MLO Acronyms

Question 1

MDIA

Answer 1

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

Question 2

MARI

Answer 2

Mortgage Asset Research Institute

Question 3

SFHA

Answer 3

Special Flood Hazard Area

Question 4

Real Estate Settlement Procedures Act

Answer 4

RESPA

REG X

Question 5

Consumer Financial Protection Bureau

Answer 5

CFPB

Dodd Frank Act/ Consumer Finance Protection Act

Question 6

FACTA or FACT ACT

Answer 6

Fair and Accurate Credit Transaction Act

Question 7

FCRA

Answer 7

Fair credit reporting act

Question 8

GLBA

Answer 8

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

Question 9

SAFE

Answer 9

Secure and Fair Enforcement

Falls under HERA

Question 10

HERA

Answer 10

Housing and Economic Recovery Act 2008

Question 11

FHFA

Answer 11

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

Question 12

CSBS

Answer 12

Conference of State Bank Supervisors

Question 13

AARMR

Answer 13

American Association of Residential Mortgage Regulators

Question 14

NMLS

Answer 14

Nationwide Multistate Licensing System & Regisrty

Question 15

APOR

Answer 15

Average Prime Offer Rate

Question 16

HOEPA

Answer 16

Home Ownership & Equity Protection Act of 1994

Falls Under TILA/ Reg Z

Question 17

MARS

Answer 17

Mortgage Assistance Relief Services

Regulation O

Question 18

LAR

Answer 18

Loan Application Register

Reports to Federal Government/ FFEIC (281)

Question 19

SAR

Answer 19

Suspicious Activity Report
Within 30/60 days
Reported to FinCEN

Question 20

MAP

Answer 20

Mortgage Acts and Practice

Reg N

Question 21

HVCC

Answer 21

Home Value Code of Conduct

Falls Under-Dodd Frank Act

Question 22

MCR

Answer 22

Mortgage Call Reports

State & Entity Level (804-086)

Question 23

MBS

Answer 23

Mortgage Backed Security

Question 24

No Doc

Answer 24

Credit & Appraisal Only

Question 25

SISA

Answer 25

Stated Income Stated Assets

Question 26

NINA

Answer 26

No Income NO Assets

Question 27

SIVA

Answer 27

Stated Income Verified Assets

Question 28

NIVA

Answer 28

No Income Verified Assets

Question 29

NCSD

Answer 29

National Credit Score Disclosure

Question 30

HLACSD

Answer 30

Home Loan Application Credit Score Disclosure

Question 31

FFIEC

Answer 31

Federal Financial Institutions Examination Council

Question 32

E- Sign Act

Answer 32

The electronic signatures in Global & National Commerce Act | -Dry Signature

Question 33

CTR

Answer 33

Currency Transaction Report | *Must be filled out within 15 days of a transaction to IRS

Question 34

CRA

Answer 34

Community Reinvestment Act | *Put in place to combat Redlining (Done by lenders)

Question 35

CRA

Answer 35

Credit Reporting Agency | Transunion, Equifax, Experian

Question 36

CRA

Answer 36

Consumer Reporting Agency

Question 37

NPI

Answer 37

Non Public Personal Information | GLBA

Question 38

PITI

Answer 38

Principal Interest Taxes Insurance

Question 39

CIP

Answer 39

``` Customer Identification Program Falls under (BSA) ```

Question 40

USPAP

Answer 40

Uniform Standard of Professional Appraisal Practice

Question 41

DVA

Answer 41

Department of Veteran Affairs

Question 42

CTC

Answer 42

Clear to Close

Question 43

HUD

Answer 43

Housing & Urban Development

Question 44

HECM

Answer 44

Home Equity Conversion Mortgage

Question 45

POA

Answer 45

Power of Attorney

Question 46

TIP

Answer 46

Total Interest Percentage

Question 47

EBR

Answer 47

Established Business Relationship

Question 48

FinCEN

Answer 48

Financial Crimes Enforcement Network