Mortgage Acronyms

Clicking on an acronym below will expand the acronym and show its meaning.

  • 203B

    FHA Program: Fixed Rate Mortgages (Except for Condos)

  • 203K

    FHA Rehabilitation Loan Program

  • 216

    Appraisal Form: Operating Expense Statement

  • 234

    Loan Type: Fixed Rate Program – Condominiums

  • 248

    FHA ARM Program

  • 1003

    Form: Residential Loan Application

  • 1007

    Appraisal Form: Rental Survey

  • 1008

    Conventional Form: Transmittal Summary Listing Transaction and Borrower Income/Expense Features

  • 4506

    IRS Form to Obtain Income from IRS

  • 92900

    Form: Residential Loan Application (same as URLA)

  • 26-6393

    VA Form: Loan Analysis a Summer of Transaction and Borrower Income and Debt Information

  • ACE

    System: Automated Certificate of Eligibility

  • ACH

    System: Automated Clearing House


    Trade Organization: American Institute of Real Estate Appraisers

  • ALTA

    Form: American Land Title

  • AMC

    System: Appraisal Management Company Authorized to Issue Appraisals as a Vendor to a Lender

  • AML

    Law: Anti-Money Laundering

  • AMN

    System: Fannie Mae’s Asset Management Networth

  • APN

    Identification: Assessor’s Parcel Number

  • APR

    Formula: Annual Percentage Rate

  • ARM

    Loan Type: Adjustable Rate Mortgage

  • ATR

    Formula: Ability to Repay as Required by the CFPB & Fannie Mae

  • AUS

    System: Automated Underwriting System

  • AVM

    Appraisal: Automated Value Model (Appraisal) aka HVM – Housing Value Model

  • BPO

    Appraisal: Broker Price Opinion


    System: Credit Alert Verification Reporting System

  • CFPB

    Agency: Consumer Financial Protection Bureau – Agency Focused on Consumer Protection

  • CLTV

    Formula: Combined Loan-to-Value

  • COE

    Form: Certificate of Eligibility


    Property Type: Condominium

  • CONV

    Program Type: Conventional Loan

  • CPTA

    System: Ginnie Mae’s Central Paying and Transfer Agent

  • CRV

    VA Form for Appraised Value: Certificate of Reasonable Value

  • DD214

    Form: Military Separation Papers – Required on VA Loans to Obtain a Certificate of Eligibility

  • DE

    Designation: Direct Endorsement Underwriter


    Process: HUD Condominium Approval Process Performed by Lender

  • DL

    Identification: Driver’s License

  • DPA

    Program: Down Payment Assistance Program aka DAP

  • DQ2

    Report: Delinquency Status Reports for GNMA

  • DTI

    Formula: Debt-to-Income Ratio

  • DU

    System: Desktop Undewriter

  • E&O

    Insurance: Errors and Omissions


    System: Electronic Class for FHA Loss Mitigation and Servicing System

  • ECOA

    Law: Equality Credit Opportunity Act

  • EDI

    Process: Electronic Data Interchange

  • EIN

    Identification: Employer Identification Number aka TIN and FEIN

  • EPA

    Form: US Environmental Protection Agency


    Law: Fair and Accurate Credit Transactions Act

  • FCRA

    Law: Fair Credit Reporting Act

  • FDIC

    Agency: Federal Deposit Insurance Corporation

  • FEIN

    Identification: Federal Employee Identification Number aka EIN and TIN

  • FEMA

    Agency: Federal Emergency Management Agency

  • FFIC

    Agency: Federal Financial Institutions Examination Council

  • FHA

    Agency: Federal Housing Administration

  • FHAC

    System: FHA Connection

  • FHLB

    Agency: Federal Home Loan Bank


    Agency: Federal Home Loan Mortgage Corporation aka Freddie Mac

  • FICO

    Formula: Credit Score

  • FMV

    Formula: Fair Market Value

  • FNMA

    Agency: Federal National Mortgage Association aka Fannie Mae

  • FRV

    Formula: Fair Rent Value

  • FTC

    Agency: Federal Trade Commission

  • FV

    Formula: Future Value

  • GFE

    Document: Good Faith Estimate

  • GNMA

    Agency: Government National Mortgage Association aka Ginnie Mae

  • HAFA

    Program: Home Affordable Foreclosure Alternatives

  • HARP

    Program: Home Affordable Refinance Program

  • HECM

    Program: Home Equity Conversion Mortgage aka Reverse Mortgage


    Loan Type: Home Equity Line of Credit

  • HMDA

    Law: Home Mortgage Disclosure Act

  • HO6

    Insurance: Type of Condo Insurance

  • HOA

    Association: Homeowners Association


    Law: Home Ownership and Equity Protection Act

  • HPML

    Loan Type: High Priced Mortgage Loan aka High Cost Loan

  • HSSN

    System: Fannie Mae’s Homesaver Solutions Network

  • HUD

    Agency: Housing and Urban Development

  • HUD-1

    Form: Settlement Statement Showing All Credits and Debts Related to a Loan Transaction

  • HVM

    Appraisal: Home Value Model

  • JT

    Title: Joint Tenants

  • KYC

    Law: Know Your Customer

  • LAPP

    Lender Type: Lender Appraisal Process Program

  • LGC

    VA Insurance: Loan Guarantee Certificate

  • LOE

    Form: Letter of Explanation

  • LP

    System: Loan Prospector

  • LT

    Form: FHA’s Loan Transmittal (92900-LT) Reflecting Transaction and Borrower’s Incomes/Debts

  • LTV

    Formula: Loan-to-Value

  • MBA

    Trade Organization: Mortgage Bankers Association


    Form: Mortgage Bankers Financial Reporting Form

  • MBS

    Portfolio: Mortgage Backed Security

  • MERS

    System: Mortgage Electronic Registration System

  • MI

    Insurance: Mortgage Insurance

  • MIC

    FHA Form: Mortgage Insurance Certificate

  • MIN

    System: Mortgage Identification Number

  • NOI

    Formula: Net Operating Incom

  • NOO

    Occupancy: Non-Owner Occupied

  • NOV

    Appraisal: VA Notice of Value Completed by a Lender’s Approved Underwriter

  • OO

    Occupancy: Owner Occupied

  • OTS

    Agency: Office of Thrift Supervision

  • PITI

    Formula: Principal, Interest, Taxes, Insurance Amount on Property

  • PPA

    Ginnie Mae Pool Processing Agent

  • PV

    Formula: Present Value

  • QA

    Requirement: Quality Assurance

  • QC

    Requirement: Quality Control

  • R&T

    Program Type: Rate and Term

  • RD

    Agency: Rural Development


    Law: Real Estate Settlement Procedures Act

  • RPB

    Formula: Remaining Principal Balance


    System: Suspicious Activity Report

  • SAR-VA

    Delegation: Staff Appraisal Reviewer

  • SRP

    Formula: Service Release Program

  • SSA

    Agency: Social Security Administration

  • SSI

    Identification: Social Security Identification

  • SSN

    Identification: Social Security Number

  • SURF

    System: Fannie Mae’s Servicer’s Reconciliation Facility

  • TAS

    System: VA’s The Appraisal System

  • TIC

    Title: Tenants in Common

  • TIL

    Form: Truth-In-Lending

  • TILA

    Law: Truth-In-Lending Act

  • TIN

    Identification: Tax Identification Number aka EIN and FEIN

  • TLTV

    Formula: Total Loan-to-Value

  • TPO

    Entity: Third Party Originator


    Law: Unfair, Deceptive, Abusive Acts or Practices


    Fee: Upfront Mortgage Insurance Premium on FHA Loan

  • URAR

    Appraisal Form: Uniform Residential Appraisal Report

  • URLA

    Form: Uniform Residential Loan Application

  • USDA

    Agency: United States Department of Agriculture

  • VA

    Agency: Veteran Affairs


    System: VA Electronic Reporting Interface

  • VOD

    Form: Verification of Deposit

  • VOE

    Form: Verification of Employment

  • VOM

    Form: Verification of Mortgage

  • VOR

    Form: Verification of Rental Payment

  • VVOE

    Form: Verbal Verification of Employment