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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Privately owned companies, licensed and regulated by the Small Business Administration. The SBA provides equity capital and long-term financing.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
A real estate trade organization that serves industrial and office property owners, users and investors.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
A professional and educational association for the appraisal profession. SREA confers the following designations: Senior Residential Appraiser (SRA), Senior Real Property Appraiser (SRPA) and Senior Real Estate Analyst (SREA).
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
A governmental subdivision with the power to tax and improve property within its jurisdiction. Also called "special improvement district."
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
An appraiser who works as an employee for a mortgage company as opposed to the company hiring an independent firm to appraise properties.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
Standard Generalized Markup Language � created in 1978 as a markup language used in technical documentation � it�s the precursor to XML.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
One who purchases property for another to conceal the identity of the real purchaser.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
A person or company contracted to perform work for a developer or general contractor.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
One of three major players involved in SISAC, subscribers hold and use the credentials for electronic signatures.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
Lender that performs the on-going servicing activities for the mortgage or pool under an agreement with the contractually responsible servicer.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
Means the person or persons responsible for operating one or more of the systems being utilized with respect to a particular real estate mortgage loan transaction
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
One who is not the owner but occupies real property under consent of the owner and in subordination to the owner�s title. The tenant is entitled to exclusive possession, use and enjoyment of the property, usually for a time and amount specified in the lease.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
One not a party to an agreement or a transaction, but who may have rights therein.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
Entity or individual that completely or partially takes the mortgage loan application from a borrower. A TPO may process, underwrite or fund the mortgage before transferring, assigning or selling it to another mortgage lender.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
Savings banks or savings and loan associations.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
A person other than the note holder or servicer who is in the business of providing services intended to enhance (i) the trustworthiness of the process for signing electronic records using an electronic signature, or (ii) the integrity and reliability of the signed electronic records.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
One who holds legal title to property for the benefit of another, or to secure performance of an obligation.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
An agent of the court authorized to liquidate and protect the assets of the bankrupt, and bring them to court for final distribution for the benefit of the bankrupt and creditors.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
A federal program administered by HUD under which distressed cities and urban counties may obtain funding for community development projects.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
An independent, nonprofit research and educational organization that conducts research, educational and publishing activities in the areas of land use and development.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
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