Business Glossary-Term List

The amount of the estimated net 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

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

The date the sales contract was fully executed.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

When true, indicates that the individual is self-reporting as having served, or is currently serving in the US Armed Forces. Includes enlisted persons that may not have served in "Active Duty" status, and service in the National Guard or Reserves. Also includes surviving spouses of Veterans who served and were Missing In Action (MIA) /Killed In Action (KIA), who died of a condition or impairment connected to their service in the Armed Forces (as determined by VA or DoD), or who self-report that their spouse's service and connected disability/impairment entitles them to benefits from the VA.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

When true, indicates that the borrower has a family relationship or business affiliation with the seller of the property.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

When true, indicates that the individual is a surviving spouse of a Veteran who served and was Missing In Action (MIA) /Killed In Action (KIA), a Veteran who died of a condition or impairment connected to his/her service in the Armed Forces (as determined by VA or DoD), or a Veteran whose service connected disability/impairment, they believe, entitles them to benefits from the VA.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

The two-character representation of the US state, US Territory, Canadian Province/Territory, or Military Address abbreviation (for example: AE, AP, AA).

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

The name suffix of the individual represented by the parent object. (E.g., JR = Junior, SR = Senior, etc.)

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 classifies identification numbers used by the Internal Revenue Service (IRS) in the administration of tax laws. A Social Security number (SSN) is issued by the SSA; all other taxpayer identification numbers are issued by the IRS.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

The specific value of the taxpayer identifier as assigned by the Internal Revenue Service (IRS) to the individual or legal entity.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

The total monthly liabilities for all borrowers on the loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

The total monthly qualifying income for all borrowers on the loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

The number of 1-4 unit properties that are financed and owned and/or obligated on by the borrower(s). A jointly owned/obligated property by multiple borrowers would count only once.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

The total amount of all non-subject-property- liabilities to be paid to complete the real estate transaction.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

The sum total dollar amount of the value of all sales concessions granted by an interested party including such items as furniture, carpeting, decorator allowances, automobiles, vacations, securities, giveaways or other sales incentives.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

The total amount of all subject-property- liabilities to be paid as part of the real estate transaction.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

The total amount of subordinate financing associated with the loan.

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 categorizes a trust.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

The amount of the closing funds or down payment that is borrowed or provided by another party, including the seller, and not disclosed on the mortgage loan application.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

When true, indicates that some or all of the closing funds or down payment is borrowed or provided by another party, including the seller, and not disclosed on the mortgage loan application.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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