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 stated minimum percentage the interest rate can decrease to over the life of the loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanDelivery
The unparsed name of either an individual or a legal entity.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
The dollar amount of the principal and interest payment when calculated using the loan amount and fully-indexed interest rate (in place of Note Interest Rate) to arrive at full amortization during the loan term.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
A value from a MISMO defined list that specifies a monetary source commonly used to pay obligations in a mortgage loan transaction.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
Indicates whether hazard is paid by the borrower or the lender.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #MISMO3.4_iLAD
A value from a MISMO prescribed list that specifies the general category of mortgage index to be used to determine the interest rate at each adjustment.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
A free-form text field to collect additional information when Other is selected for Index Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The dollar amount of the principal and interest payment as stated on the Note. The principal and interest payment is usually obtained using the loan amount and interest rate to arrive at full amortization during the loan term.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
When true, indicates the estimated and final cash to close amounts for the specified Integrated Disclosure Cash To Close Item Type are unequal.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
A statement providing information related to the difference between the estimated and final cash to close amounts for the specified Integrated Disclosure Cash To Close Item Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The estimated cash to close amount for the specified integrated Disclosure Cash To Close Item Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The final cash to close amount for the specified Integrated Disclosure Cash To Close Item Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
Identifies whether the Cash To Close Item Amount is due to or from the borrower.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
Identifies the type of cash to close item as specified in the Calculating Cash to Close section of the integrated disclosure document.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
When true, indicates the loan is an extension of credit that does not involve the purchase of real property or the initial construction of a dwelling and will not be used to refinance an existing obligation.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The date the integrated disclosure was mailed or delivered to the consumer (borrower or seller) as reflected on a single instance of the integrated disclosure document. AKA "Date Issued".
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
A description of the loan product which includes, when applicable, certain loan features added to the loan product that may change the periodic loan payment.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The total amount of itemized charges and credits within a specified section of the integrated disclosure document.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
A value from a MISMO prescribed list that represents the title or description of a primary section of an integrated disclosure document.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The role of the party making the payment of the amount associated with the Integrated Disclosure Subsection Total Amount.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
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