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