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Mortgage Loan Officer > Acronym Glossary > Flashcards

Acronym Glossary Flashcards

1
Q

AARMR

A

America Association of Residential Mortgage Regulators.

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2
Q

ABA

A

Affiliated Business Arrangement.

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3
Q

AMCs

A

Appraisal Management Company.

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4
Q

AML

A

Anti-Money Laundering

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5
Q

APOR

A

Average Prime Offer Rate.

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6
Q

APR

A

Annual Percentage Rate.

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7
Q

ARM

A

Adjustable Rate Mortgage

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8
Q

ATR

A

Ability to Repay

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9
Q

AUS

A

Automated Underwriting System

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10
Q

BSA

A

Bank Secrecy Act

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11
Q

CAIVRS

A

Credit Alert Verification Reporting System

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12
Q

CFPB

A

Consumer Financial Protection Bureau.

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13
Q

CHARM

A

Consumer Handbook on Adjustable Rate Mortgages.

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14
Q

CLTV

A

Combined Loan to Value

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15
Q

COE

A

Certificate of Eligibility

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16
Q

COFI

A

Cost of Funds Index

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17
Q

DTI

A

Debt to Income

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18
Q

DU

A

Desktop Underwriter.

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19
Q

ECOA

A

Equal Credit Opportunity Act.

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20
Q

FACTA

A

Fair and Accurate Credit Transactions Act.

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21
Q

FCRA

A

Fair Credit Reporting Act.

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22
Q

FDIC

A

Federal Deposit Insurance Corporation.

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23
Q

FDIC

A

Federal Deposit Insurance Corporation.

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24
Q

FFIEC

A

Federal Financial Institutions Examination Council.

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25
Q

FHA

A

Federal Housing Administration.

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26
Q

FHLMC

A

Federal Home Loan Mortgage Corporation.

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27
Q

FHLMC

A

Federal Home Loan Mortgage corporation

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28
Q

Freddie Mac

A

Federal Home Loan Mortgage corporation FHLMC

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29
Q

FHLMC

A

Federal Home Loan Mortgage Corporation.

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30
Q

FinCEN:

A

Financial Crimes Enforcement Network

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31
Q

FNMA

A

Federal National Mortgage Association FANNIE MAE

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32
Q

Fannie Mae

A

FNMA: Federal National Mortgage Association

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33
Q

FTC

A

Federal Trade Commission

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34
Q

GFE

A

Good Faith Estimate.

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35
Q

GLBA

A

Gramm-Leach Bliley Act.

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36
Q

GNMA

A

Government National Mortgage Association

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37
Q

Ginnie Mae

A

GNMA:Government National Mortgage Association

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38
Q

GPM

A

Graduated Payment Mortgage.

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39
Q

GSE

A

Government Sponsored Enterprise

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40
Q

HARP

A

Home Affordable Refinance Program.

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41
Q

HECM

A

Home Equity Conversion Mortgage.

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42
Q

HELOC

A

Home Equity Line of Credit.

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43
Q

HMDA

A

Home Mortgage Disclosure Act.

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44
Q

HOA

A

Homeowner’s Association

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45
Q

HOEPA

A

Home Ownership and Equity Protection Act

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46
Q

HPA

A

Homeowners Protection Act

47
Q

HPML

A

Higher Priced Mortgage Loan

48
Q

HUD

A

U.S. Department of Housing and Urban Development.

49
Q

IO

A

Interest Only

50
Q

IP

A

Investment Property

51
Q

IRRRL

A

Interest Rate Reduction Refinance Loan.

52
Q

LP

A

Loan Prospector.

53
Q

LTV

A

Loan-to-Value

54
Q

MARS

A

Mortgage Assistance Relief Services Rule

55
Q

MBS

A

Mortgage Backed Security.

56
Q

MDIA

A

Mortgage Disclosure Improvement Act

57
Q

MERS

A

Mortgage Electronic Registration System

58
Q

MLO

A

Mortgage Loan Originator

59
Q

MMI

A

Monthly Mortgage Insurance.

60
Q

MSA

A

Marketing Services Agreements

61
Q

NINA

A

No income No Asset loan.

62
Q

NIV

A

No income verification

63
Q

NMLS

A

Nationwide Mortgage Licensing System and Registry

64
Q

NOO

A

Non-owner occupied

65
Q

O/O

A

owner-occupied.

66
Q

OCC

A

Office of the Comptroller of the Currency

67
Q

PITI

A

Principle, Interest, Taxes and Insurance.

68
Q

PMI

A

Private Mortgage Insurance.

69
Q

PPP

A

Prepayment Penalty.

70
Q

PUD

A

Planned Urban Development

71
Q

QM

A

Qualified Mortgage

72
Q

SAR

A

Suspicious Activity Report.

73
Q

SISA

A

Stated income, Stated Asset

74
Q

SRP

A

Service Release Premium

75
Q

SSN

A

Social Security Number

76
Q

TIL

A

Truth in Lending.

77
Q

TIN

A

Tax Identification Number

78
Q

TLTV

A

Total Loan to Value.

79
Q

TRID

A

TILA-RESPA Integrated Disclosure Rule

80
Q

UFMIP

A

Upfront Mortgage Insurance Premium.

81
Q

UST

A

Uniform State Test.

82
Q

VA

A

Department of Veterans Affairs.

83
Q

VOD

A

Verification of Deposit.

84
Q

VOE

A

Verification of Employment.

85
Q

VOM

A

Verification of Mortgage.

86
Q

VOR

A

Verification of Rent.

87
Q

YSP

A

Yield Spread Premium.

88
Q

FICO

A

Fair Issac Corporation

89
Q

RESPA

A

Real estate settlement procedures act

90
Q

OTS

A

Office of thrift supervision

91
Q

NCUA

A

National credit union administration

92
Q

FTC

A

Federal trade commission

93
Q

SAFE

A

Secure and fair enforcement act

94
Q

HERA

A

Housing and economic recovery act

95
Q

CSBS

A

Conference of state bank supervisors

96
Q

AFBA

A

Affiliate business arrangement disclosure

97
Q

ALTA

A

American land title association

98
Q

Cd

A

Closing disclosure

99
Q

CRV

A

Certificate of reasonable value

100
Q

FEMA

A

Federal emergency management agency

101
Q

FTC

A

Federal trade commission

102
Q

HPA

A

Homeowners protection act

103
Q

LIBOR

A

London interbank offering rate

104
Q

LE

A

Loan estimate

105
Q

MTA

A

12 month treasury average index

106
Q

POC

A

Paid outside closing

107
Q

TOR

A

Total obligations ratio- also known as backend ration

108
Q

USDA

A

U.S department of agriculture

109
Q

HER

A

Housing expense ratio- also know as the front end ratio

110
Q

ESIGN

A

Electronic signatures in global and national commerce act

111
Q

URAR

A

Uniform residential appraisal report

112
Q

TIP

A

Total interest percentage

113
Q

AMI

A

Area medium income

Mortgage Loan Officer (10 decks)

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