Mortgage Term Abbreviations

ARM

Adjustable rate mortgage
APR

Annual percentage rate
CRV

Certificate of Reasonable Value
ECOA

Equal Credit Opportunity Act
FHA

Federal Housing Administration
FHLBB

Federal Home Loan Bank Board
FHLMC

Federal Home Loan Mortgage Corporation (a.k.a. "Freddie Mac")
FmHA

Farmers Home Administration
FNMA

Federal National Mortgage Association (a.k.a. "Fannie Mae")
GNMA

Government National Mortgage Association
GPM

Graduated Payment Mortgage
GPO

Guaranteed Purchase Offer
LTV

Loan to Value Ratio
MIP

Mortgage Insurance Premium
OTS

Office of Thrift Supervision
PITI

Principle, Interest, Taxes and Insurance
PMI

Private Mortgage Insurance
RAM

Reverse Annuity Mortgage
RESPA

Real Estate Settlement Procedures Act
SAM

Shared Appreciation Mortgage
SFR

Single Family Housing
VOD

Verification of Deposit
VOE

Verification of Employment
VRM

Variable Rate Mortgage



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Bankrate.com: Mortgages Headlines

A mortgage broker can be a big help on a land refinance that includes a so-called "story loan."

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Updated on November 21, 2006.