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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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Data #LDD #ClosingDisclosure
Integrated Disclosure Subsection Payment Amount

The dollar amount of the individual payment being made associated with the Integrated Disclosure Subsection Type.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Integrated Disclosure Subsection Payment Timing Type

Defines the point in time during the origination process when the integrated disclosure subsection payment was paid.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Integrated Disclosure Subsection Type

A value from a MISMO prescribed list that represents the title or description of a subsection of an integrated disclosure document.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Interest Only Indicator

When true, indicates that the loan terms allow interest-only payments to be made for a specified time period.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Interest Only Term Months Count

Then number of months the loan remains interest only.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Interest Rate Increase Indicator

When true, indicates that the interest rate on the loan can increase after the closing.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Last Name

The last 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

Late Charge Amount

The dollar amount that a borrower is required to pay for failure to make a regular installment within the period specified on the note. This is used when late charge is defined as a flat dollar amount.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Late Charge Grace Period Days Count

The grace period in days for this loan before a late charge will be applied.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Late Charge Rate Percent

The percentage that a borrower is required to pay for failure to make a regular installment within the period specified on the note. This is the amount specified by the late charge code and is used when the late charge is not a flat dollar.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Late Charge Type

A value from a MISMO prescribed list that represents the payment basis used in calculating the late charge amount.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Lender Credit Tolerance Cure Amount

The amount necessary to bring the final actual costs in line with the amount initially disclosed to the borrower.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Liability Description

A text description that further defines the Liability. This could be used to describe the job related expenses.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Liability Secured By Subject Property Indicator

When true, indicates the specified liability is secured by the subject property.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Liability Type

A value from a MISMO prescribed list that represents a financial obligation of an individual or entity. In a mortgage transaction, these are typically related to one or more borrowers.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Liability Type Other Description

Specifies the other liability type when Other is selected.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

License Authority Level Type

Level of authority of the license issuer.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

License Identifier

The identifier of the license or certificate issued to the party. The attribute IdentifierOwnerURI identifies the issuer of the license or certificate.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

License Issue Date

The date on which the license was issued.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

License Issuing Authority Name

The name of the issuing authority through which the party obtained the license.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

 

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