Home / Standards & Resources / Business Glossary / Business Glossary-Term List

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"). 

Return to full Term List                                                                                           Download Business Glossary
                                                                                                                                                   (MISMO Members)

Refine Results
Search on:





Filter By Focus Area
Filter By Source
Data #LDD #ClosingDisclosure
Prepayment Penalty Expiration Months Count

The number of months from the loan closing that a prepayment penalty may be imposed.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Prepayment Penalty Indicator

Indicates whether the loan includes a penalty charged to the borrower in the event of prepayment.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Prepayment Penalty Maximum Life Of Loan Amount

Maximum dollar amount that can be charged as a prepayment penalty over the life of the loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Principal And Interest Payment Maximum Amount

The stated maximum principal and interest payment amount allowed over the life of the loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Principal And Interest Payment Maximum Amount Earliest Effective Months Count

The minimum number of months before the maximum payment amount to which the principal and interest payment can increase over the life of the loan could be reached.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Projected Payment Calculation Period End Number

The end number of the projected payment period. Used in conjunction with Projected Payment Calculation Period Term Type.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Projected Payment Calculation Period Start Number

The start number of the projected payment period. Used in conjunction with Projected Payment Calculation Period Term Type.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Projected Payment Calculation Period Term Type

The duration of time used to define the projected payment period.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Projected Payment Calculation Period Term Type Other Description

A free-form text field used to capture additional information when Other is selected for Projected Payment Calculation Period Term Type.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Projected Payment Escrowed Type

Specifies if the projected payment item is to be paid from an escrow account.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Projected Payment Estimated Escrow Payment Amount

The estimated amount of the payment that is applied toward escrows during the projected payment period.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Projected Payment Estimated Taxes Insurance Assessment Component Type

Specifies the type of payment component included in the calculation of the Projected Payment Estimated Taxes Insurance And Assessment Total Amount.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Projected Payment Estimated Taxes Insurance Assessment Component Type Other Description

A free-form text field used to capture additional information when Other is selected for Projected Payment Estimated Taxes Insurance Assessment Component Type.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Projected Payment Estimated Taxes Insurance Assessment Total Amount

The estimated total of property tax, property insurance, and property assessment payment amounts during the projected payment period.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Projected Payment Estimated Total Maximum Payment Amount

The estimated maximum amount of the total payment during the projected payment period.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Projected Payment Estimated Total Minimum Payment Amount

The estimated minimum amount of the total payment during the projected payment period.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Projected Payment MI Payment Amount

The amount of the payment that is applied toward mortgage insurance during the projected payment period.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Projected Payment Principal And Interest Maximum Payment Amount

The maximum amount of the principal and interest payment during the projected payment period.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Projected Payment Principal And Interest Minimum Payment Amount

The minimum amount of the principal and interest payment during the projected payment period.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Property Estimated Value Amount

A statement of the estimated present market value of the property that is from the borrower or loan originator.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

 

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].