Business Glossary-Term List

2004 End-User License � Applies to all MISMO Products (standards and collateral) issued prior to January 1, 2018. This license is automatically granted when an organization downloads any MISMO Product (MISMO standards or collateral) with an issue date through December 31, 2017.

Term Source: MISMO Governing Documents

Term Type: Document

Focus Area: #MISMOGOV

2018 Distributor License � Applies to all MISMO Products issued on or after January 1, 2018. The Distributor License is appropriate for organizations that develop technology that incorporates MISMO Products and makes that technology available to customers or external partners

Term Source: MISMO Governing Documents

Term Type: Document

Focus Area: #MISMOGOV

2018 End-User License � Applies to all MISMO Products issued on or after January 1, 2018. The 2018 End-User License is appropriate for organizations that download MISMO Products or develop technology that incorporates MISMO Products released after December 31, 2017, where the MISMO Products are used for internal company use when the organization does not make the MISMO products available to customers or external partners.

Term Source: MISMO Governing Documents

Term Type: Document

Focus Area: #MISMOGOV

Appointed by the Member, the employee who may act for the Voting Representative if that individual is unable to do so.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

Sets forth MISMO�s policy on complying with Antitrust laws and avoiding the appearance or execution of collective action by Members or Non-Members. The MISMO Antitrust Policy may be found on the footer of mismo.org.

Term Source: MISMO Governing Documents

Term Type: Document

Focus Area: #MISMOGOV

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 Committees (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

If appointed by the Member, the employee or office to which MISMO will send invoices.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

A set of high level, generic business process flows depicting common activities that may occur over the 'Life of a Loan'. Links are provided within the process flows and related process narratives to MISMO Products. Enables business professionals to access MISMO Products within the context of the business process or processes they support.

Term Source: MISMO Governing Documents

Term Type: Document

Focus Area: #MISMOGOV

A formal process to announce the intent to pursue development of a MISMO Product and solicit participation by interested parties.

Term Source: MISMO Governing Documents

Term Type: Event

Focus Area: #MISMOGOV

Development Process Document Only: 1. Failure to adhere to, or rejection of, the IPR or Antitrust Policies; 2. Repeated blatant disregard of MISMO-approved processes after receiving a written request from MISMO to cease and desist prohibited activities; and 3. Making endorsement claims prohibited of a MISMO Member (or that would be prohibited of a person or entity if they were a Member) under MISMO�s Bylaws or MISMO-approved processes. Policies and Procedures Only: 1. Failure to adhere to or rejection of the IPR or Antitrust Policies. 2. Repeated blatant disregard of these Policies and Procedures after receiving a written request from MISMO to cease and desist prohibited activities; and 3. Making endorsement claims prohibited of a MISMO Member (or that would be prohibited of a person or entity if they were a Member) under MISMO�s Bylaws or these Policies and Procedures.

Term Source: MISMO Governing Documents

Term Type: Event

Focus Area: #MISMOGOV

Development Process Document Only: A brief statement describing a WG�s purpose and scope Policies and Procedures Only: See Work Group Charter

Term Source: MISMO Governing Documents

Term Type: Document

Focus Area: #MISMOGOV

Council of Chairs. The CoC serves as a forum for all MISMO WGs to communicate and exchange information on topics of general and shared interest across all WGs.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOApprovedAcronym

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

Community of Practice. A COP represents the business or technology interests of an industry segment and is made up of subject matter experts for that particular segment of the industry.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

A written or oral submission from a MISMO Member or Non-Member to a WG to assist with DWG in drafting a MISMO Standard or MISMO Collateral.

Term Source: MISMO Governing Documents

Term Type: Process

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

Community of Practice. A COP represents the business or technology interests of an industry segment and is made up of subject matter experts for that particular segment of the industry.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOApprovedAcronym

The Residential Standards Governance Committee and the Commercial Standards Governance Committee work in concert with the MISMO Officers and the MISMO Manager and other MISMO committees and report to the MISMO Board of Directors.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOApprovedAcronym