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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
Fee Actual Total Amount

The actual total dollar amount paid for the fee by all parties.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Fee Paid To Type

Identifies the category or type of payee to which the fee or payment will be paid.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Fee Paid To Type Other Description

A free-form text field to capture the description when Other is selected as Fee Paid To Type.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Fee Payment Paid By Type

A value from a MISMO prescribed list that represents the role of the party paying a fee or cost.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Fee Payment Paid Outside Of Closing Indicator

When true, indicates payment of fee was paid outside of closing.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Fee Percent Basis Type

Defines the amount upon which the Fee Total Percent is calculated.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Fee Summary Total Amount Financed Amount

The amount of the Total Amount Financed as disclosed based on the accepted industry standard defined by Regulation Z.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Fee Summary Total Finance Charge Amount

The amount of the Total Finance Charges as disclosed based on the accepted industry standard defined by Regulation Z.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Fee Summary Total Interest Percent

The total amount of interest paid by the borrower over the term of the loan as a percentage of the loan amount.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Fee Summary Total Of All Payments Amount

The amount of the Total of All Payments as disclosed based on the accepted industry standard defined by Regulation Z.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Fee Total Percent

The total percent paid by all parties for the specified Fee or Specified HUD Line Number. This is used in conjunction with the Fee Percent Basis Type to determine a dollar amount of the fee. May be used in conjunction with Specified Fixed Amount to determine the dollar amount of the fee. To be used when the fee is defined by a percent.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Fee Type

A value from a MISMO prescribed list that represents a fee or cost associated with a real estate transaction or the ongoing servicing of a loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Fee Type Other Description

A free-form text field used to collect additional information when Other is selected for Fee Type.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

First Name

The first 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

First Principal And Interest Payment Change Months Count

The number of months after origination in which the first payment adjustment occurs.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

First Rate Change Months Count

The number of months after origination in which the first interest rate adjustment occurs, if the interest rate on the subject loan can change.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

First Year Total Escrow Payment Amount

Estimated total amount of one year of escrowed property costs.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

First Year Total Escrow Payment Description

A free-form text field used to describe the estimated total amount of one year of escrowed property costs.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

First Year Total Non Escrow Payment Amount

Estimated total amount of one year of non-escrowed property costs.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

First Year Total Non Escrow Payment Description

A free form text field used to describe the estimated total amount of one year of escrowed property costs.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

 

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