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:Statement of value of the property from a valid property valuation source.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
A value from a MISMO prescribed list that specifies the method by which the property value was assessed.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
A free-form text field used to capture a description of the Property Valuation Method Type when Other is selected.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
The dollar amount of the Proration Item Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The start date for calculating the total number of days covered by the proration item.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The end date for calculating the total number of days covered by the proration item, inclusive of this date.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
A value from a MISMO prescribed list that represents a cost already paid by one party that must be prorated at the time of loan closing and allocated between a property seller, homebuyer, or other parties to a real estate transaction.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
A free-form text field used to collect additional information when Other is selected for Proration Item Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
A value from a MISMO prescribed list that specifies the specific standard used to satisfy Regulation Z Qualified Mortgage standards.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #MISMO3.4_iLAD
A free-form text field that specifies the enumeration when the value of Other is used for Qualified Mortgage Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #MISMO3.4_iLAD
Describes the type of real estate agent.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The dollar amount of real property included in the Sales Contract Amount.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
When true, indicates that the subject loan is refinanced with the current holder, current servicer or an affiliate of either.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #MISMO3.4_iLAD
When true, indicates that excluded bona fide discount points were charged for this loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The bona fide discount points, expressed as a percent, that are excluded from points and fees calculated in accordance with Regulation Z, Truth in Lending.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
When true, indicates that item is included in the Regulation Z Points and Fees calculation.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The total amount of fees, expressed in dollars, paid to an affiliate(s) of the creditor.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The total loan amount, expressed in dollars, calculated in accordance with Regulation Z, Truth in Lending. This amount is used in calculations for both Qualified Mortgage and HOEPA.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The total amount of points and fees, expressed in dollars, calculated in accordance with Regulation Z, Truth in Lending. This amount is used in calculations for both Qualified Mortgage and HOEPA purposes.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The amount of money the contract is for.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #MISMO3.4_iLAD
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