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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Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
The postal code (ZIP Code in the US) for the address. ZIP Code may be either 5 or 9 digits.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
Indicates whether the loan includes a penalty charged to the borrower in the event of prepayment.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
Specifies the reason that primary mortgage insurance is not required or provided.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
A free-form text field used to collect additional information when Other is selected for Primary MI Absence Reason Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
The principal and interest amount that is part of the total payment being reported.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
Specifies the type of physical attachment, if any, between the dwelling units in the project.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
Identifies the type of project or condominium classification for the subject property and its associated review.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
This field specifies the type of design for the multiple unit buildings in a project.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery, #MISMO3.4_iLAD
A free-form text field used to describe the design if Other is selected as the Project Design Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
Total number of individual dwelling units in the project.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
The total number of units in a project that have been sold.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
A value from a MISMO prescribed list that specifies the form of ownership of a project. The Project Legal Structure Type defines the quality and quantity of project ownership and rights accruing to the individual unit owner.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
An unstructured name that identifies the project in which property is located (e.g., the name of the condominium or cooperative).
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery, #MISMO3.4_iLAD
A value from a MISMO prescribed list that specifies the ownership interest in the property.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
A free-form text field used to collect additional information when Other is selected for Property Estate Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
An indicator denoting whether the property securing the mortgage has flood insurance.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery
The calendar year in which the construction of the structure was completed.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanDelivery, #MISMO3.4_iLAD
A value from a MISMO prescribed list that specifies the intended usage of the property by the borrower.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
Statement of value of the property from a valid property valuation source.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
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