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:The process of transferring serviced loan(s) from one Servicer to another.
Term Source: MISMO (Non-LDD)
Term Type: Process
Focus Area: #MISMOLifeOfLoan, #Servicing
An identity proofing method that relies on something you know - the verification of information that is unique to the Principal, should be known by the Principal, and can be readily demonstrated by the Principal. Some common forms of this type of identity proofing include Knowledge- Based Authentication (KBA), passwords, or personal identification numbers. See also definition of Knowledge-Based Authentication
Term Source: MISMO (Non-LDD)
Term Type: Process
Focus Area: #eMortgage
An identity proofing method that relies on the verification of something you are - the Principal�s unique personal traits. Some common forms of this type of identity proofing include comparisons of fingerprints, iris, voice, or face to a reference scan.
Term Source: MISMO (Non-LDD)
Term Type: Process
Focus Area: #eMortgage
An identity proofing method that relies on something you have - the verification of the Principal�s possession of unique information or credentials. Some common forms of this type of identity proofing include Digital Certificates, physical or digital government-issued identification cards, one-time passwords, or a response to a message delivered to a mobile device.
Term Source: MISMO (Non-LDD)
Term Type: Process
Focus Area: #eMortgage
An identity verification method based on knowledge of private information associated with the claimed identity of the person.
Term Source: MISMO (Non-LDD)
Term Type: Process
Focus Area: #eMortgage
A method of access control in which a user is granted access after successfully presenting evidence through a minimum of two methods of authentication of identity verification. See also, Identity Verification by Knowledge, Identity Verification by Possession, and Identity Verification by Personal Trait.
Term Source: MISMO (Non-LDD)
Term Type: Process
Focus Area: #eMortgage
A key initiative in advancing Networked Supervision under which all states are encouraged to participate in or accept the result of one multi-state exam for one company.
Term Source: MISMO (Non-LDD)
Term Type: Process
Focus Area: #Origination
The process in which the servicer begins the foreclosure activities.
Term Source: MISMO (Non-LDD)
Term Type: Process
Focus Area: #MISMOLifeOfLoan, #Servicing
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