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").
Return to full Term List
Download Business Glossary
(MISMO Members)
Refine Results
Search on:Transactions involving selling one home and purchasing another on the same day, usually within hours of one another.
Term Source: MBA Glossary
Term Type: Process
Focus Area: #MBAGlossary
The process of taking all data stored on the computer and copying it onto tapes, or another storage medium, so it can be shipped to another location for safekeeping.
Term Source: MBA Glossary
Term Type: Process
Focus Area: #MBAGlossary
A secondary offer to buy property although the first offer has been accepted, useful in case the first offer fails.
Term Source: MBA Glossary
Term Type: Document
Focus Area: #MBAGlossary
A report of the financial position of a business at a specific point in time, showing its assets, liabilities and owner�s equity.
Term Source: MBA Glossary
Term Type: Document
Focus Area: #MBAGlossary
A mortgage with periodic installments of principal and interest that do not fully amortize the loan. The balance of the mortgage is due in a lump sum at a specified date, usually at the end of the term.
Term Source: MBA Glossary
Term Type: Document
Focus Area: #MBAGlossary
A mortgage with periodic installments of principal and interest that do not fully amortize the loan. The balance of the mortgage is due in a lump sum at a specified date, usually at the end of the term.
Term Source: MBA Glossary
Term Type: Document
Focus Area: #MBAGlossary
A scheduled payment on a mortgage that is larger than other, periodic payments, usually the unamortized final payment.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
The risk that a borrower is unable to make a balloon payment at maturity.
Term Source: MBA Glossary
Term Type: Other
Focus Area: #MBAGlossary
An approach to developing a capitalization rate by creating a weighted average rate reflecting the percentage of value represented by each debt and ownership position.
Term Source: MBA Glossary
Term Type: Process
Focus Area: #MBAGlossary
This is generally used to describe a network connection�s information-carrying capacity. It can refer to phone or computer networks, radio frequency signals and even monitors. The more bandwidth, the more users it can support and the more data those users can transmit and receive. Bandwidth is often measured in cycles per second, or hertz (Hz), which is the difference between the lowest and highest frequencies transmitted. But it�s also common to use bits or bytes per second. A full page of pure text is about 16,000 bits, and a fast modem can move about 56,000 bits per second.
Term Source: MBA Glossary
Term Type: Other
Focus Area: #MBAGlossary
A corporation that owns a controlling interest in one or more banks.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
Members are primarily commercial banks.
Term Source: MBA Glossary
Term Type: Actor
Focus Area: #MBAGlossary
Court proceedings to relieve the debts of an individual or business unable to pay its creditors. An individual, firm or corporation who, through a court proceeding, is relieved from the payment of all debts. Bankruptcy may be declared under one of several chapters of the federal bankruptcy code: Chapter 7, which covers liquidation of individual or business assets; Chapter 11, which covers reorganization of bankrupt businesses; Chapter 12, which covers certain farm bankruptcies; and Chapter 13, which covers workouts of debts by individuals.
Term Source: MBA Glossary
Term Type: Process
Focus Area: #MBAGlossary
The mortgage amount before financed mortgage insurance or VA funding fee is added.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
The minimum fixed guaranteed rent in a commercial property lease.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
The maximum amount of building operating expenses which will be borne by the landlord prior to passing additional amounts through to the tenant. The base stop is expressed as an absolute dollar amount or dollar per square foot amount.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
Similar to "base stop," except that rather than being specified as an absolute amount, the landlord�s expenses are limited to the amount incurred in a specified calendar or fiscal year, usually (but not always) the calendar year in which the lease commences.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
The rent charged in a subsidized housing project and computed on the basis of a maximum subsidy.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
The cost of a property, including improvements, refinancing costs, closing costs and similar costs, less depreciation. Basis is used for tax purposes to calculate any profit or loss realized on the sale of a property.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
One one-hundredth of one percent. Used primarily to describe changes in yield or price on debt instruments, including mortgages and mortgage-backed securities.
Term Source: MBA Glossary
Term Type: Data
Focus Area: #MBAGlossary
AUTHORIZED USAGE: All usage of this product is dictated by the terms and conditions within the MISMO 2018 Intellectual Property Rights (IPR) Policy. For more information, please see complete Authorized Usage / Patent Disclosure Request or contact [email protected].