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:In mortgage securities, the time elapsed from receipt of mortgage payments from borrowers to remittance of pass-through cash flows to investors.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
The ratio of number of past due loans to total number of loans serviced.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
The calendar month during which a given contract expires and delivery can be made; also called expiration month.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
The unit change in the price of an option (the premium) for a unit change in the price of the underlying security.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
The study of the characteristics of human populations such as size, growth, density, distribution and vital statistics. Also known as demographics.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
The ratio between total land area and the number of residential or commercial structures placed upon it. Local ordinances usually regulate density.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
A sum of money given to (1) bind a sale of real estate or (2) assure payment or an advance of funds in the processing of a loan. Also called earnest money.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
The capital amount on which depreciation deductions are calculated.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
A decline in value of a building or other real estate improvement, resulting from age, physical wear and economic or functional obsolescence. This figure is deducted annually from net income.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
The accounting charge made to allow for the fact that an asset may become economically obsolete before complete physical deterioration. The purpose is to write off the original cost by distributing it over the estimated useful life of the asset. It appears in the profit and loss statement and the balance sheet.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
In a mortgage-backed security, the difference between the MBS security rate and the coupon rates of the underlying mortgages. The issuer retains the differential to pay for servicing costs and the guarantee.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
In loan originations, a discount refers to an amount withheld from loan proceeds by a lender. In secondary market sales, a discount is the amount by which the sale price of a note is less than its face value. In both instances, the purpose of a discount is to adjust the yield upward, either in lieu of interest or in addition to interest. The rate or amount of discount depends on money market conditions, the credit of the borrower and the rate or terms of the note.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
Amount payable to the lending institution by the borrower or seller to increase the lender�s effective yield. One point is equal to 1% of the loan.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
The rate of return used to convert expected discounted cash-flow analysis (DCF): Method of applying an appropriate discount to cash to be received in the future to arrive at the present value of those future earnings.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
A stockholder�s share of profits of a corporation. An insurance dividend is not a true dividend but a return of premium. Dividends from a savings and loan association, credit union passbook account or certificate are interest, and are not considered dividends.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
An actual XML or SGML file that contains data.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
A portion of the sales price paid a seller by a buyer to close a sales transaction, with the understanding that the balance will be paid at settlement. Also, the difference between the sale price of real estate and the mortgage amount.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
Date which the borrower must pay the interest and/or the principal and interest due on his or her mortgage, as stated in the note, as well as any escrow payment.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
Living quarters occupied, or intended for occupancy, by a household.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
A deposit made to bind the conditions of a sale of real estate.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
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].