Mortgage Industry Terms

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Across
  1. 3. Consumer Financial Protection Bureau
  2. 6. Payments are amortized over a longer period than the actual term and outstanding balance is due at the end of the term
  3. 11. Loan to Value
  4. 12. Where mortgage bankers, GSEs, and investors buy and sell closed mortgage loans and loan servicing
  5. 13. Federal Housing Administration
  6. 14. Home Affordable Refinance Program
  7. 15. Private Mortgage Insurance
  8. 17. Department of Housing and Urban Development
  9. 18. Legal agreement where creditor lends money at interest in exchange for taking title of the debtor’s property and is void upon the payment of the debt in full
  10. 20. Debt to Income Ratio
  11. 21. Clear to Close
  12. 22. Third Party Origination
  13. 23. Government Sponsored Enterprises (i.e. Fannie Mae (FNMA) or Freddie Mac (FHLMC))
Down
  1. 1. Appraisal Management Company
  2. 2. Equal Credit Opportunity Act
  3. 4. Loans that are partially funded by mortgage revenue bonds
  4. 5. Veterans Affairs
  5. 7. Process of spreading out a loan into a series of fixed payments over time
  6. 8. Mortgage Back Securities
  7. 9. United States Department of Agriculture & Rural Development
  8. 10. Verification of Employment
  9. 15. Payment,Interest,Taxes,Insurance
  10. 16. Homeowner's Association
  11. 17. Homeowner's Insurance
  12. 19. When property taxes and homeowner’s insurance is also collected in the monthly payments and the lender disburses the payments to the tax collector or insurance agent on behalf of the borrower