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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The number used to identify a single payment within a sequence of payments reflected on the Amortization Schedule for the loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
The dollar amount of the portion of the payment amount which is applied to the principal due on the loan as reflected on the Amortization Schedule for the loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
The dollar amount of the USDA Annual Fee payment due in addition to the payment amount reflected on the Amortization Schedule for the loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
A classification or description of a loan or a group of loans generally based on the changeability of the rate or payment over time.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #MISMO3.4_iLAD, #MISMO3.4_ULAD
A free-form text field used to collect additional information or a description of the amortization type when Other is selected.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD, #MISMO3.4_ULAD
The amount of money, or fair market value of other property, received in a sale or exchange.
Term Source: MBA Business Glossary
Term Type: Data
Focus Area: #MBAGlossary
An allowance, ordinarily a percentage of the replacement cost, that can be included in the mortgage insured by HUD/FHA to provide a nonprofit sponsor with working capital during the initial period of operation of a project.
Term Source: MBA Business Glossary
Term Type: Data
Focus Area: #MBAGlossary
The actual amount of the cost of a structural component that is being analyzed as specified by the Analysis Component Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
The actual amount of the total cost of structural components that are being analyzed.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
The estimated amount of the cost of a structural component that is being analyzed as specified by the Analysis Component Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
The estimated amount of the total cost of structural components that are being analyzed.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
A collection of values that specify the component, room or structural element being analyzed.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
A free-form text field that specifies the enumeration when the value of Other is used for the Analysis Component Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
A term defined in section 106 of the federal Truth in Lending Act (15 USC 1606), which expresses on an annualized basis the charges imposed on the borrower to obtain a loan (defined in the Act as "finance charges"), including interest, discount and other costs.
Term Source: MBA Business Glossary
Term Type: Data
Focus Area: #MBAGlossary, #MISMOApprovedAcronym
The first day of the first period for which an amount is due as payment under an annuity contract.
Term Source: MBA Business Glossary
Term Type: Data
Focus Area: #MBAGlossary
Specifies how the loan conditions have been changed for this comparison instance for the purposes of anti steering (safe harbor) regulatory requirements.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
A free-form text field which contains the description of the Anti-Steering comparison type when Other is selected as the Anti-Steering Comparison Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD
A complete and separate living unit in a building containing at least one other like unit.
Term Source: MBA Business Glossary
Term Type: Data
Focus Area: #MBAGlossary
An apartment complex which provides some hotel services, such as a restaurant or cleaning and linen services. Units are furnished and tenants may stay for extended periods.
Term Source: MBA Business Glossary
Term Type: Data
Focus Area: #MBAGlossary
Fee charged by a lender at the time of loan application. This fee may include the cost of an appraisal, credit report, lock-in fee or other closing costs which are incurred during the process or the fee may be in addition to other charges.
Term Source: MBA Business Glossary
Term Type: Data
Focus Area: #MBAGlossary
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