Business Glossary-Term List

Applies to all MISMO Products (standards and collateral) issued prior to January 1, 2018. This license is automatically granted when an organization downloads any MISMO Product (MISMO standards or collateral) with an issue date through December 31, 2017.

Term Source: MISMO Governing Documents

Term Type: Document

Focus Area: #MISMOGOV

Applies to all MISMO Products issued on or after January 1, 2018. The Distributor License is appropriate for organizations that develop technology that incorporates MISMO Products and makes that technology available to customers or external partners

Term Source: MISMO Governing Documents

Term Type: Document

Focus Area: #MISMOGOV

Applies to all MISMO Products issued on or after January 1, 2018. The 2018 End-User License is appropriate for organizations that download MISMO Products or develop technology that incorporates MISMO Products released after December 31, 2017, where the MISMO Products are used for internal company use when the organization does not make the MISMO products available to customers or external partners.

Term Source: MISMO Governing Documents

Term Type: Document

Focus Area: #MISMOGOV

Appointed by the Member, the employee who may act for the Voting Representative if that individual is unable to do so.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

Sets forth the MISMO policy on complying with Antitrust laws and avoiding the appearance or execution of collective action by Members or Non-Members. The MISMO Antitrust Policy may be found on the footer of mismo.org.

Term Source: MISMO Governing Documents

Term Type: Document

Focus Area: #MISMOGOV

If appointed by the Member, the employee or office to which MISMO will send invoices.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

A set of high level, generic business process flows depicting common activities that may occur over the 'Life of a Loan'. Links are provided within the process flows and related process narratives to MISMO Products. Enables business professionals to access MISMO Products within the context of the business process or processes they support.

Term Source: MISMO Governing Documents

Term Type: Document

Focus Area: #MISMOGOV

A formal process to announce the intent to pursue development of a MISMO Product and solicit participation by interested parties.

Term Source: MISMO Governing Documents

Term Type: Event

Focus Area: #MISMOGOV

Development Process Document Only: 1. Failure to adhere to, or rejection of, the IPR or Antitrust Policies; 2. Repeated blatant disregard of MISMO-approved processes after receiving a written request from MISMO to cease and desist prohibited activities; and 3. Making endorsement claims prohibited of a MISMO Member (or that would be prohibited of a person or entity if they were a Member) under MISMOs Bylaws or MISMO-approved processes. Policies and Procedures Only: 1. Failure to adhere to or rejection of the IPR or Antitrust Policies. 2. Repeated blatant disregard of these Policies and Procedures after receiving a written request from MISMO to cease and desist prohibited activities; and 3. Making endorsement claims prohibited of a MISMO Member (or that would be prohibited of a person or entity if they were a Member) under MISMOs Bylaws or these Policies and Procedures.

Term Source: MISMO Governing Documents

Term Type: Event

Focus Area: #MISMOGOV

Development Process Document Only: A brief statement describing a WG's purpose and scope Policies and Procedures Only: See Work Group Charter

Term Source: MISMO Governing Documents

Term Type: Document

Focus Area: #MISMOGOV

Focused on real estate finance transactions related to the origination, sale, and servicing of multifamily dwellings, office buildings, and other non-residential development projects.

Term Source: MISMO Governing Documents

Term Type: Other

Focus Area: #MISMOGOV

Community of Practice. A COP represents the business or technology interests of an industry segment and is made up of subject matter experts for that particular segment of the industry.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

A written or oral submission from a MISMO Member or Non-Member to a WG to assist with DWG in drafting a MISMO Standard or MISMO Collateral.

Term Source: MISMO Governing Documents

Term Type: Process

Focus Area: #MISMOGOV

Occurs when one organization has the power to influence the direction of the management, policies, or activities of the other. One organization "controls" another in spite of the fact that the controlling organization may own, directly or indirectly, through intermediary companies or not, less than fifty percent of the other organization.

Term Source: MISMO Governing Documents

Term Type: Other

Focus Area: #MISMOGOV

1) Development Process Document Only: The formal process, described in detail in this document, by which MISMO develops, tests, approves, and publishes its MISMO Products. 2) Policies and Procedures Only: The formal process, described in detail in the Development Process document, by which MISMO develops, tests, approves, and publishes its MISMO Products. 3) MBA Glossary: The process through which development projects are conceived, initiated, analyzed, financed, designed, built and managed.

Term Source: MBA Glossary

Term Type: Process

Focus Area: #MBAGlossary, #MISMOGOV

Member of the MISMO Board of Directors

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

An individual or organization who makes, has made, uses, distributes, sells, offers for sale, imports, modifies, reproduces, publishes, publicly performs, displays, or makes derivative works using, or that are compliant with, a MISMO Product where the individual or organization distributes or in any way provides the MISMO Product (including derivative and compliant works) to any person or entity outside of its own organization, whether or not a fee is received therefore.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

An individual or organization who makes, has made, uses, distributes, imports, modifies, reproduces, publishes, displays, or makes derivative works using, or that are compliant with, a MISMO Product where the individual or organization uses the MISMO Product (including derivative and compliant works) either (a) for its own internal business purposes, or (b) within the confines of its organization without distribution to any third party.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

The committee member representative recommended by the committee and approved by the Board to serve on the Board of Directors. Ex Officio Directors receive all Board communications and attend and participate in all Board meetings. However, they may not vote and do not count toward a meeting quorum.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

Two committees (one Residential Standards Governance and the other Commercial Standards Governance) nominated and elected from a cross- section of industry, that (along with the MISMO Manager) administers MISMO's day-to-day standard-setting activities and maintains the architectural consistency of MISMO Standards.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV