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:A trusted third-party organization or company that issues, manages, renews, and revokes Digital Certificates used to create Digital Signatures. The Certificate Authority registers the certificate holder�s name and address and allows others to see if the certificate is valid, revoked, or expired. The third-party certificate authority also has the ability to confirm the identity of the certificate holder. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.
Term Source: MISMO eMortgage Glossary
Term Type: Actor
Focus Area: #eMortgageGlossary
A person defined as a consumer under the federal E-SIGN Act. In the mortgage industry this party has historically been known as the borrower; however, E- SIGN legislation referring to the term "consumer" actually references "an individual who obtains, through a transaction, products or services which are used primarily for personal, family, or household purposes," which could include borrowers and sellers for the purpose of consent and disclosure.
Term Source: MISMO eMortgage Glossary
Term Type: Actor
Focus Area: #eMortgageGlossary
A Participant has control of a Transferable Record if a system employed for evidencing the transfer of interests in the Transferable Record reliably establishes that Participant as the Participant to which the Transferable Record was issued or transferred pursuant to Section 16 of UETA and Section 201 of E-SIGN. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org
Term Source: MISMO eMortgage Glossary
Term Type: Actor
Focus Area: #eMortgageGlossary
The Party (entity) named on the System of Record that has Control of the eNote. For example, the Controller can be thought of as the "holder," "holder in due course," and/or "purchaser" of an original paper note as defined under the Uniform Commercial Code. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.
Term Source: MISMO eMortgage Glossary
Term Type: Actor
Focus Area: #eMortgageGlossary
The Controller Delegatee for Transfer Model is used to allow one party to submit registration and transfers on behalf of another party on the MERS� eRegistry. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.
Term Source: MISMO eMortgage Glossary
Term Type: Actor
Focus Area: #eMortgageGlossary
A Member of the MERS� eRegistry that is authorized by the Controller to perform certain MERS� eRegistry transactions on the Controller's behalf. The DT can initiate registrations and transfers of Control, but may not initiate change status transactions, or change data transactions except to remove themselves as DT. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.
Term Source: MISMO eMortgage Glossary
Term Type: Actor
Focus Area: #eMortgageGlossary
The entity whose role it is to ensure the secure and accurate storage and archival of eDocuments; e.g., the person or entity charged with maintaining the Authoritative Copy of the Transferable Record.
Term Source: MISMO eMortgage Glossary
Term Type: Actor
Focus Area: #eMortgageGlossary, #MBAGlossary
See Certificate Authority. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.
Term Source: MISMO eMortgage Glossary
Term Type: Actor
Focus Area: #eMortgageGlossary
The participant named on the MERS� eRegistry that is authorized by the Controller to perform certain MERS� eRegistry transactions on the Controller's behalf. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.
Term Source: MISMO eMortgage Glossary
Term Type: Actor
Focus Area: #eMortgageGlossary, #MBAGlossary
Mortgage Industry Standards Maintenance Organization. MISMO develops essential standards to enable the real estate finance industry's digital future. Through MISMO, all mortgage stakeholders have an opportunity to collaborate, innovate, and prosper by creating standards to improve efficiency, reduce costs, and enhance the overall mortgage experience.
Term Source: MISMO Governing Documents, MISMO eMortgage Glossary
Term Type: Actor
Focus Area: #eMortgageGlossary, #MISMOApprovedAcronym
An entity approved by an Issuing Authority to assist Digital Certificate applicants in applying for certificates, and to approve or reject certificate applications, revoke certificates, or renew certificates. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.
Term Source: MISMO eMortgage Glossary
Term Type: Actor
Focus Area: #eMortgageGlossary
The Participant named on the MERS� eRegistry that has been sold, pledged, assigned, or granted a security interest in the eNote by the Controller. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.
Term Source: MISMO eMortgage Glossary
Term Type: Actor
Focus Area: #eMortgageGlossary
The Participant that is authorized by the Secured Party to perform certain MERS�eRegistry transactions on the Secured Party�s behalf. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.
Term Source: MISMO eMortgage Glossary
Term Type: Actor
Focus Area: #eMortgageGlossary
The Participant named on the MERS� eRegistry that is authorized by the Master Servicer to perform certain MERS� eRegistry transactions on the Master Servicer's behalf. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.
Term Source: MISMO eMortgage Glossary
Term Type: Actor
Focus Area: #eMortgageGlossary
The World Wide Web Consortium was created to lead the World Wide Web to its full potential by developing common protocols and standards that promote its evolution and ensure its interoperability. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.
Term Source: MISMO eMortgage Glossary
Term Type: Actor
Focus Area: #eMortgageGlossary
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