Term Type Descriptions

Terms are used to add context to terms included in the MISMO Business Glossary. Every term in the Glossary is assigned one and only one Term Type.

Term Type	Description
Actor	Represents an individual, entity, or system, or a collection of individuals or entities, or systems. They are often associated with a particular role in the mortgage process
Data	Represents data points as documented in the MISMO Logical Data Dictionary (LDD). It also includes items from a third party source (e.g., amounts, dates, calculations, rates, and numbers).
Document	Record(s) of information, typically in written or digital form, that provides evidence, details, or context about a particular topic, event, or transaction. (e.g., Uniform Residential Loan Application).
Event	Thing that happens, especially one that is of importance (e.g., an act of God; accident; accretion). It occurs at a particular date or time period.
Other	A category for terms that do not fall into one of the other defined category types.
Outcome	The result of a process whether intended or unintended.
Process	Represents an action, or actions, to be taken (e.g., Take Loan Application; Underwrite Loan; Close Loan; Origination; etc.). A process tends to occur over time.
Regulation	A rule or set of rules that control or govern a system, process, or behavior.