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See also:
HUD
Glossary
IFA Glossary
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Community Reinvestment Act (CRA) "enacted by Congress
in 1977 (12 U.S.C. 2901) and implemented by Regulations 12 CFR parts 25,
228, 345, and 563e, is intended to encourage depository institutions to
help meet the credit needs of the communities in which they operate. In
this section of the web site, you can find out more about the regulation
and it's interpretation and information on CRA examinations."
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financial literacy
involves having a basic understanding of income, savings, credit, investing
and debt management.
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manufactured homes is the generic name given by HUD
to homes which are produced in a factory, built on a metal undercarriage,
inspected by a third party inspector to meet national building code, and
towed to a site where it does not necessarily need a foundation.
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manufactured home lenders make relatively high interest
rate loans to borrowers purchasing mobile homes or prefabricated homes.
-
predatory lenders lend at extremely high interest
rates and load up loans with abusive terms and conditions that are not
necessary to cover the added risk of lending to borrowers with impaired
credit.
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subprime lenders make loans at interest rates that
are higher than the rates widely advertised by traditional, prime lenders.
The higher interest rates compensate subprime lenders for lending to borrowers
with less than perfect credit.
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::: RURAL HOMES REPORT ACRONYMS
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APR - Annual(ized) Percentage Rate
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CRA - Community Reinvestment Act
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HMDA - Home Mortgage Disclosure Act
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HUD - Department of Housing and Urban Development [HUD.gov]
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IFA - Iowa Finance Authority [IFAhome.com]
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LMI - Low to Moderate Income
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MSA - Metropolitan Statistical Area
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MUI - Middle to Upper Income
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NA - Not Applicable
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NCRC - National Community Reinvestment Coalition [NCRC.org]
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.pdf - Portable Document Format
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RHI - Rural Housing Institute [RuralHomes.org]
Home/Buying Acronyms
- list generated from various U.S. governmental .gov
websites and reports.
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APR - Annual(ized) Percentage
Rate
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ARM - Adjustable Rate Mortgage (see also: FRM)
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ATM - Automated teller machine
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BNA - Block Numbering Area
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CD - community development
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CDCs - community development corporations
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CDBG - Community Development Block Grant
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CFR - Code of Federal Regulations
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CLPI - Community Lender Partnership Initiative
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CMSAs - consolidated metropolitan statistical areas
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CRA - Community Reinvestment
Act
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ECOA - Equal Credit Opportunity Act
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EEM - Energy Efficient Mortgage
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FDIC - Federal Deposit Insurance Corporation [FDIC.gov]
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FFIEC - Federal Financial Institutions Examination
Council [FFIEC.gov]
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FHA - Fair Housing Act
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also: - Federal Housing Authority
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FHLM - (Freddie Mac) - Federal Home Loan Mortgage
Corporation
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FIPS - Federal Information Processing Standards
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FIRL - Fairness In Rural Lending
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FNMA - (Fannie Mae) - Federal National Mortgage Association
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FRM - fixed rate mortgage (see also: ARM)
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GNMA - (Ginnie Mae) - Government National Mortgage
Association
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GSE - Government Sponsored Enterprise
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HELP - Homebuyer Education Learning Program
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HIRE - Helping Iowa's Rural Economy
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HMDA - Home Mortgage Disclosure Act
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HOEPA - Home Ownership and Equity Protection Act
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HSOG - Homeless Shelter Operations Grant
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HUD - Department of Housing
and Urban Development [HUD.gov]
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HVAC - Heating, Ventilation
and Air Conditioning
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IDED - Iowa Department of Economic
Development
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IFA - Iowa Finance Authority
[IFAhome.com]
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IHOEP - Iowa Home Ownership
Education Project
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IRS - Internal Revenue Service
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also: Institution Register Summary
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LAR - Loan Application Register
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LHAP - Local Housing Assistance Program
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LIHTC - Low Income Housing Tax Credit Program
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LMI - Low to Moderate Income
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LTV - Loan-to-value ratio
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MAs - metropolitan areas
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MCSA - Muscatine's Center for Strategic Action
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MECAs - Modification, extension and consolidation
agreements
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MIP - Mortgage Insurance Premium
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MSA - Metropolitan Statistical Area
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MUI - Middle to Upper Income
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NA - Not Applicable
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NIC - National Information Center
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NCRC - National Community Reinvestment
Coalition [NCRC.org]
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NCUA - National Credit Union Administration [ncua.gov]
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NTIS - National Technical Information Services
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OCC - Office of the Comptroller of the Currency, Administrator
of National Banks [occ.treas.gov]
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OTS - Office of Thrift Supervision
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P&I - Principal & Interest
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PE - performance evaluation
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.pdf -
Portable Document Format
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PITI - Principal Interest Taxes and Insurance
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PMI - Private Mortgage Insurance
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PMSAs - primary metropolitan statistical areas
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RESPA - Real Estate Settlement Procedures Act
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RHI - Rural Housing Institute
[RuralHomes.org]
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RHBI - Rural Home Building Initiative
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TS - Transmittal Sheet
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USC - United States Code
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VA - Department of Veterans Affairs
Acronym clusters.
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MSA - Metropolitan Statistical Area
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CMSAs - consolidated metropolitan statistical areas
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PMSAs - primary metropolitan statistical areas
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MAs - metropolitan areas
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CFR - Code of Federal Regulations
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USC - United States Code
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CRA - Community Reinvestment
Act
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ECOA - Equal Credit Opportunity Act
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FHA - Fair Housing Act
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also: - Federal Housing Authority
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HMDA - Home Mortgage Disclosure Act
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HOEPA - Home Ownership and Equity Protection Act
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RESPA - Real Estate Settlement Procedures Act
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FHLM - (Freddie Mac) - Federal Home Loan Mortgage
Corporation
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FNMA - (Fannie Mae) - Federal National Mortgage Association
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GNMA - (Ginnie Mae) - Government National Mortgage
Association [GinnieMae.gov]
+ More Acronyms
Acronym inbox...
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RID - reporter's identification
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FRS - Federal Reserve System [FederalReserve.gov]
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FRB -
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USDA
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FHLB of Des Moines
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NHS of Des Moines
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ETA - Electronic Transfer Account []
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