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").
Return to full Term List
Download Business Glossary
(MISMO Members)
Refine Results
Search on:A digital platform that leverages artificial intelligence to advise users with very minimal human intervention.
Term Source: Artificial Intelligence Glossary
Term Type: Actor
Focus Area: #ArtificialIntelligence
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 MISMOs 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
A government agency within the U.S. Department of Agriculture which offers various financing programs available to aid in the development of rural America. These rural housing programs are divided into three categories; Community Facilities (CF), Single Family Housing (SFH), and Multi-Family Housing (MFH). These programs were formerly operated by the Rural Development Administration and the Farmers Home Administration.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
Trade association located in Washington, D.C. serving the savings institution business and the public interest by furthering thrift and homeownership.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
A mutual or stock association chartered and regulated by the Office of Thrift Supervision. Traditionally, deposits are invested in residential mortgage loans, although savings and loans now have broader lending powers.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
Successor insurance fund to FSLIC, this fund insures the deposit accounts of federally insured savings associations. The SAIF, which is separate from the Bank Insurance Fund (BIF), is administered by the FDIC.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
Servicemembers Civil Relief Act
Term Source: LDD Acronym
Term Type: Actor
Focus Area: #LDD, #MISMOApprovedAcronym
The market where lenders and investors buy and sell existing mortgages or mortgage-backed securities, thereby providing greater availability of funds for additional mortgage lending.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
Secure Identity Services Accreditation Corporation, a non-profit subsidiary of the Mortgage Bankers Association (MBA) that develops and maintains industry standards for secure identity credentials to be used within e-mortgage related transactions and accredits issuers of secure identity credentials against these same standards.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
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 MERSeRegistry 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
AUTHORIZED USAGE: All usage of this product is dictated by the terms and conditions within the MISMO 2018 Intellectual Property Rights (IPR) Policy. For more information, please see complete Authorized Usage / Patent Disclosure Request or contact [email protected].