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 Participant named on the MERS� eRegistry that has been sold, pledged, assigned, or granted a security interest in the eNote by the Controller. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.
Term Source: MISMO eMortgage
Term Type: Actor
Focus Area: #eMortgage
The Participant that is authorized by the Secured Party to perform certain MERS�eRegistry transactions on the Secured Party�s behalf. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.
Term Source: MISMO eMortgage
Term Type: Actor
Focus Area: #eMortgage
A governing body that regulates the sale and registration of securities. The SEC protects investors and the general public against fraud and malpractice in financial markets.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
A term used by Fannie Mae and Freddie Mac for a mortgage banker or other entity that has met the requirements necessary to sell and service mortgages for Fannie Mae or Freddie Mac.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
A person or entity which coordinates or conducts a closing or settlement.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
Single Family Default Monitoring System
Term Source: LDD Acronym
Term Type: Actor
Focus Area: #LDD, #MISMOApprovedAcronym
One who invests in a business but does not participate in the operation of the enterprise and may be anonymous, except to the other partners.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
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
The Participant named on the MERS� eRegistry that is authorized by the Master Servicer to perform certain MERS� eRegistry transactions on the Master Servicer's behalf. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.
Term Source: MISMO eMortgage
Term Type: Actor
Focus Area: #eMortgage
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
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