AFFINITY Flashcards
AFBA
Affiliate Business Arrangement Disclosure
HERA
Housing & Economic Recovery Act
ALTA
American Land Title Association
HMDA
Home Mortgage Disclosure Acct
APR
Annual Percentage Rate
HOEPA
Home Ownership and Equity Protection Act
ARM
Adjustable Rate Mortgage
HPA
Homeowners Protection Act
CD
Closing Disclosure
HUD
U.S. Department of Housing and Urban Development
CFPB
Consumer Financial Protection Bureau
LIBOR
London Interbank Offering Rate
CHARM
Consumer Handbook on Adjustable-Rate Mortgages
LP
Loan Prospector
CLTV
Combined Loan-to-Value Ratio
LTV:
loan to value ratio
COFI
11th District Cost of Funds Index
MDIA:
Mortgage Disclosure Improvement Act
CRV
Certificate of Reasonable Value
MIP
Mortgage Insurance Premium
DU
Desktop Underwriter
MTA
12-Month Treasury Average Index
ECOA
Equal Credit Opportunity Act (also known as Regulation B)
NMLS&R
Nationwide Mortgage Licensing System and Registry
FACT ACT
Fair and Accurate Credit Transactions Act
PITI
Principle, Interest, Taxes, and Insurance
FCRA
Fair Credit Reporting Act (Reg. V)
PMI
Private Mortgage Insurance
FEMA
Federal Emergency Management Agency
POC
Paid Outside Closing
FHA
Federal Housing Administration
RESPA
Real Estate Settlement Procedures Act (also known as Regulation X)
FHLMC
Federal Home Loan Mortgage Corporation (also known as Freddie Mac)
SAFE Act:
Secure and Fair Enforcement for Mortgage Licensing Act
FNMA
Federal National Mortgage Association ( also known as Fannie Mae)
SRP
Service Release Premium
FTC
Federal Trade Commission
TILA
Truth in Lending Act (Reg. Z)
GFE:
Good-Faith Estimate (also, good-faith estimate when not referring to the form)
TOR
Total Obligations Ratio (also known as backend ratio)
GLBA
Gramm-Leach-Bliley Act (SPF)
TRID
TILA and RESPA Integrated Disclosures
GNMA
Government National Mortgage
USDA
U.S. Department of Agriculture
GSE:
Government-Sponsored Entity
VA/DVA
Veteran’s Administration/U.S. Department of Veterans Affairs
HELOC
Home Equity Line of Credit
VOE
Verification of Employment
HER
Housing Expense Ratio (also known as front-end ratio)