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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(MISMO Members)
Focused on real estate finance transactions related to the origination, sale, and servicing of multifamily dwellings, office buildings, and other non-residential development projects.
Term Source: MISMO Governing Documents
Term Type: Other
Focus Area: #MISMOGOV
Occurs when one organization has the power to influence the direction of the management, policies, or activities of the other. One organization �controls� another in spite of the fact that the controlling organization may own, directly or indirectly, through intermediary companies or not, less than fifty percent of the other organization.
Term Source: MISMO Governing Documents
Term Type: Other
Focus Area: #MISMOGOV
Loan Origination System. A piece of software that automates the end to end loan manufacturing cycle.
Term Source: MISMO Governing Documents
Term Type: Other
Focus Area: #MISMOApprovedAcronym
Patent Rights are all patents and patent applications owned by a MISMO License Participant that would be infringed on by an organization that makes, has made, uses, sells, offers for sale, or imports a product or service using or complying with a MISMO Standard (except for any patents and patent applications that the MISMO License Participant disclosed to MISMO as not being subject to the Royalty-Free License.) NOTE: If the patent application is unpublished, the MISMO License Participant must identify the portions of the relevant MISMO Standard that infringes on the application.
Term Source: MISMO Governing Documents
Term Type: Other
Focus Area: #MISMOGOV
The number of votes cast for a winning candidate if this number is less than a majority but more than that cast for any other candidate.
Term Source: MISMO Governing Documents
Term Type: Other
Focus Area: #MISMOGOV
A brief statement describing the purpose and scope of a specific development effort.
Term Source: MISMO Governing Documents
Term Type: Other
Focus Area: #MISMOGOV
Focused on real estate finance transactions related to the origination, sale, and servicing of one-to-four unit single family dwellings.
Term Source: MISMO Governing Documents
Term Type: Other
Focus Area: #MISMOGOV
Work in Progress. Any MISMO Standard or MISMO Collateral that is in the development process including a standard or collateral that has been sent to the public for comment.
Term Source: MISMO Governing Documents
Term Type: Other
Focus Area: #MISMOApprovedAcronym
AUTHORIZED USAGE: All usage of this product is dictated by the terms and conditions within the MISMO 2018 Intellectual Property Rights (IPR) Policy. For more information, please see complete Authorized Usage / Patent Disclosure Request or contact [email protected].