Business Glossary-Term List

Any employee of a Member organization. May also be a consultant to a Member if designated by the Member in writing to MISMO. See also Voting Representative.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

A dedicated MISMO resource assigned to help accelerate the velocity of the development process for work products that MISMO undertakes.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

The entity engaged to oversee the day-to-day operational management of the MISMO organization.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

Any organization that has submitted the MISMO membership application and the appropriate membership fees and has been accepted as a Member to MISMO.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

Refers to a MISMO Officer as identified in the MISMO Bylaws and P&Ps Sec. 1.2.2�.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

A dedicated MISMO staff resource to ensure all work products are developed in a timely and consistent manner. The Program Manager will track status and progress of all work products.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

Any individual who provides advice and counsel to the Prioritization Committee and Board of Directors related to new product ideas and prioritization in the entire mortgage industry ecosystem.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

The Nominating Committees (NC)�s primary responsibility is to identify and develop future board members and leaders.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOApprovedAcronym

A Work Group who collaborates with MISMO Community, the Mortgage Industry, Emerging Tech Community of Practice and MISMO Product Manager in surfacing, vetting and prioritizing new product ideas.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

Any individual who engages in one or more MISMO Development Work Group (DWG) or other activities that is not a MISMO Member or an employee of an organization that has a MISMO membership in good standing. Such activities include, but are not limited to making a Contribution, attending meetings, or participating by telephone, Internet, or e-mail. All Non- Members are �Participants� under the terms of the IPR Policy.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

The Prioritization Committee (PC) is responsible for providing guidance on organizational priorities and key initiatives. This includes overseeing the Business Executive Team; Senior Advisors; and the New Product Incubator. It further includes recommending to the MISMO Board of Directors which products should be MISMO Standards and which should be MISMO Collateral.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOApprovedAcronym

Organizations are defined as �Related Entities� if: 1. One directly or indirectly controls or is controlled by the other, or 2. One is under direct or indirect common control with the other.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

A organization who agreed to grant, or who has been deemed to have agreed to grant, the Royalty-Free Patent License (as defined in the IPR Policy) with respect to this MISMO Product pursuant to MISMO�s IPR Policy, a copy of which is available for reference at www.mismo.org.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

The Residential Standards Governance Committee and the Commercial Standards Governance Committee work in concert with the MISMO Officers and the MISMO Manager and other MISMO committees and report to the MISMO Board of Directors.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOApprovedAcronym

The employee of a Member who receives all MISMO communications and votes on behalf of the Member on all MISMO matters.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

Work Groups (WGs) and Communities of Practice (COP) conduct MISMO�s product development work. Composition, operations, functions, and activities of the WG/COPs are defined in the MISMO Development Process Document (DPD)5: Separate DPDs exist for Residential and Commercial product development. Work Group and Community of Practice participants need not be affiliated with MISMO Members.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOApprovedAcronym

Development Process Document Only: As used in this document, �Work Group� refers to all of the volunteer industry working groups that develop MISMO Products including AWG, IM, DWG, COP. NOTE: Contrary to its use throughout the P&Ps, the term Work Group, when used to refer to the Work Group License, encompasses all MISMO groups: the Board, GCs, WGs, and any other subgroups or committees Policies and Procedures Only: As used in the Policies and Procedures, �Work Group� refers to the contributor industry and development work groups that develop MISMO Work Products.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV