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The mortgage industry is filled with jargon and abbreviations that can confuse even the most experienced professional. There are 91 different acronyms and abbreviations listed in the Fannie Mae Sellers Guide, and it is not a comprehensive list. Here is a little quiz to test your knowledge of what some of these abbreviations mean. Consider the category and the clue to hazard a guess before flipping to the answer on the next slide.
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HOEPA

Clue: This law sets the thresholds for determining when a loan becomes a high-cost mortgage.
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HOEPA

Home Ownership Equity and Protection Act
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SFHA

Clue: Servicers are required to keep tabs on flood maps to see if they changed and a property had been placed into this zone.
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SFHA

Special Flood Hazard Area
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RHS

Clue: This government program provides mortgage loans for many other purposes besides farm land.
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RHS

Rural Housing Service
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DTI

Clue: Underwriters use this ratio to determine if the borrower has the financial capacity to manage their obligations.
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DTI

Debt To Income
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UETA

Clue: One of its purposes is to harmonize state laws regarding the recognition of electronic signatures on documents.
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UETA

Uniform Electronic Transactions Act
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PITI

Clue: The borrower's monthly payment is broken down into these components.
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PITI

Principal and Interest plus Taxes and Insurance
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ATR

Clue: The Dodd-Frank Act requires lenders to make sure the borrower has this capability.
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ATR

Ability To Repay
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NINA

Clue: It's not a woman's name but a type of loan that was a cause of the mortgage meltdown, some people state.
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NINA

No Income No Asset verification
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LLPA

Clue: This is a risk-based fee assessed to conforming borrowers that varies based loan traits.
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LLPA

Loan-Level Pricing Adjustments
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UCDP

Clue: Appraisal reports for conforming mortgages must be submitted through this electronic gateway.
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UCDP

Uniform Collateral Data Portal
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