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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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MISMO Logical Data Dictionary (LDD) Data #LDD #LoanDelivery
MI Premium Financed Amount

The amount of the up-front premium that is financed.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

MI Premium Financed Indicator

Indicates whether mortgage insurance premium has been added to loan amount.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

MI Premium Source Type

Defines the source of the MI premium payment.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Middle Name

The middle name of the individual represented by the parent object.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Mortgage Modification Indicator

Indicates that a loan modification exists.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Mortgage Type

A value from a MISMO prescribed list that specifies the private or public sector entity under whose guidelines the mortgage is originated.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Mortgage Type Other Description

A free-form text field used to collect additional information or a description of the mortgage type when Other is selected.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Next Rate Adjustment Effective Date

The date on which the next interest rate adjustment goes into effect.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Note Amount

The amount to be repaid as disclosed on the note.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Note Date

The date on the note.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Note Rate Percent

The actual interest rate as disclosed on the note.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Party Role Identifier

The unique identifier assigned to the party role.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Party Role Type

A value from a MISMO defined list that identifies the role that the party plays in the transaction. Parties may be either a person or legal entity. A party may play multiple roles in a transaction.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Party Role Type Other Description

A free-form text field used to collect additional information when Other is selected for Party Role Type.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Payment Billing Statement Lead Days Count

The number of days between the billing statement date and the payment due date.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Payment Frequency Type

A value from a MISMO prescribed list that specifies how often the obligor must make the financing payments.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Per Change Maximum Decrease Rate Percent

The maximum number of percentage points by which the rate can decrease from the previous interest rate.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

Per Change Maximum Increase Rate Percent

The maximum number of percentage points by which the rate can increase from the previous interest rate.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Per Change Principal And Interest Payment Adjustment Percent

The percent by which the principal and interest payment adjusts.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Per Change Rate Adjustment Effective Date

The date when the interest rate per change adjustment rule first becomes applicable. The per change rule remains in effect unless another per change rule with a later date is present on the loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanDelivery

 

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].