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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Term Source: MISMO eMortgage
Term Type: Other
Focus Area: #eMortgage
Acronym for Mortgage Identification Number, a unique 18-digit number permanently assigned to an eNote registered on the MERS� eRegistry or a Mortgage loan registered on the MERS� System. The MIN is a unique 18-digit number that is permanently assigned to a mortgage loan registered on the MERS� System or an eNote registered on the MERS� eRegistry. The MIN is composed of a MERS� Member's 7-digit Org ID, a 10-digit sequence number, and a Check Digit. This term is also defined in the MERS� eRegistry Procedures Manual available at members.mersinc.org.
Term Source: MISMO eMortgage
Term Type: Data, Other
Focus Area: #eMortgage, #LDD, #MISMOApprovedAcronym
An XML specification that provides a flexible yet simple mechanism to collect one or more SMART Docs�, images, PDFs and other related and/or encoded embedded files in a single 'electronic file' for exchange between two trading partners. Also known as eMortgage Package.
Term Source: MISMO eMortgage
Term Type: Other
Focus Area: #eMortgage
All documents from the origination and/or closing process (including paper or Electronic Records) associated with a real-estate secured loan and/or customarily included in the loan documentation file created by the originating lender.
Term Source: MISMO eMortgage
Term Type: Other
Focus Area: #eMortgage, #MBAGlossary
XML Namespaces defined by the W3C provide a mechanism for authoring compound documents (documents from multiple sources) in such a way that provides global identification of the source without collisions of tag names or other structural definitions.
Term Source: MISMO eMortgage
Term Type: Other
Focus Area: #eMortgage, #MBAGlossary
A Negotiable Instrument is defined in Article 3 of the Uniform Commercial Code. Most Transferrable records related to first mortgage loans are intended to be Negotiable Instruments.
Term Source: MISMO eMortgage
Term Type: Document
Focus Area: #eMortgage, #MBAGlossary
An act, whether performed with respect to a tangible or electronic record, that a notarial officer may perform under the law of a specific state. The term includes taking an acknowledgement, administering an oath or affirmation, taking a verification on oath or affirmation, witnessing or attesting a signature, certifying or attesting a copy, and noting a protest of a negotiable instrument.
Term Source: MISMO eMortgage
Term Type: Event
Focus Area: #eMortgage
PDF Advanced Electronic Signatures.
Term Source: MISMO eMortgage
Term Type: Document
Focus Area: #eMortgage
Remote online notarization of paper documents (delivered via mail, courier, etc.) with use of multi-factor authentication.
Term Source: MISMO eMortgage
Term Type: Process
Focus Area: #eMortgage
Adobe�s Portable Document Format (PDF), which allows for exchange of documents between computer systems in an International Standards Organization (ISO) format (ISO 32000-1 ratified in January 2008). PDF is a file format for representing documents in a manner independent of the application software, hardware, and operating system used to create them and of the output device on which they are to be displayed or printed. ISO owns the copyright.
Term Source: MISMO eMortgage
Term Type: Other
Focus Area: #eMortgage
An ISO standard for an electronic document file format that enables long-term preservation.
Term Source: MISMO eMortgage
Term Type: Other
Focus Area: #eMortgage
An ISO standard for the long-term preservation of documents. In PDF/A-1: � All fonts must be embedded, � All color spaces must be device-independent, � Javascript, embedded files, encryption, external content references, transparency, layers, and XFA forms data are prohibited, and � Standards-based metadata must be used.
Term Source: MISMO eMortgage
Term Type: Other
Focus Area: #eMortgage
An ISO standard for the long-term preservation of documents. Adds support for a number of additional features that are not allowed in PDF/A-1. Specifically: � Transparency � Layers (also referred to as "optional content") � JPEG-2000 compression � Embedding of OpenType fonts � Digital signatures in accordance with the PAdES standard � Embedding of other PDF/A-2 documents
Term Source: MISMO eMortgage
Term Type: Other
Focus Area: #eMortgage
An ISO standard for the long-term preservation of documents. Adds to PDF/A-2 specification the ability to embed arbitrary documents in PDF/A-3 (such as XML data) in PDF/A files.
Term Source: MISMO eMortgage
Term Type: Other
Focus Area: #eMortgage
See Public Key Infrastructure.
Term Source: MISMO eMortgage
Term Type: Other
Focus Area: #eMortgage
Property Records Industry Association (www.pria.us).
Term Source: MISMO eMortgage
Term Type: Other
Focus Area: #eMortgage
Public Key Infrastructure term. The secret key of the Key Pair that is controlled only by the person or entity to which it was issued. By encrypting a message with the Public Key, only the holder of the Private Key can decrypt the message. Likewise, the holder of the Private key can encrypt messages that can only be decrypted by the Public key.
Term Source: MISMO eMortgage
Term Type: Other
Focus Area: #eMortgage
A written unconditional promise to pay a specified sum of money in accordance with the terms of the writing.
Term Source: MISMO eMortgage
Term Type: Document
Focus Area: #eMortgage, #MBAGlossary
Public Key Infrastructure term. The published or publicly available key of a two- Key Pair that are mathematically linked. By encrypting a message with the Public Key, only the holder of the Private Key can decrypt the message. Likewise, the holder of the Private Key can encrypt messages that can only be decrypted by the Public Key, thus proving that a person is the holder of the Private Key.
Term Source: MISMO eMortgage
Term Type: Other
Focus Area: #eMortgage
See Digital Certificate.
Term Source: MISMO eMortgage
Term Type: Document
Focus Area: #eMortgage
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].