Key belongs to the entity to which the certificate was issued. A Digital Certificate may also be referred to as a Public Key Certificate.

Term Source: MISMO eMortgage

Term Type: Document

Focus Area: #eMortgage, #MBAGlossary

An eClosing is the act of closing a mortgage loan electronically. This occurs through a secure environment(s) where one or more required closing documents are accessed, presented, and signed electronically.

Term Source: MISMO eMortgage

Term Type: Process

Focus Area: #eMortgage, #MBAGlossary

The entity whose role it is to ensure the secure and accurate storage and archival of eDocuments; e.g., the person or entity charged with maintaining the Authoritative Copy of the Transferable Record.

Term Source: MISMO eMortgage

Term Type: Actor

Focus Area: #eMortgage, #MBAGlossary

The secure transfer of data and/or documents created electronically from one entity to another. There is also a product and service from MERSCORP Holdings named eDelivery see MERS� eDelivery.

Term Source: MISMO eMortgage

Term Type: Process

Focus Area: #eMortgage, #MBAGlossary

A document that is created, accessed, presented, and/or signed electronically. An eDoc may be a paper document that is converted to an electronic form.

Term Source: MISMO eMortgage

Term Type: Document

Focus Area: #eMortgage, #MBAGlossary

A contract or other record created, generated, accessed, sent, communicated, received, or stored by electronic means.

Term Source: MISMO eMortgage

Term Type: Document

Focus Area: #eMortgage, #MBAGlossary

An action by a person to electronically apply an electronic sound, a symbol, or process attached to or logically associated with a record and executed or adopted by a person with the intent to sign the record. Electronic signatures in MISMO� SMART Docs� may be a typed name (a Text Signature), a digitized image, such as a "picture" of a written signature created by a signing pad or by other means (an Image Signature), or a Digital Signature. A SMART Doc� that contains a scanned or digitized version of an executed paper document has a "Wet" (handwritten) signature type.

Term Source: MISMO eMortgage

Term Type: Process

Focus Area: #eMortgage, #MBAGlossary

A mortgage loan where the closing documents -- through an eClosing process that includes, at a minimum, the Transferrable records -- are created, accessed, presented, executed, transferred and stored electronically.

Term Source: MISMO eMortgage

Term Type: Other

Focus Area: #eMortgage, #MBAGlossary

See Transferable Record. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.

Term Source: MISMO eMortgage

Term Type: Document

Focus Area: #eMortgage, #MBAGlossary

1) The act of registering the security instrument electronically with the county recorder or similar jurisdictional authority. 2) An act of registering the security instrument and other recordable documents electronically with the county recorder or similar jurisdictional authority. eRecording does not require the security instrument to be electronically executed. A county often records a scanned image of the paper security instrument when it eRecords. For models of eRecording, see the PRIA Technology Committee Business Requirements Work Group: Models of eRecording - A Continuum of eRecording - https://www.pria.us/i4a/doclibrary

Term Source: MBA Glossary

Term Type: Event

Focus Area: #eMortgage, #MBAGlossary

A family of document types, schemas, and modules that reproduce, subset, and extend HTML. XHTML conforms to the XML standard.

Term Source: MISMO eMortgage

Term Type: Data, Other

Focus Area: #eMortgage, #MBAGlossary

Used as a verb, hashing is the process to calculate a "digital fingerprint" of an electronic document with a mathematical algorithm. The digital fingerprint is unique and entirely based upon the specific content of the electronic document, including any signatures. Any change to the electronic document -- even something as small as the insertion or deletion of a single character -- will create two distinct and unlike digital fingerprints. Comparing the fingerprint and the recalculation of the digital fingerprint at a later date provide evidence of tampering.

Term Source: MISMO eMortgage

Term Type: Process

Focus Area: #eMortgage, #MBAGlossary

The industry standard language defined by the W3C for representing a web page.

Term Source: MISMO eMortgage

Term Type: Other

Focus Area: #eMortgage, #MBAGlossary

A digitized presentation of a document.

Term Source: MISMO eMortgage

Term Type: Other

Focus Area: #eMortgage, #MBAGlossary

The participant named on the MERS� eRegistry that is authorized by the Controller to perform certain MERS� eRegistry transactions on the Controller's behalf. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.

Term Source: MISMO eMortgage

Term Type: Actor

Focus Area: #eMortgage, #MBAGlossary

All documents from the origination and/or closing process (including paper or Electronic Records) associated with a real-estate secured loan and/or customarily included in the loan documentation file created by the originating lender.

Term Source: MISMO eMortgage

Term Type: Other

Focus Area: #eMortgage, #MBAGlossary

XML Namespaces defined by the W3C provide a mechanism for authoring compound documents (documents from multiple sources) in such a way that provides global identification of the source without collisions of tag names or other structural definitions.

Term Source: MISMO eMortgage

Term Type: Other

Focus Area: #eMortgage, #MBAGlossary

A Negotiable Instrument is defined in Article 3 of the Uniform Commercial Code. Most Transferrable records related to first mortgage loans are intended to be Negotiable Instruments.

Term Source: MISMO eMortgage

Term Type: Document

Focus Area: #eMortgage, #MBAGlossary

A written unconditional promise to pay a specified sum of money in accordance with the terms of the writing.

Term Source: MISMO eMortgage

Term Type: Document

Focus Area: #eMortgage, #MBAGlossary