Do you feel like you are drowning in alphabet soup? Acronyms have become common-place in the title insurance industry. In fact, acronyms have come so far that there are acronyms of acronyms! One of the newest is TRID, an acronym for TILA-RESPA Integrated Disclosure Rule. Some acronyms are part of an industry group or association, such as ALTA, NAHB, DOI, or DFR; sometimes an acronym may describe certain standards.
There are so many acronyms that it can be confusing and certainly overwhelming. The table below contains some of the industry’s most commonly used acronyms and their meanings.
1031 |
1031 Exchange |
ABA |
American Bankers Association or American Bar Association |
ALTA |
American Land Title Association |
APN |
Assessor’s Parcel Number |
APR |
Annual Percentage Rate |
ARM |
Adjustable Rate Mortgage |
BPO |
Broker Price Opinion or Business Process Outsourcing |
BPOSG |
BPO Standards and Guidelines |
CBA |
Consumer Banker Association |
CC&Rs |
Covenants, Conditions and Restrictions |
CCC |
Closing Cost Calculator |
CFPB |
Consumer Financial Protection Bureau |
CLE |
Continuing Legal Education |
CLI |
Certified Legal Intern |
CLTV |
Combined Loan to Value |
CPL |
Closing Protection Letter |
DFR |
Department of Federal Regulation |
DFS |
Department of Financial Services |
DIL |
Deed In Lieu |
DOI |
Department of Insurance |
E&O |
Errors and Omissions Insurance |
ECOA |
Equal Credit Opportunity Act (Regulation B) |
FACC |
First American Comprehensive Calculator |
FAEC |
First American Exchange Company |
FAF |
First American Financial Corporation stock symbol |
FCL |
Foreclosure |
FDIC |
Federal Deposit Insurance Corporation |
FHA |
Federal Housing Administration |
FHFA |
Federal Housing Finance Agency |
FHLMC |
Federal Home Loan Mortgage Corporation (Freddie Mac) |
FNMA |
Federal National Mortgage Association (Fannie Mae) |
FRM |
Fixed Rate Mortgage |
FTC |
Federal Trade Commission |
GLBA |
Gramm-Leach-Bliley Act |
GNMA |
Government National Mortgage Association (Ginnie Mae) |
GSE |
Government Sponsored Entity |
HAMP |
Home Affordable Modification Program |
HARP |
Home Affordable Refinance Program |
HELOC |
Home Equity Line of Credit |
HMDA |
Home Mortgage Disclosure Act |
HOA |
Home Owners Association |
HOEPA |
Home Ownership and Equity Protection Act |
HUD |
Department of Housing and Urban Development |
LOC |
Letter of Credit |
LTV |
Loan to Value |
MBA |
Mortgage Bankers Association |
MBS |
Mortgage Backed Securities |
MERS |
Mortgage Electronic Registration System |
MISMO |
Mortgage Industry Standards Maintenance Organization |
MLS |
Multiple Listing Service |
NAHB |
National Association of Home Builders |
NAR |
National Association of Realtors |
NCS |
National Commercial Services |
NNA |
National Notary Association |
NOD |
Notice of Default |
NOS |
Notice of Sale |
NPI |
Non-public Personal Information |
OCC |
Office of the Comptroller of the Currency |
O&E |
Ownership and Encumbrance Report |
OFAC |
Office of Foreign Assets Control |
OIR |
Office of Insurance Regulation |
PID |
Positive Identification |
PMI |
Private Mortgage Insurance |
POA |
Power of Attorney |
POC |
Paid Outside of Closing |
PTFA |
Protecting Tenants at Foreclosure Act |
REA |
Reciprocal Easement Agreement |
REIT |
Real Estate Investment Trust |
REO |
Real Estate Owned |
RESPA |
Real Estate Settlement Procedures Act |
ROI |
Return on Investment |
SCRA |
Service Members Civil Relief Act |
SDN |
Specially Designated Nationals |
SNDA |
Subordination, Non-Disturbance, and Attornment Agreement |
TILA |
Truth in Lending Act (Regulation Z) |
TRID |
TILA-RESPA Integrated Disclosure Rule |
UCC |
Uniform Commercial Code |
UDAP |
Unfair and Deceptive Acts and Practices |
UPB |
Unpaid Principal Balance |
UPL |
Unauthorized Practice of Law |
USC |
United States Code |
UTA |
United Trustee Association |
VA |
Department of Veterans Affairs |