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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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Data
Analysis Component Actual Total Cost Amount

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

Analysis Component Estimated Cost Amount

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

Analysis Component Estimated Total Cost Amount

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

Analysis Component Type

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

Analysis Component Type Other Description

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

Annual Percentage Rate (APR)

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 Glossary

Term Type: Data

Focus Area: #MBAGlossary, #MISMOApprovedAcronym

Annuity Starting Date

The first day of the first period for which an amount is due as payment under an annuity contract.

Term Source: MBA Glossary

Term Type: Data

Focus Area: #MBAGlossary

Anti Steering Comparison Type

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

Anti Steering Comparison Type Other Description

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

Anticipated Recording Date

The date that the lender expects the recordation of the lien documents to be completed given geographical custom.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Apartment

A complete and separate living unit in a building containing at least one other like unit.

Term Source: MBA Glossary

Term Type: Data

Focus Area: #MBAGlossary

Apartment Hotel

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 Glossary

Term Type: Data

Focus Area: #MBAGlossary

APOR

Average Prime Offer Rate

Term Source: LDD Acronym

Term Type: Data

Focus Area: #LDD, #MISMOApprovedAcronym

Application Fee

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 Glossary

Term Type: Data

Focus Area: #MBAGlossary

Application Received Date

The date the creditor or originator received the application from the borrower for the subject mortgage loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Application Signed By Loan Originator Date

The date the Loan Originator signed the loan application.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Application Taken Method Type

A value from a MISMO prescribed list that specifies the method used to take the application.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

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

Applying For Restoration Of VA Entitlement Indicator

When true, allows a borrower who has previously utilized their VA loan entitlement to purchase another home with the VA's guaranty.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Appraisal Analysis Message Code

A coded value defined by the appraisal analysis provider identifying a type of feedback message about the appraisal analysis.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Appraisal Analysis Message Text

A free-form alphanumeric string which contains the feedback message text about the appraisal analysis from the appraisal analysis provider.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

 

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