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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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#LoanDelivery
Collected Other Fund Amount

The dollar amount of the collected other funds.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Collected Other Fund Purpose Type

Identifies the type of other funds not included in down payment or closing costs.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Collected Other Fund Purpose Type Other Description

Used to collect additional information when Other is selected for Collected Other Fund Purpose Type.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Combined LTV Ratio Percent

The result of dividing the combined unpaid principal balance (UPB) amounts of the first and all subordinate mortgages, excluding undrawn home equity lines of credit amounts, by the value of the subject property.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Condominium Project Status Type

Specifies the current state of the condominium project.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Construction Loan Indicator

When true, indicates that the loan is a construction loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD

Construction Loan Type

Specifies the specific type of construction loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD

Construction Method Type

A value from a MISMO prescribed list that represents the manner in which the structure was constructed.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD

Construction To Permanent Closing Feature Type

Specifies the type of feature associated with closing for the Construction To Permanent loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Construction To Permanent Closing Type

A value from a MISMO prescribed list that specifies the type of closing process for the construction-to-permanent loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD

Construction To Permanent First Payment Due Date

The due date of the first payment of the permanent mortgage phase of a construction to permanent loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Conversion Type

Specifies the type of conversion permissible for a loan as stated on the mortgage documents.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Convertible Indicator

Indicates that the loan has a convertible characteristic.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Convertible Status Type

Indicates whether the mortgagor has exercised the option to convert the ARM loan to a fixed rate loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Counseling Format Type

A value from a MISMO prescribed list that specifies the format in which the counseling/education service is delivered.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD

Counseling Format Type Other Description

A free-form text field that specifies the enumeration when the value of Other is used for the Counseling Format Type.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Counseling Provider Type

A value from a MISMO prescribed list that categorizes the provider of the counseling services.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Counseling Provider Type Other Description

A free-form text field that specifies the enumeration when the value of Other is used for Counseling Provider Type.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Counseling Setting Type

A value from a MISMO prescribed list that specifies the setting in which the counseling/education is delivered.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Counseling Setting Type Other Description

A free-form text field that specifies the enumeration when the value of Other is used for the Counseling Setting Type.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

 

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