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:When true, indicates that the property is located in a project per trading partner guidelines.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
When true, indicates the property includes commercial space set aside to operate a business.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
A value from a MISMO prescribed list that specifies the time frame of a party's ownership of a property.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
When true, indicates that the property will be subject to a property clean energy lien that could take precedence over the first mortgage lien including PACE loan or other similar liens.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
A value from a MISMO prescribed list that specifies the intended usage of the property by the borrower.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
A free-form text field used to collect additional information when Other is selected for Property Usage Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
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
Effective date of the property valuation on the subject property.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #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
When true, indicates that the property is located within a Planned Unit Development (PUD). A PUD is a project or subdivision that consists of common property and / or improvements that are owned and maintained by an owners association for the benefit and use of the individual unit owners.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
The dollar amount of the Purchase Credit Type that is on the loan application.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
A free-form text field used to capture a description of the Purchase Credit Source Type when Other is selected.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
A value from a MISMO prescribed list that specifies monetary credits commonly accepted as valid sources of borrower funds to close a mortgage loan transaction excluding adding amounts to the note amount.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
A value from a MISMO prescribed list that classifies a refinanced loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
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
A value from a MISMO prescribed list that specifies a type of real property ownership by one or more parties. This defines the rights of the parties to occupy, sell their interest in the property to others, to will the property, or to sever joint ownership of the property.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
The description of the Relationship Vesting 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, #LoanApplication, #MISMO3.4_iLAD
When true, indicates that all or part of the subject loan proceeds will be used to finance the renovation of an existing property.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
The amount of the estimated gross monthly rental income derived from a single rental unit or property.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
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