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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 #ClosingDisclosure
Closing Agent Order Number Identifier

The identifying file number assigned to the transaction by the Closing Agent also known as a Settlement Agent.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Closing Cost Fund Amount

The dollar amount of funds supplied by a specified source at closing.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Closing Date

The date the closing documents were fully executed and the borrower becomes contractually responsible for the debt. Depending on the location (wet-sign, dry-sign, table-funded and/or escrow state) of the loan closing, the Closing Date may be the same date as either the Document Preparation Date and/or the Execution Date and/or the Recorded Date.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Construction Loan Indicator

When true, indicates that the loan is a construction loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Construction Loan Total Term Months Count

The total term of a construction loan, including the construction phase plus the fully amortizing phase.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Construction Loan Type

Specifies the specific type of construction loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Construction Period Number Of Months Count

The length of the construction period expressed in number of months.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Contact Point Email Value

The email address for the contact.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Contact Point Telephone Extension Value

The extension associated with the specified telephone number.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Contact Point Telephone Value

The telephone number for the contact.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Country Code

The two-character representation of the country.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Created Datetime

The date and time at which the message, deal or document was created.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Current Rate Set Date

Date on which the interest rate for the loan was set by the lender for the final time before closing.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Data Version Identifier

Specifies the data file version.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Deficiency Rights Preserved Indicator

When true, indicates that upon the foreclosure sale completion deficiency rights against the borrowers are preserved.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Demand Feature Indicator

When true, indicates that the loan has a demand feature.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Disbursement Date

The date the loan funds are disbursed to the borrower or another party on the borrower's behalf.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Disclosed Fully Indexed Rate Percent

The value of the fully indexed interest rate, expressed as a percent, which must be disclosed to the borrower for adjustable rate mortgages.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Document Form Issuing Entity Name Type

Identifies the organization that defined the document form/template.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD, #LoanApplication

Document Form Issuing Entity Version Identifier

The version identifier that the issuer assigned to the document form/template.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD, #LoanApplication

 

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