Independent Bankers Association of Texas Compliance Helpline 800.749.4228

Kelly Goulart, CRCM CAMS CIA Janie Daniel, CRCM CCBCO Senior Manager – Regulatory Compliance Regulatory Compliance Adviser [email protected] [email protected]

Compliance Tools INDUSTRY ACRONYMS AND ABBREVIATIONS

Acronym/ Definition Abbreviation A-6 Subsection (a)(6) of Section 50, Article XVI, Texas Constitution – the section relating to “home equity loans” ACH Automated Clearing ACORN The Association of Community Organizations for Reform Now Ad valorem According to the Value – generally used when referring to taxes ALLL Allowance for Loan and Losses ALTA American Land Title Association AMC Appraisal management company AMI Area Median Income AML Anti-Money Laundering AMORT Amortization APR Annual Percentage Rate APOR Annual Prime Offer Rate APY Annual Percentage Yield ARM Adjustable Rate Mortgage ARV After-Repaired Value ASAP Plus As Soon As Pooled Plus ASAP Sale As Soon As Pooled Sale ASF American Forum ASU Accounting Standards Update ATM Automated Teller Machine ATR Ability to Repay AVM Automated Valuation Model Barron sole An Unmarried Man Board Federal Reserve Board of Governors BO Beneficial Ownership (for CDD Rules) BO Buyer’s Opinion BPO Broker Price Opinion Bps Basis Points BSA Bank Secrecy Act

IBAT Compliance Tools: Industry Acronyms and Abbreviations April/2019 ⚫ Page 1 Acronym/ Definition Abbreviation CC&R or CCR Covenants, conditions & restrictions – often referred to as “restrictions” CD Certificate of Deposit CD or CLoD TRID: Disclosure CDA Commission Disbursement Authorization CDD Customer Due Diligence CDD Community Development District CECL Current Expected Credit Loss CFPB Consumer Financial Protection Bureau CFR Code of Federal Regulations CIP Customer Identification Program CLTA California Land Title Association CLTV Combined Loan-To-Value CMA Comparative Market Analysis CMT Constant Maturity Treasury COF or COFI Cost of Funds or Cost of Funds Index Condo Unit in a Project COO or ‘C of O’ Certificate of Co-op Unit in a Cooperative Project CPI Consumer Price Index CPIRT Construction-to-Permanent Investor Reporting CPM Condo Project Manager CRA Community Reinvestment Act CRCM Commonly known as Certified Regulatory Compliance Manager CRE Commercial CSBS Conference of State Bank Supervisors C-to-P Construction-to-Permanent CTR Cash Transaction Report CUSIP Committee on Uniform Security Identification Procedures DBA Doing Business As DCR or DSCR or Debt Service Coverage Ratio DSR DDA Demand Deposit Account DDL Daily Dollar Limit DO Desktop Originator DOB Department of Banking Dodd-Frank/DFA The Dodd-Frank Wall Street Reform and Consumer Protection Act DOS Due on Sale Clause DOT of Trust DTI Debt-to-Income Ratio DU Desktop Underwriter ECOA Equal Credit Opportunity Act (aka: Regulation B) EDD Enhanced Customer Due Diligence EDI Electronic Data Interface

IBAT Compliance Tools: Industry Acronyms and Abbreviations April/2019 ⚫ Page 2 Acronym/ Definition Abbreviation EFT/EFTA Electronic Funds Transfer/ Electronic Funds Transfer Act EIN Employer Identification Number EMC Earnest Money Contract E-SIGN Electronic Signatures in Global and National Commerce Act et al And Others et ux And Wife et vir And Husband FAIR Fair Access to Insurance Requirement FASB/FAS Financial Accounting Standards Board/Financial Accounting Standards FC Finance Commission of Texas FCA Farm Credit Administration FCRA Fair Credit Reporting Act FDIC Federal Deposit Insurance Corporation Fed Federal Reserve Board FEMA Federal Emergency Management Agency Feme sole An Unmarried Woman FFIEC Federal Financial Institutions Examination Council FHA Federal housing Administration FHFA Federal housing Finance Agency FHLBB Federal Home Loan Bank Board FHLMC Federal Home Loan Mortgage Corporation – known as FinCEN Financial Crimes Enforcement Network FIRPTA Foreign Investment in Real Act of 1980 FIRREA Financial Institutions Reform, Recovery, and Enforcement Act of 1989 FmHA Farmers Home Administration FMR Fair Market Rent FNMA Federal National Mortgage Association – known as Freddie Mac FRA Federal Reserve Act FR or FRB Federal Reserve Board FRM Fixed-Rate Mortgage FMV Fair Market Value FTC Federal Trade Commission FRS Federal Reserve System FSOB FSOC Financial Stability Oversight Council FTR Federal Trade Regulation GAAP Generally Accepted Accounting Principles GF Guaranty File GLB or GLBA Gramm-Leach-Bliley Act GNMA Government National Mortgage Association – known as Ginnie Mae GOA US Government Accountability Office GPEA Government Paperwork Elimination Act GPM Graduated Payment Mortgage

IBAT Compliance Tools: Industry Acronyms and Abbreviations April/2019 ⚫ Page 3 Acronym/ Definition Abbreviation GRM Gross Rate Multiplier GSE Government-Sponsored Enterprise HCLTV Home Equity Combined Loan-to-Value HE Home Equity HELOC Home Equity Line of Credit HFA Housing Finance Agency HMDA (hum-d’a) Home Mortgage Disclosure Act (Regulation C) HML Hard Money Lender HOA Home Owners Association HOEPA Home Ownership and Equity Protection Act of 1994 HUD US Department of Housing and Urban Development HUD1 / HUD1A Uniform Settlement Statements – under RESPA HVCRE Highly Volatile Acquisition, Development and Construction I/O Interest Only Loan ICB Loan Title Policy Binder on Interim Construction Loan (aka: Interim Binder) IOLTA Interest on Lawyer Trust Account IRA Individual Retirement Account IRR Internal Rate of Return IRS Internal Revenue Service JV Joint Venture LAR Loan Application Register (commonly used in HMDA) LE TRID: Loan Estimate London Interbank Offer Rate LLC Limited Liability Company LLP or LP Limited Liability Partnership LLPA Loan-Price Adjustment L/O Lease Option LOC Letter of Credit or Line of Credit LOI Letter of Intent LOMA Letter of Map Amendment ((National Act (NFIP)) LOMR Letter of Map Revision (National Flood Insurance Act (NFIP)) LOS Loan Origination System LP Loan Policy of LPI Last paid Installment LPOA Limited Power of Attorney LQC Loan Quality Center LTC Loan-to-Cost Ltd General Corporation (aka: Co, Inc, Corp or Ltd) LTV Loan-to Value MBS Mortgage-Backed Security MERS Mortgage Electronic Registration System MI MIC Mortgage Insurance Certification

IBAT Compliance Tools: Industry Acronyms and Abbreviations April/2019 ⚫ Page 4 Acronym/ Definition Abbreviation MIN MERS Identification Number MLS Mortgage Loan Service (banking) or (appraisals) MOA Maximum Allowable Offer MRA Matters Requiring Attention (common acronym used by the Office of the Comptroller of the Currency (OCC)) MSA Metropolitan Statistical Area MSB Money Services Business MSSC Mortgage Selling And Servicing Contract MTP Mortgagee Policy of Title Insurance (aka: LP or Loan Policy of Title Insurance) MUD Municipal Utility District NCLTN National Community Land Trust Network NCUA National Credit Union Administration NMLS Nationwide Mortgage Licensing System NPR Notice of Proposed Rulemaking NOI Net Operating Income NOO Non-Owner Occupied O/F Owner Finance OCAF Operating Cost Adjustment Factor OCC Office of the Comptroller of the Currency OCCC Office of Consumer Credit Commissioner ODM Online Data Manager System OEB Office of Employee Benefits OFAC Office of Foreign Assets Control OFR Office of Financial Research OIG or IG Office of Inspector General or Inspector General OMB Office of Management and Budget OO Owner Occupied OREO Other Real Estate Owned OTS Office of Thrift Supervision (no longer exist as of October 2011) P&I Principal and Interest PAL Price-Adjusted Loan PCA Prompt Corrective Action PCF Price to Cash Flow (ratio) PCS Payment, Clearing, and Settlement PERS Project Eligibility Review Service PIN Personal Identification Number PITI Principal, Interest, Taxes, and Insurance PITIA Principal, Interest, Taxes, Insurance and Other Assessments PLLL Provisions for Loan and Lease Losses PMI Private Mortgage Insurance POA Power of Attorney POC Paid Outside Closing POD Payable on Death

IBAT Compliance Tools: Industry Acronyms and Abbreviations April/2019 ⚫ Page 5 Acronym/ Definition Abbreviation POF Proof of Funds POS Point of Sale PUD Planned Unit Development QAS Quality Assurance System QCT Qualified Census Tract QFC Qualified Financial Contract QM or QRM Qualified Residential Mortgage RD Rural Development RECD Rural Economic and Community Development REIT Real Estate Investment Trust REMA Reasonably Expected Market Area (commonly used with CRA) REMIC Real Estate Mortgage Investment conduit REO Real Estate Owned RESPA Real Estate Settlement Procedures Act (Regulation X) RESPRO Real Estate Services Providers Council RHS Rural Housing Service ROFR Right of First Refusal ROI Return on Investment RPM Rapid Payment Method RTN Routing Number RTO Rent to Own S2155 Economic Growth, Regulatory Relief, and Consumer Protection Act (aka: EGRRCPA) S.A.F.E. Secure and Fair Enforcement for Mortgage Licensing Act SAR Suspicious Activity Report SBA Small business Administration SCRA Servicemembers Civil Relief Act SDN Specially Designated National SEC Securities and Exchange Commission SFC Special Feature Code SFH/SFR Single Family House/Single Family Residence SFHA Special Flood Hazard Area SHUD Secretary of Housing and Urban Development SIFI Systemically Important Nonbank Financial Institution SIFMA Securities Industry and Financial Markets Association SMBA Stripped Mortgage-Backed Security SOX Sarbanes-Oxley Act of 2002 STAT Report Texas Title Insurance Agents Statistical Report (now Experience Report) Sub2 Subject to existing financing T-00 Verification of Services Rendered T&I Taxes and Insurance TBA To be Announced TBD To be Determined TCAP Tax Credit Assistance Program

IBAT Compliance Tools: Industry Acronyms and Abbreviations April/2019 ⚫ Page 6 Acronym/ Definition Abbreviation TCEP Tax Credit Exchange Program TDB Texas Department of Banking TDC Total Development Cost TDHCA Texas Department of Housing and Community Affairs TDI Texas Department of Insurance TIL or TILA Truth-in-Lending Act (aka: Regulation Z) or Truth-in-Lending Statement TIN Tax Identification Number TLTA Texas Land Title Association Treasury Department of Treasury TRID TILA-RESPA Integrated Disclosure Rule TUTMA Texas Uniform Transfers to Minors Account UCC Uniform Commercial Code UCC-1 Unified Commercial Code 1 Form UETA Uniform Electronic Transaction Act UPB Unpaid Principal Balance USA Patriot Act or Uniting and Strengthening America by Providing Appropriate Tools Required to Patriot Act Intercept and Obstruct Terrorism Act of 2001 USDA US Department of Agriculture USPAP Uniform Standards of Professional Appraisal Practice UTMA Uniform Transfers to Minors Act VA Department of veterans Affairs

Additional Resource Recommendation: American Banker: Banker’s Glossary: https://www.americanbanker.com/glossary/a.html

© Independent Bankers Association of Texas, Austin, Texas, 2018. All rights reserved. This document is intended to convey general information only and not to provide legal advice or opinions. This document (and the posting and viewing of the information on the IBAT website) should not be construed as legal advice, may not be current and is subject to change without notice.

Materials and resources provided are for informational purposes and are NOT intended as legal, accounting, or other professional advice. If such advice is required, users should consult with their own professional advisor. Users should always confirm materials and resources from IBAT or anyone else through independent due diligence. IBAT is NOT responsible for any misuse or alterations made to materials and resources provided for informational purposes.

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