Business Glossary-Term List

Mortgage Electronic Registration Systems

Term Source: LDD Acronym

Term Type: Actor

Focus Area: #eMortgageGlossary, #LDD, #MISMOApprovedAcronym

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

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

An individual, firm or corporation that originates, sells and/or services loans secured by mortgages on real property.

Term Source: MBA Glossary

Term Type: Actor

Focus Area: #MBAGlossary

A firm or individual who, for a commission, matches borrowers and lenders. A mortgage broker takes applications and sometimes processes loans, but generally does not use its own funds for closing.

Term Source: MBA Glossary

Term Type: Actor

Focus Area: #MBAGlossary

Mortgage Industry Standards Maintenance Organization. Established by the Mortgage Bankers Association to coordinate the development and maintenance of e-commerce specifications for the exchange of real estate finance transactions.

Term Source: MBA Glossary

Term Type: Actor

Focus Area: #MBAGlossary, #MISMOApprovedAcronym

Certificate issued by HUD/FHA as evidence that a mortgage has been insured, and that a contract of mortgage insurance exists between HUD/FHA and the lender incorporating the HUD/FHA regulations identified in the certificate.

Term Source: MBA Glossary

Term Type: Actor

Focus Area: #MBAGlossary

A national trade association for mortgage insurers located in Washington, D.C.

Term Source: MBA Glossary

Term Type: Actor

Focus Area: #MBAGlossary

The lender in a mortgage transaction.

Term Source: MBA Glossary

Term Type: Actor

Focus Area: #MBAGlossary

A mortgagee who, due to default under the terms of a mortgage, has obtained possession but not ownership of the property.

Term Source: MBA Glossary

Term Type: Actor

Focus Area: #MBAGlossary

The borrower in a mortgage transaction who pledges property as a security for a debt.

Term Source: MBA Glossary

Term Type: Actor

Focus Area: #MBAGlossary

A service provided by the Board of Realtors, which renders access to real estate listings of properties for sale or lease.

Term Source: MBA Glossary

Term Type: Actor

Focus Area: #MBAGlossary, #MISMOApprovedAcronym

The actuarially sound FHA insurance fund for the 203(b) unsubsidized single-family mortgage program. It is "mutual" because mortgagors whose mortgages are insured by the fund receive rebates of premiums in excess of the amounts needed to pay costs and losses.

Term Source: MBA Glossary

Term Type: Actor

Focus Area: #MBAGlossary

An institution owned by its depositors as evidenced by certificates of deposit rather than stock.

Term Source: MBA Glossary

Term Type: Actor

Focus Area: #MBAGlossary

National Automobile Dealers Association

Term Source: LDD Acronym

Term Type: Actor

Focus Area: #LDD, #MISMOApprovedAcronym