Business Glossary-Term List

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

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

Specifies a unique category of employer which is the source of income for the borrower.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD, #LoanApplication

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