Mortgage Acronyms

Question 1

FACT ACT

Answer 1

Fair and Accurate Credit Transactions Act

Question 2

SAFE Act

Answer 2

Secure and Fair Enforcement for Mortgage Licensing Act

Question 3

HER

Answer 3

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

Question 4

VOE

Answer 4

Verification of Employment

Question 5

ECOA

Answer 5

Equal Credit Opportunity Act (also known as Regulation B)

Question 6

GFE

Answer 6

Good-Faith Estimate

Question 7

LP

Answer 7

Loan Prospector

Question 8

GLBA

Answer 8

Gramm-Leach-Bliley Act

Question 9

HPA

Answer 9

Homeowners Protection Act

Question 10

LIBOR

Answer 10

London Interbank Offering Rate

Question 11

FTC

Answer 11

Federal Trade Commission

Question 12

USDA

Answer 12

U.S. Department of Agriculture

Question 13

FNMA

Answer 13

Federal National Mortgage Association ( also known as Fannie Mae)

Question 14

CD

Answer 14

Closing Disclosure

Question 15

CRV

Answer 15

Certificate of Reasonable Value

Question 16

SRP

Answer 16

Service Release Premium

Question 17

HERA

Answer 17

Housing & Economic Recovery Act

Question 18

MDIA

Answer 18

Mortgage Disclosure Improvement Act

Question 19

APR

Answer 19

Annual Percentage Rate

Question 20

HELOC

Answer 20

Home Equity Line of Credit

Question 21

CFPB

Answer 21

Consumer Financial Protection Bureau

Question 22

MTA

Answer 22

12-Month Treasury Average Index

Question 23

VA or DVA

Answer 23

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

Question 24

GSE

Answer 24

Government-Sponsored Entity

Question 25

FHA

Answer 25

Federal Housing Administration

Question 26

GNMA

Answer 26

Government National Mortgage Association

Question 27

CLTV

Answer 27

Combined Loan-to-Value Ratio

Question 28

PMI

Answer 28

Private Mortgage Insurance

Question 29

RESPA

Answer 29

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

Question 30

AFBA

Answer 30

Affiliate Business Arrangement Disclosure

Question 31

ARM

Answer 31

Adjustable-Rate Mortgage

Question 32

FEMA

Answer 32

Federal Emergency Management Agency

Question 33

TILA

Answer 33

Truth in Lending Act (Reg. Z)

Question 34

HOEPA

Answer 34

Home Ownership and Equity Protection Act

Question 35

NMLS&R

Answer 35

Nationwide Mortgage Licensing System and Registry

Question 36

FHLMC

Answer 36

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

Question 37

FCRA

Answer 37

Fair Credit Reporting Act (Reg. V)

Question 38

LTV

Answer 38

Loan-to-Value Ratio

Question 39

HMDA

Answer 39

Home Mortgage Disclosure Act

Question 40

DU

Answer 40

Desktop Underwriter

Question 41

MIP

Answer 41

Mortgage Insurance Premium

Question 42

POC

Answer 42

Paid Outside Closing

Question 43

CHARM

Answer 43

Consumer Handbook on Adjustable-Rate Mortgages

Question 44

TOR

Answer 44

Total Obligations Ratio (also known as backend ratio)

Question 45

TRID

Answer 45

TILA and RESPA Integrated Disclosures

Question 46

HUD

Answer 46

U.S. Department of Housing and Urban Development