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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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#LDD
Adequate Indicator

Indicates that this feature is adequate for normal needs.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Adjusted Sales Price Amount

The sales price of a comparable property after it has been adjusted to reflect the differences between the comparable property and the subject property.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Adjusted Sales Price Per Bedroom Amount

The dollar amount of a bedroom determined by dividing the adjusted sales price by the total bedrooms in all living units (including any accessory dwelling units).

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Adjusted Sales Price Per Room Amount

The dollar value of a room determined by dividing the adjusted sales price by the number of rooms in a property.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Adjusted Sales Price Per Unit Amount

The dollar amount of a living unit determined by dividing the adjusted sales price by the number of living units (including any accessory dwelling units).

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Adjustment Change Effective Due Date

The effective payment due date of the Interest Rate, principal and interest Payment or Service Fee Change.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Adjustment Change Index Rate Percent

The index value used to calculate the interest rate percent for this adjustment.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #MISMO3.4_iLAD

Adjustment Change Interest Rate Percent

The calculated or pre-determined interest rate percent that will be effective on the Adjustment Change Effective Due Date.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Adjustment Change Occurrence Extended Term Months Count

The total number of months after which the loan will mature following an extension. When the term of a loan can be extended rather than increasing the principal and interest payment, this is the new term of the loan including any extension.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Adjustment Change Occurrence Pass Through Rate Percent

The new rate, expressed as a percent, at which the Servicer passes through interest on the loan to the investor. It can be computed using either a top-down formula: Loan Interest Rate - Servicing Fee Rate - Excess Yield Rate -Lender Guaranty Fee Rate, or a bottom-up formula: Index Rate + Net (a.k.a. Required) Margin Rate + Investor Guaranty Fee Rate + Yield Excess/Deficit Rate, and then applying any caps that are in effect.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Adjustment Change Occurrence Type

Indicates the reason for the Interest Rate, principal and interest Payment or Service Fee change on an existing mortgage loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Adjustment Change Occurrence Type Other Description

A free-form text field used to capture the Adjustment Change Occurrence type if Other is selected.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Adjustment Change Principal And Interest Payment Amount

The dollar amount of the principal and interest payment associated with the Adjustment Change Effective Due Date.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Adjustment Change Projected Principal Balance Amount

The projected principal balance amortized to the date for which interest rate, principal and interest payment, or convertible calculations were performed.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Adjustment Change Service Fee Amount

The recalculated fixed dollar amount that is paid to the servicer by the investor for servicing the mortgage if a service fee percent is not expressed.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Adjustment Change Service Fee Rate Percent

The recalculated percentage of interest collected that is paid to the servicer by the investor for servicing the mortgage (gross).

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Adjustment Rule Type

Specifies whether the occurrence of the adjustment is the first change or a subsequent change.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD

ADU

Accessory Dwelling Unit

Term Source: LDD Acronym

Term Type: Data

Focus Area: #LDD, #MISMOApprovedAcronym

Advance Date

The date the advance was disbursed.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Advance Identifier

A unique alphanumeric string identifying a check number, wire number or other tracking identifier for the disbursement activity.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

 

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