Mortgage Industry Terms & Acronyms

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Across
  1. 1. Department of Housing and Urban Development
  2. 2. Mortgage Back Securities
  3. 5. Address, Loan Amount, Income, Estimated Value, Name, Social Security
  4. 10. Homeowner's Association
  5. 11. Consumer Financial Protection Bureau
  6. 14. Process of spreading out a loan into a series of fixed payments over time
  7. 16. United States Department of Agriculture & Rural Development
  8. 18. Veterans Affairs
  9. 20. 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. 21. Verification of Employment
  11. 22. Government Sponsored Enterprises (i.e. Fannie Mae or Freddie Mac)
  12. 23. Third Party Origination
Down
  1. 1. Homeowner's Insurance
  2. 3. Payments are amortized over a longer period than the actual term and the outstanding balance is due at the end of the term
  3. 4. LTV
  4. 5. Appraisal Management Company
  5. 6. Equal Credit Opportunity
  6. 7. Where mortgage bankers, GSEs, and investors buy and sell closed mortgage loans and loan servicing
  7. 8. Clear to Close
  8. 9. Payment, Interest, Taxes, Insurance
  9. 12. Federal Housing Administration
  10. 13. Loans that are partially funded by mortgage revenue bonds
  11. 15. 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
  12. 17. Debt-to-Income Ratio
  13. 19. Home Affordable Refinance Program
  14. 24. Private Mortgage Insurance