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:American Bankers Association
Term Source: LDD Acronym
Term Type: Actor
Focus Area: #LDD, #MISMOApprovedAcronym
Accessory Dwelling Unit
Term Source: LDD Acronym
Term Type: Data
Focus Area: #LDD, #MISMOApprovedAcronym
Also known as
Term Source: LDD Acronym
Term Type: Other
Focus Area: #LDD, #MISMOApprovedAcronym
American Land Title Association
Term Source: LDD Acronym
Term Type: Actor
Focus Area: #LDD, #MISMOApprovedAcronym
A national association of title insurance companies, abstractors and attorneys specializing in real property laws. The association speaks for the title insurance and abstracting industry and establishes standard procedures and title policy forms.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary, #MISMOApprovedAcronym
A term defined in section 106 of the federal Truth in Lending Act (15 USC 1606), which expresses on an annualized basis the charges imposed on the borrower to obtain a loan (defined in the Act as "finance charges"), including interest, discount and other costs.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary, #MISMOApprovedAcronym
Army Post Office
Term Source: LDD Acronym
Term Type: Actor
Focus Area: #LDD, #MISMOApprovedAcronym
Average Prime Offer Rate
Term Source: LDD Acronym
Term Type: Data
Focus Area: #LDD, #MISMOApprovedAcronym
Annual Percentage Rate
Term Source: LDD Acronym
Term Type: Data
Focus Area: #LDD, #MISMOApprovedAcronym
Adjustable Rate Mortgage
Term Source: LDD Acronym
Term Type: Data
Focus Area: #LDD, #MISMOApprovedAcronym
Ability To Repay
Term Source: LDD Acronym
Term Type: Process
Focus Area: #LDD, #MISMOApprovedAcronym
Electronic drafting system that debits an authorized bank account and electronically transfers funds scheduled for remittance.
Term Source: MBA Glossary
Term Type: Process
Focus Area: #MBAGlossary, #MISMOApprovedAcronym
Automated Valuation Model
Term Source: LDD Acronym
Term Type: Process
Focus Area: #LDD, #MISMOApprovedAcronym
Architecture Work Group. The AWG manages MISMO engineering disciplines providing overall technical direction and support for all MISMO Products. AWG is responsible to ensure that MISMO Products follow all published MEGs and other established product development guidelines.
Term Source: MISMO Governing Documents
Term Type: Actor
Focus Area: #MISMOApprovedAcronym
The Business Executive Team (BET) is responsible for reviewing proposed change / project requests received from Work Sponsors and to prioritize the work efforts of the organization to maintain and update the MISMO Products.
Term Source: MISMO Governing Documents
Term Type: Actor
Focus Area: #MISMOApprovedAcronym
The Budget and Finance Committee (BFC) primary responsibility is to manage, review and recommend to the Board the annual budget.
Term Source: MISMO Governing Documents
Term Type: Actor
Focus Area: #MISMOApprovedAcronym
Bid Wanted In Competition
Term Source: LDD Acronym
Term Type: Data
Focus Area: #LDD, #MISMOApprovedAcronym
Credit Alert Interactive Voice Response System
Term Source: LDD Acronym
Term Type: Actor, Process
Focus Area: #LDD, #MISMOApprovedAcronym
Coastal Barrier Reform Act
Term Source: LDD Acronym
Term Type: Other
Focus Area: #LDD, #MISMOApprovedAcronym
Consolidation, Extension and Modification Agreement
Term Source: LDD Acronym
Term Type: Process
Focus Area: #LDD, #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].