01-mortgageabbreviations-cover.jpg
Love 'em or hate 'em, the mortgage business is full of jargony abbreviations. There are even abbreviations of abbreviations (we're looking at you, TRID). Some abbreves are so ubiquitous, it's easy to forget what they even stand for.

Test your mortgage knowledge on these key industry terms. Consider the category and clue to hazard a guess before flipping to the answer on the next slide.

Check out the first edition of our mortgage abbreviation slideshow here.
02a-mortgageabbreviations-FHFA.jpg
Clue: On Sept. 7, 2008, this regulator placed Fannie Mae and Freddie Mac into conservatorship.
02b-mortgageabbreviations-FHFA.jpg
Federal Housing Finance Agency
03a-mortgageabbreviations-WAM.jpg
Clue: It is not the name of a British pop group, but part of a mortgage servicing rights buyer's portfolio analysis.
03b-mortgageabbreviations-WAM.jpg
Weighted Average Maturity
04a-mortgageabbreviations-PMIER.jpg
Clue: The government-sponsored enterprises want to make sure mortgage insurers have enough money to pay claims.
04b-mortgageabbreviations-PMIER.jpg
Private Mortgage Insurer Eligibility Requirements
05a-mortgageabbreviations-COFI.jpg
Clue: This is not your morning beverage but a reference index for some adjustable rate mortgages.
05b-mortgageabbreviations-COFI.jpg
Cost of Funds Index
06a-mortgageabbreviations-UCD.jpg
Clue: This GSE creation allows information on the closing disclosure to be communicated electronically.
06b-mortgageabbreviations-UCD.jpg
Uniform Closing Dataset
07a-mortgageabbreviations-SCRA.jpg
Clue: Active duty military families receive extra protections against foreclosure under this law. Violations could be costly.
07b-mortgageabbreviations-SCRA.jpg
Servicemembers Civil Relief Act
08a-mortgageabbreviations-FIRREA.jpg
Clue: This response to the thrift crisis of the 1980s instituted rules that still govern residential property appraisals.
08b-mortgageabbreviations-FIRREA.jpg
Financial Institutions Reform Recovery and Enforcement Act
09a-mortgageabbreviations-CLTV.jpg
Clue: It's the ratio of the total amount of debt on a property and its value; some lenders went up to 125%.
09b-mortgageabbreviations-CLTV.jpg
Combined Loan To Value
10a-mortgageabbreviations-ARC.jpg
Clue: Freddie Mac seller/servicers can choose this alternative for sending the agency its portion of the monthly payment.
10b-mortgageabbreviations-ARC.jpg
Accelerated Remittance Cycle
11a-mortgageabbreviations-MISMO.jpg
Clue: This group creates the specifications lenders use to share data.
11b-mortgageabbreviations-MISMO.jpg
MISMO