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 U.S. Department of Housing and Urban Development is a federal agency established in 1965 to address housing needs, improve communities, and enforce fair housing laws, ensuring equal access to housing and community-based employment opportunities.
Term Source: MISMO (Non-LDD)
Term Type: Actor
Focus Area: #MBAGlossary, #MISMOApprovedAcronym
Entities such as non-profits and state housing finance agencies who provide critical services such as training, pass-through funding, and technical assistance.
Term Source: MISMO (Non-LDD)
Term Type: Actor
Focus Area: #Origination
The National Housing Resource Center is dedicated to organizing nonprofit housing counseling agencies into a unified voice to advocate for the housing counseling industry and on behalf of housing consumers.
Term Source: MISMO (Non-LDD)
Term Type: Actor
Focus Area: #Origination
An individual who signs records during a remote online notarization but is not the Principal to the transaction. See also Principal Signer.
Term Source: MISMO (Non-LDD)
Term Type: Actor
Focus Area: #eMortgage
The details of the Notarial Act common to the State's notarial journal or register requirements.
Term Source: MISMO (Non-LDD)
Term Type: Actor
Focus Area: #eMortgage
The HUD Office of Housing Counseling (OHC) is part of the Office of Housing/Federal Housing Administration (FHA). The OHC provides support to a nationwide network of Housing Counseling Agencies (HCA) and counselors. HCA's are trained and approved to provide tools to current and prospective homeowners and renters so that they can make responsible choices to address their housing needs in light of their financial situations.
Term Source: MISMO (Non-LDD)
Term Type: Actor
Focus Area: #Origination
An individual whose electronic signature is notarized in a remote online notarization; or making an oath or affirmation or an acknowledgement other than in the capacity of a witness for the remote online notarization.
Term Source: MISMO (Non-LDD)
Term Type: Actor
Focus Area: #eMortgage
The entity that owns or operates the Remote Online Notarization System, or is contracted with or through to provide access to the Remote Online Notarization System. AKA RON Provider.
Term Source: MISMO (Non-LDD)
Term Type: Actor
Focus Area: #eMortgage
A mortgage servicer that obtains the rights to service a loan under either a subservicing agreement or an agreement for the sale of mortgage servicing rights (MSR), also referred to as servicing contract rights. The transferee receives the servicing during a servicing transfer.
Term Source: MISMO (Non-LDD)
Term Type: Actor
Focus Area: #MISMOLifeOfLoan, #Servicing
A mortgage servicer that transfers the rights to service a loan to another servicer via either a subservicing agreement or an agreement for the sale of mortgage servicing rights (MSR), also referred to as servicing contract rights. The transferor releases the servicing during a servicing transfer.
Term Source: MISMO (Non-LDD)
Term Type: Actor
Focus Area: #MISMOLifeOfLoan, #Servicing
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