MLO Short Hand Flashcards Preview

MLO License > MLO Short Hand > Flashcards

Flashcards in MLO Short Hand Deck (30):
1

RESPA [stands for]

Real Estate Settlement Procedures Act

2

ECOA [stands for}

Equal Credit Opportunity Act

3

TILA [stands for]

Truth in Lending Act

4

HOEPA [stands for]

Home Ownership & Equity Protection Act

5

TRID Rule [stands for]

TILA-RESPA Integrated Disclosure Rule

6

HPA [stands for]

Homeowners Protection Act

7

S.A.F.E. Act [stands for]

Secure And Fair Enforcement [for Mortgage Licensing} Act

8

HMDA [stands for]

Home Mortgage Disclosure Act

9

FCRA [stands for]

Fair Credit Reporting Act

10

FACTA [stands for]

Fair & Accurate Credit Transactions Act

11

FTC [stands for]

Federal Trade Commission [Red Flags Rule]

12

BSA & AML [stands for]

Bank Secrecy Act || Anti-Money Laundering Law [USA PATRIOT Act]

13

GLB [stands for]

Gramm-Leach-Bliley Act

14

MAP [stands for]

Mortgage Acts & Practices Rule

15

ATR [stands for]

Ability To Repay Rules

16

QM [stands for]

Qualified Mortgage Rules

17

CFPB [stands for]

Consumer Financial Protection Bureau

18

HUD [stands for]

Department of Housing & Urban Development

19

DTI [stands for]

Debt-To-Income (ratio)

20

YSP [stands for]

Yield Spread Premium [Borrower Credit]

21

LTV [stands for]

Loan To Value

22

MI [stands for]

Mortgage Insurance

23

HELOC [stands for]

Home Equity Line Of Credit

24

DOJ [stands for]

United States Department of Justice

25

CCPA [stands for]

Consumer Credit Protection Act

26

APR [stands for]

Annual Percentage Rate

27

CHARM Booklet [stands for]

Customer Handbook on Adjustable-Rate Mortgages (CHARM) Booklet

28

PMI

Private Mortgage Insurance

29

MIP

Mortgage Insurance Premium

30

ARM

Adjustable Rate Mortgages