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 original cost of acquiring the land on which the home will be built. This is used for purchase, construction and refinance loans.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
Identifies the designation of land use by a governmental authority described by Land Used Description.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD, #Origination
A free-form text field used to describe the land use designation if Other is selected as the Property Land Use Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
A coded value identifying the language in which interactions and communication with a party may take place. Possible CodeOwnerURI values include http://www.iso.org/iso/home/standards/language_codes.htm for values defined by ISO-639-2 and http://data.hud.gov/Housing_Counselor/getLanguages for HUD defined values.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
A free-form text field that specifies an "Other" language name.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
When true, indicates the party has stated that they do not wish to provide language information.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
The last name of the individual represented by the parent object.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
A unique alphanumeric string identifying the liability.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
The dollar amount of the monthly payment required on borrower's Liability Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
When true, indicates that the liability will be paid off at or before closing.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
The number of months the borrower must make payments in order to satisfy the identified liability.
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 represents a financial obligation of an individual or entity. In a mortgage transaction, these are typically related to one or more borrowers.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #MISMO3.4_iLAD
Specifies the other liability type when Other is selected.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #MISMO3.4_iLAD
The amount of the outstanding balance for a Liability Type.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #MISMO3.4_iLAD
Level of authority of the license issuer.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #MISMO3.4_iLAD
The identifier of the license or certificate issued to the party. The attribute IdentifierOwnerURI identifies the issuer of the license or certificate.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
The two-character representation of the US state, US Territory, Canadian Province, Military APO FPO, or Territory in which the party is licensed or certified to operate.
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 priority of the lien against the property.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
The number periods (as defined by the Loan Amortization Period Type) over which the scheduled loan payments of principal and/or interest are calculated to retire the obligation.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
The duration of time used to define the period over which the loan is amortized.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
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