Mortgage Industry Terms & Acronyms

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