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 the Borrower has conveyed property as deed in lieu of foreclosure within the past seven years.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
When true, indicates the borrower has had property foreclosed upon within the past seven years.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
When true, indicates the Borrower has completed a short sale or pre-foreclosure sale where the Lender accepted less than full value for the outstanding mortgage balance within the past seven years.
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 how the borrower held title to the property.
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 actual usage of the borrower for the previously owned property.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
A free-form text description of a Product, which is a provider-defined offering of goods or services, including mortgage loans.
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 form of ownership of a project. The Project Legal Structure Type defines the quality and quantity of project ownership and rights accruing to the individual unit owner.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
The date the property was acquired.
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 ownership interest in the property.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
A statement of the estimated present market value of the property that is from the borrower or loan originator.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #MISMO3.4_iLAD
When true, indicates that the property is 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
The final expiration date of the ground lease.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
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
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