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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Search on: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
National Association of Insurance Commissioners
Term Source: LDD Acronym
Term Type: Actor
Focus Area: #LDD, #MISMOApprovedAcronym
An individual, business or organization that is specified in the declarations by name as the insured(s) under a policy.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
A national trade association located in Washington, D.C. that provides support to the building industry through lobbying and educational services.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
An organization whose membership consists of state insurance regulators. NAIC's objectives are to promote uniformity in regulation by drafting model laws and regulations for adoption by the states and to provide support services to insurance departments such as examinations and statistical information.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary, #MISMOApprovedAcronym
Professional society for mortgage brokers which was developed to foster professional business relationships.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
Trade association representing real estate sales professionals. Realtors is a registered trademark of the National Association, and is properly used only to describe members of the Association, not all real estate brokers or agents.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
National Credit Union Administration (NCUA)
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
The National Housing Resource Center is dedicated to organizing nonprofit housing counseling agencies into a unified voice to advocate for the housing counseling industry and on behalf of housing consumers.
Term Source: MISMO (Non-LDD)
Term Type: Actor
Focus Area: #Origination
A field of artificial intelligence that focuses on the interaction between computers and humans through natural language. NLP is used for processing and analyzing large volumes of unstructured text data from documents and customer communications.
Term Source: Artificial Intelligence Glossary
Term Type: Actor
Focus Area: #ArtificialIntelligence
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 group of retail businesses, providing a limited variety of convenience services for a limited area, and having common parking and ownership or management. The smallest type of shopping center, neighborhood centers usually range in size from 25,000 to 100,000 square feet.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
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
National Flood Insurance Program
Term Source: LDD Acronym
Term Type: Actor
Focus Area: #LDD, #MISMOApprovedAcronym
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
An individual who signs records during a remote online notarization but is not the Principal to the transaction. See also Principal Signer.
Term Source: MISMO (Non-LDD)
Term Type: Actor
Focus Area: #eMortgage
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