Business Glossary-Term List

A value from a MISMO prescribed list that specifies the type of address.

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 collect additional information when Other is selected for Address Type.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

A value from a MISMO prescribed list that specifies a further level of detail for a street address, for example, Suite or Unit. This list is based on the USPS Publication 28 on Postal Addressing Standards.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

The description of the Address Unit Designator Type when Other is selected as the option from the enumerated list.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The identifier value associated with the Secondary Address Unit Designator. Example: 123, C, B1C, etc.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Indicates that this feature is adequate for normal needs.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The sales price of a comparable property after it has been adjusted to reflect the differences between the comparable property and the subject property.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The dollar amount of a bedroom determined by dividing the adjusted sales price by the total bedrooms in all living units (including any accessory dwelling units).

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The dollar value of a room determined by dividing the adjusted sales price by the number of rooms in a property.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The dollar amount of a living unit determined by dividing the adjusted sales price by the number of living units (including any accessory dwelling units).

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The effective payment due date of the Interest Rate, principal and interest Payment or Service Fee Change.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The index value used to calculate the interest rate percent for this adjustment.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #MISMO3.4_iLAD

The calculated or pre-determined interest rate percent that will be effective on the Adjustment Change Effective Due Date.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The total number of months after which the loan will mature following an extension. When the term of a loan can be extended rather than increasing the principal and interest payment, this is the new term of the loan including any extension.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The new rate, expressed as a percent, at which the Servicer passes through interest on the loan to the investor. It can be computed using either a top-down formula: Loan Interest Rate - Servicing Fee Rate - Excess Yield Rate -Lender Guaranty Fee Rate, or a bottom-up formula: Index Rate + Net (a.k.a. Required) Margin Rate + Investor Guaranty Fee Rate + Yield Excess/Deficit Rate, and then applying any caps that are in effect.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Indicates the reason for the Interest Rate, principal and interest Payment or Service Fee change on an existing mortgage loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

A free-form text field used to capture the Adjustment Change Occurrence type if Other is selected.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The dollar amount of the principal and interest payment associated with the Adjustment Change Effective Due Date.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The projected principal balance amortized to the date for which interest rate, principal and interest payment, or convertible calculations were performed.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The recalculated fixed dollar amount that is paid to the servicer by the investor for servicing the mortgage if a service fee percent is not expressed.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD