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:The date the closing documents were fully executed and the borrower becomes contractually responsible for the debt. Depending on the location (wet-sign, dry-sign, table-funded and/or escrow state) of the loan closing, the Closing Date may be the same date as either the Document Preparation Date and/or the Execution Date and/or the Recorded Date.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #MISMO3.4_iLAD
When true, indicates the property is located in a community property state.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
When true, indicates that the borrower lives in a community property state.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
The total cost amount of additions to raw land that normally increase its value (i.e., the building) as part of a construction loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
When true, indicates that the loan is a construction loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
Specifies the specific type of construction loan.
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 represents the manner in which the structure was constructed.
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 type of closing process for the construction-to-permanent loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
The email address for the contact.
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 the location associated with the Contact Point Type (for example, Phone).
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
The extension associated with the specified telephone number.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #MISMO3.4_iLAD
The telephone number for the contact.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #MISMO3.4_iLAD
When true, indicates that the subject transaction proceeds are used to pay off the remaining balance of the land contract (also known as a contract for deed).
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
The date the housing counseling/education program was completed by the borrower.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
When true, indicates that the applicant has completed counseling/education program.
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 format in which the counseling/education service is delivered.
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 categorizes the counseling/education service being delivered.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
The two-character representation of the country.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
An unstructured name that identifies the county within a state. (Designator Name based on FIPS Publication 6-4).
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
Date and time the referenced credit report was first issued.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
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