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Abbreviations > MLO Acronyms > Flashcards

MLO Acronyms Flashcards

1
Q

MDIA

A

Mortgage Disclosure Improvement Act
3/7/3 Rule
Under TILA Reg Z

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2
Q

MARI

A

Mortgage Asset Research Institute

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3
Q

SFHA

A

Special Flood Hazard Area

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4
Q

Real Estate Settlement Procedures Act

A

RESPA

REG X

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5
Q

Consumer Financial Protection Bureau

A

CFPB

Dodd Frank Act/ Consumer Finance Protection Act

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6
Q

FACTA or FACT ACT

A

Fair and Accurate Credit Transaction Act

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7
Q

FCRA

A

Fair credit reporting act

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8
Q

GLBA

A

Gramm Leach Bliley Act…formerly known as the “Financial Services Modernization Act 1999”

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9
Q

SAFE

A

Secure and Fair Enforcement

Falls under HERA

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10
Q

HERA

A

Housing and Economic Recovery Act 2008

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11
Q

FHFA

A

Federal Housing Finance agency
Control Fannie & Freddie in 2008
HERA Allowed it

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12
Q

CSBS

A

Conference of State Bank Supervisors

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13
Q

AARMR

A

American Association of Residential Mortgage Regulators

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14
Q

NMLS

A

Nationwide Multistate Licensing System & Regisrty

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15
Q

APOR

A

Average Prime Offer Rate

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16
Q

HOEPA

A

Home Ownership & Equity Protection Act of 1994

Falls Under TILA/ Reg Z

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17
Q

MARS

A

Mortgage Assistance Relief Services

Regulation O

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18
Q

LAR

A

Loan Application Register

Reports to Federal Government/ FFEIC (281)

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19
Q

SAR

A

Suspicious Activity Report
Within 30/60 days
Reported to FinCEN

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20
Q

MAP

A

Mortgage Acts and Practice

Reg N

21
Q

HVCC

A

Home Value Code of Conduct

Falls Under-Dodd Frank Act

22
Q

MCR

A

Mortgage Call Reports

State & Entity Level (804-086)

23
Q

MBS

A

Mortgage Backed Security

24
Q

No Doc

A

Credit & Appraisal Only

25
Q

SISA

A

Stated Income Stated Assets

26
Q

NINA

A

No Income NO Assets

27
Q

SIVA

A

Stated Income Verified Assets

28
Q

NIVA

A

No Income Verified Assets

29
Q

NCSD

A

National Credit Score Disclosure

30
Q

HLACSD

A

Home Loan Application Credit Score Disclosure

31
Q

FFIEC

A

Federal Financial Institutions Examination Council

32
Q

E- Sign Act

A

The electronic signatures in Global & National Commerce Act

-Dry Signature

33
Q

CTR

A

Currency Transaction Report

*Must be filled out within 15 days of a transaction to IRS

34
Q

CRA

A

Community Reinvestment Act

*Put in place to combat Redlining (Done by lenders)

35
Q

CRA

A

Credit Reporting Agency

Transunion, Equifax, Experian

36
Q

CRA

A

Consumer Reporting Agency

37
Q

NPI

A

Non Public Personal Information

GLBA

38
Q

PITI

A

Principal
Interest
Taxes
Insurance

39
Q

CIP

A 
Customer Identification Program 
Falls under (BSA)
40
Q

USPAP

A

Uniform Standard of Professional Appraisal Practice

41
Q

DVA

A

Department of Veteran Affairs

42
Q

CTC

A

Clear to Close

43
Q

HUD

A

Housing & Urban Development

44
Q

HECM

A

Home Equity Conversion Mortgage

45
Q

POA

A

Power of Attorney

46
Q

TIP

A

Total Interest Percentage

47
Q

EBR

A

Established Business Relationship

48
Q

FinCEN

A

Financial Crimes Enforcement Network

Abbreviations (1 decks)

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