Mortgage Industry Terms & Acronyms

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