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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The process of collecting loan-level data required for HMDA reporting, typically from multiple systems, depending on the Lender's or Servicer's business model.
Term Source: MISMO Life of Loan
Term Type: Process
Focus Area: #MISMOLifeOfLoan, #Origination, #Servicing
The process of deriving the data needed for the HMDA Loan Application Register (LAR).
Term Source: MISMO Life of Loan
Term Type: Process
Focus Area: #MISMOLifeOfLoan, #Origination, #Servicing
Process of obtaining the Property Valuation, which may consist of an Appraisal, Automated Valuation Model (AVM), and/or Broker Price Opinion (BPO) depending on Investor/Insurer requirements and Lender policies.
Term Source: MISMO Life of Loan
Term Type: Process
Focus Area: #MISMOLifeOfLoan, #Origination, #Servicing
Process of tracking, managing, certifying and safekeeping tamper evident authenticated copies of Electronic Notes (eNotes) and other electronic mortgage documents on behalf of Note owners and/or holders.
Term Source: MISMO Life of Loan
Term Type: Process
Focus Area: #MISMOLifeOfLoan, #Origination, #Servicing
Process of collecting loan-level data, deriving the Loan Application Register (LAR), and submitting the LAR to the CFPB.
Term Source: MISMO Life of Loan
Term Type: Process
Focus Area: #MISMOLifeOfLoan, #Origination, #Servicing
Process of tracking, managing, certifying and safekeeping paper Promissory Notes and other paper mortgage documents on behalf of Note owners and/or holders.
Term Source: MISMO Life of Loan
Term Type: Process
Focus Area: #MISMOLifeOfLoan, #Origination, #Servicing
Process of tracking, managing, certifying and safekeeping Promissory Notes and other mortgage documents on behalf of Note owners and/or holders.
Term Source: MISMO Life of Loan
Term Type: Process
Focus Area: #MISMOLifeOfLoan, #Origination, #Servicing
The process of submitting the HMDA Loan Application Register (LAR) to the CFPB
Term Source: MISMO Life of Loan
Term Type: Process
Focus Area: #MISMOLifeOfLoan, #Origination, #Servicing
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