Mortgage Abbreviations
IMPRESS YOUR FRIENDS AT TRIVIA NIGHT WITH OUR COMPREHENSIVE LIST OF ABBREVIATIONS THAT ARE USED IN THE MORTGAGE WORLD!
- ALTA - American Land Title Association
- AMC - Appraisal Management Company
- AMI - Area Median Income
- API - Annual Percentage Interest
- APR - Annual Percentage Rate
- APY - Annual Percentage Yield
- ARM - Adjustable Rate Mortgage
- ATR - Ability to Repay Bps Basis points
- BWR - Borrower
- CBWR - Co-Borrower
- CC - Closing Costs
- CD - Closing Disclosure
- CLTV - Combined Loan-To-Value
- COE - Certificate of Eligibility
- CODI - Cost of Deposits Index
- COFI - Cost of Funds Index
- COSI - Cost of Savings Index Condo Condominium Co-op Cooperative
- CPI - Consumer Price Index
- CR - Credit Report
- CRA - Consumer Reporting Agency
- CRV - Certificate of Reasonable Value
- CTC - Clear-To-Close
- DO - Desktop Originator
- DTI - Debt-to-Income
- DU - Desktop Underwriter
- ECOA - Equal Credit Opportunity Act
- EFT - Electronic Fund Transfer
- EMA - Earnest Money Agreement
- FAIR - Fair Access to Insurance Requirement
- FCRA - Fair Credit Reporting Act
- FDIC - Federal Deposit Insurance Corporation
- FEMA - Federal Emergency Management Agency
- FHA - Federal Housing Administration
- FHFA - Federal Housing Finance Agency
- FHLMC - Federal Home Loan Mortgage Corporation (Freddie Mac)
- FNMA - Federal National Mortgage Association (Fannie Mae)
- FOMC - Federal Open Market Committee
- FRM - Fixed Rate Mortgage
- FTHB - First Time Home Buyer
- GDP - Gross Domestic Product
- GEM - Growing Equity Mortgage
- GFE - Good Faith Estimate (prior 10/3/15)
- GMI - Gross Monthly Income
- GNMA - Government National Mortgage Association (Ginnie Mae)
- GSE - Government Sponsored Enterprise
- HCLTV - Home Equity Combined Loan-to-Value
- HECM - Home Equity Conversion Mortgage
- HELOC - Home Equity Line of Credit
- HFA - Housing Finance Agency
- HOA - Homeowners Association
- HOEPA - Home Ownership and Equity Protection Act
- HUD - Department of Housing and Urban Development
- HUD-1 - Settlement Statement
- IDR - Independent Dispute Resolution
- IO - Interest Only
- IP - Investment Property
- IRS - Internal Revenue Service
- LIBOR - London Interbank Offered Rate
- LLC - Limited Liability Company
- LLPA - Loan Level Price Adjustment
- LO - Loan Originator
- LOC - Line of Credit
- LOS - Loan Origination System
- LP - Loan Prospector
- LPI - Last Paid Installment
- LPMI - Lender Paid Mortgage Insurance
- LTV - Loan-to-Value
- MACRS - Modified Accelerated Cost Recovery System
- MBS - Mortgage Backed Security
- MCR - Merged Credit Report
- MERS - Mortgage Electronic Registration System, Inc.
- MI - Mortgage Insurance
- MIC - Mortgage Insurance Certificate
- MIN - MERS Identification Number
- MIP - Mortgage Insurance Premium
- MSA - Metropolitan Statistical Area
- MSSC - Mortgage Selling and Servicing Contract
- MTA - Monthly Treasury Average
- NAMB - National Association of Mortgage Brokers
- NAPM - National Association of Purchasing Management
- NAR - National Association of Realtors
- NCLTN - National Community Land Trust Network
- NEG AM - Negative Amortization
- NINA - No Income No Asset
- NIV - No Income Verification
- NOD - Notice of Default
- NOO - Non-Owner Occupied
- NPI - Nonpublic Personal Information
- OFAC - Office of Foreign Assets Control
- O/O - Owner Occupied
- P&I - Principal and Interest
- PAL - Price Adjusted Loan
- PERS - Public Employees Retirement System
- PIH - Public and Indian Housing
- PITI - Principal, Interest, Taxes & Insurance
- PITIA - Principal, Interest, Taxes, Insurance & other Assessments
- PIW - Property Inspection Waiver
- PMI - Private Mortgage Insurance
- PPI - Producer Price Index
- PPP - Pre-Payment Penalty
- PUD - Planned Unit Development
- PR - Primary Residence
- QAS - Quality Assurance System
- QR - Qualifying Ratios
- RAM - Reverse Annuity Mortgage
- RD - Rural Development
- REIT - Real Estate Investment Trust
- REMIC - Real Estate Mortgage Investment Conduit
- REO - Real Estate Owned
- RESPA - Real Estate SeTlement Practices Act
- RHS - Rural Housing Service
- RPM - Rapid payment Method
- S&L - Savings and Loan Association
- SEC - Securities and Exchange Commission
- SFC - Special Feature Code
- SFHA - Special Flood Hazard Area
- SIFMA - Special Industry and Financial Markets
- SISA - Stated Income Stated Asset
- SIVA - Stated Income Verified Asset
- SMBS - Stripped Mortgage Backed Security
- SRP - Service Release Premium
- TBA - To Be Announced
- TBD - To Be Determined
- TILA - Truth in Lending Act
- T&I - Taxes and Insurance
- TLTV - Total Loan-to-Value
- UCC - Uniform Commercial Code
- UETA - Uniform Electronics Transactions Act
- UPB - Unpaid Principal Balance
- USDA - United States Department of Agriculture/Rural Housing Services
- USPAP - Uniform Standards of Professional Appraisal Practice
- VA - U.S. Department of Veterans Affairs
- VOD - Verification of Deposit
- VOE - Verification of Employment
- VOM - Verification of Mortgage
- VOR - Verification of Rent
- YSP - Yield Spread Premium
- YTM - Yield to Maturity