Acronyms

Question 1

NMLS or NMLSR

Answer 1

Nationwide Mortgage Licensing System and Registry.

Question 2

SAFE

Answer 2

Secure and Fair Enforcement for Mortgage Licensing Act

Question 3

RESPA

Answer 3

Real Estate Settlement Procedures Act

Question 4

CFPB

Answer 4

Consumer Financial Protection Bureau.

Question 5

CSBS

Answer 5

Conference of State Bank Supervisors .

Question 6

AARMR

Answer 6

American Association of Residential Mortgage Regulators.

Question 7

TILA

Answer 7

Truth in Lending Act

Question 8

AfBA

Answer 8

Affiliated Business Arrangement Disclosure Statement.

Question 9

ECOA

Answer 9

Equal Credit Opportunity Act (Reg B)

Question 10

HMDA

Answer 10

Home Mortgage Disclosure Act

Question 11

TCPA

Answer 11

Telephone Consumer Protection Act.

Question 12

GLBA

Answer 12

Gramm-Leach- Bliley Act.

Question 13

FACTA

Answer 13

Fair and Accurate Credit Transactions Act.

Question 14

FCRA

Answer 14

Fair Credit Reporting Act (Reg V)

Establishes requirements for credit reporting and creditworthiness of applicants.

Question 15

E-Sign

Answer 15

Electronic Signature in Global and National Commerce Act.

Question 16

LTV

Answer 16

Loan to Value Ratio

Question 17

CLTV

Answer 17

Combined Loan to Value Ratio

Question 18

HCLTV

Answer 18

High Combined Loan to Value Ratio (Same as TLTV)

Question 19

TLTV

Answer 19

Total Loan to Value Ratio (Same as HCLTV)

Question 20

HELOC

Answer 20

Home Equity Line of Credit

Question 21

APOR

Answer 21

Average Prime Offer Rate

Question 22

MARS

Answer 22

Mortgage Assistance Relief Services Rule

Question 23

BSA

Answer 23

Bank Secrecy Act

Question 24

GNMA

Answer 24

Government National Mortgage Association (Ginnie Mae- 1968)

Question 25

HPA

Answer 25

Homeowners Protection Act

Question 26

FNMA

Answer 26

The Federal National Mortgage Association (Fannie Mae- 1938)

Question 27

USPAP

Answer 27

Uniform Standards of Professional Appraisal Practice

Question 28

CRV

Answer 28

Certificate of Reasonable Value (VA Appraisal)

Question 29

HOEPA

Answer 29

Home Ownership and Equity Protection Act. Requires specific disclosures on loans with APR's more than 6.5 percentage points on first liens, and more than 8.5 percentage points on subsequent liens, above the average prime offer rate.

Question 30

LIBOR

Answer 30

London Interbank Offered Rate Index

Question 31

COFI

Answer 31

Cost of Funds Index COFI is the acronym for the 11th District Monthly Weighted Average Cost of Funds Index. The COFI is computed from the actual interest expenses on savings and borrowings reported for a given month by Arizona, California and Nevada savings institutions that are members of the Federal Home Loan Bank of San Francisco.

Question 32

CMT

Answer 32

One Year Constant Maturity Treasury Rate

Question 33

LLPA

Answer 33

Loan Level Price Adjustment

Question 34

FHLMC

Answer 34

Federal Home Loan Mortgage Corporation (Freddie Mac- 1970)

Question 35

HECM

Answer 35

Home Equity Conversion Mortgage

Question 36

HOEPA

Answer 36

Home Ownership and Equity Protection Act (1994) Amended the TILA by adding disclosure requirements for high-rate, high-fee loans

Question 37

HMDA

Answer 37

Home Mortgage Disclosure Act (Reg C)