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:An eClosing is the act of closing a mortgage loan electronically. This occurs through a secure environment(s) where one or more required closing documents are accessed, presented, and signed electronically.
Term Source: MISMO eMortgage Glossary
Term Type: Process
Focus Area: #eMortgageGlossary, #MBAGlossary
Process in which a mortgage loan is closed electronically through a secure environment in which closing documents are accessed, presented, and signed digitally.
Term Source: MISMO Life of Loan
Term Type: Process
Focus Area: #MISMOLifeOfLoan, #Origination
A mortgage loan where the closing documents -- through an eClosing process that includes, at a minimum, the Transferrable records -- are created, accessed, presented, executed, transferred and stored electronically.
Term Source: MISMO eMortgage Glossary
Term Type: Other
Focus Area: #eMortgageGlossary, #MBAGlossary
A signing process for documents in the mortgage industry in which certain documents are printed and signed on paper while other documents are signed electronically.
Term Source: MISMO eMortgage Glossary
Term Type: Process
Focus Area: #eMortgageGlossary
A mortgage loan where the process of gathering borrower qualifying information is performed in an automated and streamlined fashion such as through a borrower portal. Some of the loan documents, such as the loan application, may be created, accessed, presented, executed, transferred and stored electronically. A digital mortgage may or may not result in an eClosing.
Term Source: MISMO eMortgage Glossary
Term Type: Process
Focus Area: #eMortgageGlossary
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].