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 Logical Data Model (LDM) will make it easier for organizations to communicate regardless of the technologies they choose to use for communicating with business partners. The LDM will support XML and JSON, which is the technology of choice for mobile transactions. The LDM was built using Unified Modeling Language (UML®) 2.5, a common standard created by the Object Management Group®. UML consists of an integrated set of diagrams that helps users specify, visualize, construct and document software or business systems. MISMO has also created a set of user guidelines to help industry participants adopt and implement the LDM in their business processes.
Term Source: MISMO Governing Documents
Term Type: Data
Focus Area: #MISMOGOV
The Reference Model in is an abstract framework or domain-specific ontology consisting of an interlinked set of clearly defined concepts produced by an expert or body of experts in order to encourage clear communication. A Reference Model can represent the component parts of any consistent idea, from business functions to system components, as long as it represents a complete set. This frame of reference can then be used to communicate ideas clearly among members of the same community.
Term Source: MISMO Governing Documents
Term Type: Data
Focus Area: #MISMOGOV
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