MISMO Releases Updated Business Glossary to Align with New Credit Scores, UAD 3.6, and More
WASHINGTON, D.C. (June 16, 2026) – MISMO®, the real estate finance industry’s standards organization, today announced the release of an updated MISMO Business Glossary, reinforcing its commitment to fostering a shared, industry-wide understanding of mortgage and real estate finance terminology.
The MISMO Business Glossary delivers a curated set of standardized business definitions used across the mortgage lifecycle. By providing consistent terminology, the glossary helps industry participants communicate more clearly, improve operational efficiency, and reduce misunderstandings that can lead to risk and errors.
The glossary draws from several key sources, including MISMO’s Reference Model, AI Glossary, eMortgage Glossary, and the Mortgage Bankers Association’s (MBA) Legacy Business Glossary. This latest update reflects extensive collaboration across the MISMO community and expands support for recent standards advancements in key areas, including:
- Credit Scoring
- UAD 3.6 and Valuation Procurement
- Reverse Mortgages
- eHELOCs
- Housing Counseling
- Mortgage Compliance Dataset
- SMART Doc® V3
- Remote Online Notarization (RON)
- VA Military Service Classification
- Fee Classification
A shared business language is essential to efficiency, interoperability, and risk reduction across the mortgage industry. Through ongoing maintenance of the Business Glossary and alignment with the latest MISMO Reference Model, MISMO helps minimize ambiguity, improve communication, and support smoother handoffs across the mortgage lifecycle. Organizations can also leverage the glossary as an operational and training resource to promote consistent terminology across teams and business partners.
"A business glossary ensures we share a common understanding of key terms as we develop and align on industry standards." said Richard Collins, Business Architect at United Wholesale Mortgage
The updated MISMO Business Glossary was developed by MISMO’s Business Glossary Community of Practice as part of MISMO’s ongoing “care and feeding” of its core work products. The Community of Practice is led by Rusty Emory of PrimeLending, Chair, and United Wholesale Mortgage’s Collins (Vice Chair).
The MISMO Business Glossary has achieved “Final” status, indicating broad industry consensus, thorough review, and readiness for industry use. MISMO encourages lenders, servicers, technology providers, and other industry participants to leverage the glossary terms to enhance consistency, reduce operational risk, and improve alignment across the mortgage lifecycle.
For more information or questions, please contact [email protected].