Acronym Glossary Flashcards by Alisha McCormick

Q

AARMR

A

America Association of Residential Mortgage Regulators.

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Q

ABA

A

Affiliated Business Arrangement.

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Q

AMCs

A

Appraisal Management Company.

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Q

AML

A

Anti-Money Laundering

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Q

APOR

A

Average Prime Offer Rate.

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Q

APR

A

Annual Percentage Rate.

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Q

ARM

A

Adjustable Rate Mortgage

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Q

ATR

A

Ability to Repay

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Q

AUS

A

Automated Underwriting System

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Q

BSA

A

Bank Secrecy Act

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Q

CAIVRS

A

Credit Alert Verification Reporting System

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Q

CFPB

A

Consumer Financial Protection Bureau.

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Q

CHARM

A

Consumer Handbook on Adjustable Rate Mortgages.

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Q

CLTV

A

Combined Loan to Value

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Q

COE

A

Certificate of Eligibility

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Q

COFI

A

Cost of Funds Index

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Q

DTI

A

Debt to Income

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Q

DU

A

Desktop Underwriter.

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Q

ECOA

A

Equal Credit Opportunity Act.

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Q

FACTA

A

Fair and Accurate Credit Transactions Act.

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Q

FCRA

A

Fair Credit Reporting Act.

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Q

FDIC

A

Federal Deposit Insurance Corporation.

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Q

FDIC

A

Federal Deposit Insurance Corporation.

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Q

FFIEC

A

Federal Financial Institutions Examination Council.

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FHA

Federal Housing Administration.

FHLMC

Federal Home Loan Mortgage Corporation.

FHLMC

Federal Home Loan Mortgage corporation

Freddie Mac

Federal Home Loan Mortgage corporation FHLMC

FHLMC

Federal Home Loan Mortgage Corporation.

FinCEN:

Financial Crimes Enforcement Network

FNMA

Federal National Mortgage Association FANNIE MAE

Fannie Mae

FNMA: Federal National Mortgage Association

FTC

Federal Trade Commission

GFE

Good Faith Estimate.

GLBA

Gramm-Leach Bliley Act.

GNMA

Government National Mortgage Association

Ginnie Mae

GNMA:Government National Mortgage Association

GPM

Graduated Payment Mortgage.

GSE

Government Sponsored Enterprise

HARP

Home Affordable Refinance Program.

HECM

Home Equity Conversion Mortgage.

HELOC

Home Equity Line of Credit.

HMDA

Home Mortgage Disclosure Act.

HOA

Homeowner’s Association

HOEPA

Home Ownership and Equity Protection Act

HPA

Homeowners Protection Act

HPML

Higher Priced Mortgage Loan

HUD

U.S. Department of Housing and Urban Development.

IO

Interest Only

IP

Investment Property

IRRRL

Interest Rate Reduction Refinance Loan.

LP

Loan Prospector.

LTV

Loan-to-Value

MARS

Mortgage Assistance Relief Services Rule

MBS

Mortgage Backed Security.

MDIA

Mortgage Disclosure Improvement Act

MERS

Mortgage Electronic Registration System

MLO

Mortgage Loan Originator

MMI

Monthly Mortgage Insurance.

MSA

Marketing Services Agreements

NINA

No income No Asset loan.

NIV

No income verification

NMLS

Nationwide Mortgage Licensing System and Registry

NOO

Non-owner occupied

O/O

owner-occupied.

OCC

Office of the Comptroller of the Currency

PITI

Principle, Interest, Taxes and Insurance.

PMI

Private Mortgage Insurance.

PPP

Prepayment Penalty.

PUD

Planned Urban Development

QM

Qualified Mortgage

SAR

Suspicious Activity Report.

SISA

Stated income, Stated Asset

SRP

Service Release Premium

SSN

Social Security Number

TIL

Truth in Lending.

TIN

Tax Identification Number

TLTV

Total Loan to Value.

TRID

TILA-RESPA Integrated Disclosure Rule

UFMIP

Upfront Mortgage Insurance Premium.

UST

Uniform State Test.

VA

Department of Veterans Affairs.

VOD

Verification of Deposit.

VOE

Verification of Employment.

VOM

Verification of Mortgage.

VOR

Verification of Rent.

YSP

Yield Spread Premium.

FICO

Fair Issac Corporation

RESPA

Real estate settlement procedures act

OTS

Office of thrift supervision

NCUA

National credit union administration

FTC

Federal trade commission

SAFE

Secure and fair enforcement act

HERA

Housing and economic recovery act

CSBS

Conference of state bank supervisors

AFBA

Affiliate business arrangement disclosure

ALTA

American land title association

Cd

Closing disclosure

CRV

Certificate of reasonable value

FEMA

Federal emergency management agency

FTC

Federal trade commission

HPA

Homeowners protection act

LIBOR

London interbank offering rate

LE

Loan estimate

MTA

12 month treasury average index

POC

Paid outside closing

TOR

Total obligations ratio- also known as backend ration

USDA

U.S department of agriculture

HER

Housing expense ratio- also know as the front end ratio

ESIGN

Electronic signatures in global and national commerce act

URAR

Uniform residential appraisal report

TIP

Total interest percentage

AMI

Area medium income