Selling Guide

Published June 3, 2020

The Selling Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Selling Guide in PDF format.

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E-1-02, Acronyms and Abbreviations (04/01/2020)


This topic contains definitions of acronyms and abbreviations used throughout this Guide.


Acronyms and Abbreviations

The table below provides a list of acronyms and abbreviations.

Acronym or Abbreviation Definition
ACH Automated Clearing House
ALTA American Land Title Association
AMC appraisal management companies
AMI area median incomes
APR annual percentage rate
ARM adjustable-rate mortgage
ASAP Plus As Soon As Pooled Plus
ASAP Sale As Soon As Pooled Sale
ASF American Securitization Forum
ATR ability to repay
AVM automated valuation model
BPO broker price opinion
bps basis points
CLTV combined loan-to-value
CMT Constant Maturity Treasury
condo unit in a condominium project
co-op unit in a cooperative project
CPI Consumer Price Index
CPIRT Construction-to-Permanent Investor Reporting
CPM Condo Project Manager
C-to-P construction-to-permanent mortgage loan
CU Collateral Underwriter
CUSIP Committee on Uniform Security Identification Procedures
DO Desktop Originator
DTI Debt-to-income ratio
DU Desktop Underwriter
EDI Electronic Data Interface
FAIR Fair Access to Insurance Requirement
FDIC Federal Deposit Insurance Corporation
FEMA Federal Emergency Management Agency
FHA Federal Housing Administration
FHFA Federal Housing Finance Agency
FHLBB Federal Home Loan Bank Board
FHLMC Federal Home Loan Mortgage Corporation
FRM fixed-rate mortgage
GAAP generally accepted accounting principles
GSE government-sponsored enterprise
HCLTV home equity combined loan-to-value
HELOC home equity line of credit
HFA Housing Finance Agency
HOA homeowners’ association
HOEPA Home Ownership and Equity Protection Act of 1994
HUD Department of Housing and Urban Development
IDR Independent Dispute Resolution
IRS Internal Revenue Service
LIBOR London Interbank Offered Rate
LLC limited liability company
LLPA loan-level price adjustment
LOS Loan Origination System
LPI last paid installment
LQC Loan Quality Center
LSDU Loan Servicing Data Utility
LTV loan-to-value
MBS mortgage-backed security
MERS Mortgage Electronic Registration Systems, Inc.
MI mortgage insurance
MIC mortgage insurance certificate
MIN MERS identification number
MSA metropolitan statistical area
MSSC Mortgage Selling and Servicing Contract
MUD municipal utility district
NCLTN National Community Land Trust Network
NCUA National Credit Union Administration
NPI Nonpublic personal information
OFAC Office of Foreign Assets Control
P&I principal and interest
PAL price-adjusted loan
PERS Project Eligibility Review Service
PITI principal, interest, taxes, and insurance
PITIA principal, interest, taxes, insurance, and other assessments
PUD planned unit development
RD Rural Development
REIT real estate investment trust
REMIC Real Estate Mortgage Investment Conduit
REO real estate owned
RHS Rural Housing Service
RPM rapid payment method
SEC Securities and Exchange Commission
SFC special feature code
SFHA Special Flood Hazard Area
SIFMA Securities Industry and Financial Markets Association
SMBS stripped mortgage-backed security
SOFR Secured Overnight Financing Rate
TBA to be announced
TILA Truth in Lending Act
T&I taxes and insurance
UCC Uniform Commercial Code
UETA Uniform Electronic Transactions Act
UPB unpaid principal balance
USPAP Uniform Standards of Professional Appraisal Practice
VA U.S. Department of Veterans Affairs

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