Business Glossary-Term List

The Mortgage Bankers Association (MBA) is the�national association that represents the real estate finance industry. It is a member-based nonprofit organization. The national MBA is headquartered in Washington D.C., though it works closely in collaboration with local and state mortgage bankers associations around the country.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOApprovedAcronym

A MISMO Engineering Guideline (MEG) is published to assist the work groups in creating their specifications and to assist developers of MISMO Products to achieve consistent and technically appropriate products that meet the needs of the user community. The MEGs shall be adhered to during the development process without any deviation. MISMO has developed a series of MEGs to guide the process and production of Version 3.x Reference Model. In the event of a conflict between the MEGs and the DPD, the DPD takes precedence.

Term Source: MISMO Governing Documents

Term Type: Document

Focus Area: #MISMOApprovedAcronym

Any organization that has submitted the MISMO subscription application and the appropriate subscription fees and has been accepted as a member to MISMO.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

Any employee of a Member organization. May also be a consultant to a Member if designated by the Member in writing to MISMO.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

Any employee of a Member organization. May also be a consultant to a Member if designated by the Member in writing to MISMO. See also Voting Representative.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

MISMO Engineering Guidelines describe best practices that assure consistent and technically appropriate XML or other implementation specific structure. They also may assist developers of Extensible Markup Language.

Term Source: MISMO Governing Documents

Term Type: Document

Focus Area: #MISMOGOV

A dedicated MISMO resource assigned to help accelerate the velocity of the development process for work products that MISMO undertakes.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

The entity engaged to oversee the day-to-day operational management of the MISMO organization.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

Any organization that has submitted the MISMO membership application and the appropriate membership fees and has been accepted as a Member to MISMO.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

Refers to a MISMO Officer as identified in the MISMO Bylaws and P&Ps Sec. 1.2.2�.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

All documents, publications, and other artifacts created by MISMO including, without limitation, the MISMO Standards and MISMO Collateral. These two are referred to collectively as MISMO Products.

Term Source: MISMO Governing Documents

Term Type: Document

Focus Area: #MISMOGOV

A dedicated MISMO staff resource to ensure all work products are developed in a timely and consistent manner. The Program Manager will track status and progress of all work products.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

Any individual who provides advice and counsel to the Prioritization Committee and Board of Directors related to new product ideas and prioritization in the entire mortgage industry ecosystem.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

The Nominating Committees (NC)�s primary responsibility is to identify and develop future board members and leaders.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOApprovedAcronym

A Work Group who collaborates with MISMO Community, the Mortgage Industry, Emerging Tech Community of Practice and MISMO Product Manager in surfacing, vetting and prioritizing new product ideas.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

Any individual who engages in one or more MISMO Development Work Group (DWG) or other activities that is not a MISMO Member or an employee of an organization that has a MISMO membership in good standing. Such activities include, but are not limited to making a Contribution, attending meetings, or participating by telephone, Internet, or e-mail. All Non- Members are �Participants� under the terms of the IPR Policy.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOGOV

Policies and Procedures. This document has been adopted by the MISMO Board of Directors (�Board�) to govern the activities of the organization. The Policies and Procedures (P&Ps) defined in this document address all activities of the organization. The detailed procedures for the development of the MISMO Products are defined in separate documents.

Term Source: MISMO Governing Documents

Term Type: Document

Focus Area: #MISMOApprovedAcronym

Patent Rights are all patents and patent applications owned by a MISMO License Participant that would be infringed on by an organization that makes, has made, uses, sells, offers for sale, or imports a product or service using or complying with a MISMO Standard (except for any patents and patent applications that the MISMO License Participant disclosed to MISMO as not being subject to the Royalty-Free License.) NOTE: If the patent application is unpublished, the MISMO License Participant must identify the portions of the relevant MISMO Standard that infringes on the application.

Term Source: MISMO Governing Documents

Term Type: Other

Focus Area: #MISMOGOV

The Prioritization Committee (PC) is responsible for providing guidance on organizational priorities and key initiatives. This includes overseeing the Business Executive Team; Senior Advisors; and the New Product Incubator. It further includes recommending to the MISMO Board of Directors which products should be MISMO Standards and which should be MISMO Collateral.

Term Source: MISMO Governing Documents

Term Type: Actor

Focus Area: #MISMOApprovedAcronym

The number of votes cast for a winning candidate if this number is less than a majority but more than that cast for any other candidate.

Term Source: MISMO Governing Documents

Term Type: Other

Focus Area: #MISMOGOV