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NMLS > AFFINITY > Flashcards

AFFINITY Flashcards

1
Q

AFBA

A

Affiliate Business Arrangement Disclosure

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2
Q

HERA

A

Housing & Economic Recovery Act

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3
Q

ALTA

A

American Land Title Association

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4
Q

HMDA

A

Home Mortgage Disclosure Acct

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5
Q

APR

A

Annual Percentage Rate

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6
Q

HOEPA

A

Home Ownership and Equity Protection Act

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7
Q

ARM

A

Adjustable Rate Mortgage

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8
Q

HPA

A

Homeowners Protection Act

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9
Q

CD

A

Closing Disclosure

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10
Q

HUD

A

U.S. Department of Housing and Urban Development

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11
Q

CFPB

A

Consumer Financial Protection Bureau

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12
Q

LIBOR

A

London Interbank Offering Rate

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13
Q

CHARM

A

Consumer Handbook on Adjustable-Rate Mortgages

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14
Q

LP

A

Loan Prospector

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15
Q

CLTV

A

Combined Loan-to-Value Ratio

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16
Q

LTV:

A

loan to value ratio

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17
Q

COFI

A

11th District Cost of Funds Index

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18
Q

MDIA:

A

Mortgage Disclosure Improvement Act

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19
Q

CRV

A

Certificate of Reasonable Value

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20
Q

MIP

A

Mortgage Insurance Premium

21
Q

DU

A

Desktop Underwriter

22
Q

MTA

A

12-Month Treasury Average Index

23
Q

ECOA

A

Equal Credit Opportunity Act (also known as Regulation B)

24
Q

NMLS&R

A

Nationwide Mortgage Licensing System and Registry

25
Q

FACT ACT

A

Fair and Accurate Credit Transactions Act

26
Q

PITI

A

Principle, Interest, Taxes, and Insurance

27
Q

FCRA

A

Fair Credit Reporting Act (Reg. V)

28
Q

PMI

A

Private Mortgage Insurance

29
Q

FEMA

A

Federal Emergency Management Agency

30
Q

POC

A

Paid Outside Closing

31
Q

FHA

A

Federal Housing Administration

32
Q

RESPA

A

Real Estate Settlement Procedures Act (also known as Regulation X)

33
Q

FHLMC

A

Federal Home Loan Mortgage Corporation (also known as Freddie Mac)

34
Q

SAFE Act:

A

Secure and Fair Enforcement for Mortgage Licensing Act

35
Q

FNMA

A

Federal National Mortgage Association ( also known as Fannie Mae)

36
Q

SRP

A

Service Release Premium

37
Q

FTC

A

Federal Trade Commission

38
Q

TILA

A

Truth in Lending Act (Reg. Z)

39
Q

GFE:

A

Good-Faith Estimate (also, good-faith estimate when not referring to the form)

40
Q

TOR

A

Total Obligations Ratio (also known as backend ratio)

41
Q

GLBA

A

Gramm-Leach-Bliley Act (SPF)

42
Q

TRID

A

TILA and RESPA Integrated Disclosures

43
Q

GNMA

A

Government National Mortgage

44
Q

USDA

A

U.S. Department of Agriculture

45
Q

GSE:

A

Government-Sponsored Entity

46
Q

VA/DVA

A

Veteran’s Administration/U.S. Department of Veterans Affairs

47
Q

HELOC

A

Home Equity Line of Credit

48
Q

VOE

A

Verification of Employment

49
Q

HER

A

Housing Expense Ratio (also known as front-end ratio)

NMLS (8 decks)

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