Business Glossary-Term List

Specifies the status of the documentation for an active workout.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

A free-form text field used to collect additional information when Other is selected as the Active Workout Document Status Type.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

Valuation of damaged property which allows for depreciation.

Term Source: MBA Glossary

Term Type: Data

Focus Area: #MBAGlossary

The actual dollar amount of the contribution.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The number of actual HUD funded housing counseling and education activities per category.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The actual dollar amount of the insurance claim.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The actual dollar amount of the insurance proceeds.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The dollar amount of the rent per finished area unit of measure (e.g. square feet, square meters) determined by dividing the amount of actual rent by the total finished area of the living unit.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The ActualSignatureType contains the actual type of the signature applied to the signature field.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Contains a description of the signature type when the value of �Other� is used for the ActualSignatureType attribute.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #ClosingDisclosure, #LDD

Remittance to investors which requires the servicer to give the investor actual interest (net of servicing fees) and actual principal collected from borrowers.

Term Source: MBA Glossary

Term Type: Other

Focus Area: #MBAGlossary

Based on the value of the property.

Term Source: MBA Glossary

Term Type: Data

Focus Area: #MBAGlossary

Real estate taxes on the assessed value of property.

Term Source: MBA Glossary

Term Type: Data

Focus Area: #MBAGlossary

Compliance with the provisions of the Americans with Disabilities Act which establishes minimum requirements for facilities with public access to accommodate physically handicapped persons.

Term Source: MBA Glossary

Term Type: Other

Focus Area: #MBAGlossary

The rehabilitation of old property for a new purpose.

Term Source: MBA Glossary

Term Type: Process

Focus Area: #MBAGlossary

Process of reviewing that the Lender information is accurately listed as the Mortgage Loss Payee on each of the subject property's insurance policies. The addition of the loss payee clause helps protect the Lender from loss, after closing, in the event the subject property is damaged by a covered event.

Term Source: MISMO Life of Loan

Term Type: Process

Focus Area: #MISMOLifeOfLoan, #Origination

The full amount of interest calculated on the original principal for the term of the loan. This interest is added to the original principal, thereby becoming a part of the face amount of the promissory note.

Term Source: MBA Glossary

Term Type: Data

Focus Area: #MBAGlossary

An agreement or list that is added to a contract, agreement or other document such as a letter of intent. FHA and VA require that an addendum be added to or incorporated in a sales contract, if it is written prior to the appraisal.

Term Source: MBA Glossary

Term Type: Document

Focus Area: #MBAGlossary

The income or assets of a person other than the borrower (including the spouse of the borrower) will be used as a basis for loan qualification.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD

The income or assets of the borrower's spouse will not be used as a basis for loan qualification, but his or her liabilities must be considered because the borrower resides in a community property state, the security property is located in a community property state, or the borrower is relying on other property located in a community property state as a basis for repayment of the loan.

Term Source: MISMO Logical Data Dictionary (LDD)

Term Type: Data

Focus Area: #LDD