My buyer agent, Kristen Houston, asked me to share this on my Active Rain Blog. We hope you find this to be useful information.
Talk the Talk
Real Estate Acronyms and Abbreviations
By Kristen Houston - The Powell Team
Knowing the lingo is important when buying or selling your home. Many real estate agents are so used to using acronyms in every transaction that they forget most people have no idea what they are referring to. In addition, recent federal updates to settlement and closing procedures have changed many of the standard documents. So you may hear different people you are working with {lender, real estate agent, closing attorney, etc.} use a mixture of old and new terms throughout your transaction.
Here are some acronyms that you will most like hear in reference to loan application, settlement and closings:
CFPB: Consumer Financial Protection Bureau
TILA: Truth in Lending Act
RESPA: Real Estate Settlement Procedures Act
TRID: TILA-RESPA Integrated Disclosure
HUD: Department of Housing and Urban Development
HUD-1 Settlement Statement **Still used in cash transactions**
CD: Closing Disclosure **Replaced HUD-1 Settlement Statement in financed residential transactions**
BCD: Buyer Closing Disclosure
SCD: Seller Closing Disclosure
ALTA: American Land Title Association
ALTA Settlement Statement – Combined
GFE: Good Faith Estimate
LE: Loan Estimate **Replaced Good Faith Estimate**
Types of financing:
FHA: Federal Housing Administration
VA: Veterans Administration
USDA: United States Department of Agriculture
CONV: Conventional
FNMA: Federal National Mortgage Association ** Fannie Mae**
FHLMC: Federal Home Loan Mortgage Corporation **Freddie Mac**
GNMA: Government National Mortgage Association ** Ginnie Mae**
ARM: Adjustable Rate Mortgage
FRM: Fixed Rate Mortgage
HELOC: Home Equity Line of Credit
Other acronyms that you could hear in reference to your transaction:
MLS: Multiple Listing Service **Database used by Realtors to collect and share property listings**
HOA: Home Owner’s Association
HOI: Home Owner’s Insurance
CMA: Comparative Market Analysis
FSBO: For Sale by Owner
FROG: Finished Room Over Garage
Contact The Powell Team today if we can assist in your real estate transaction!
And then theres the MLS words like FROG ( finished room over garage ) and the mix of letters we put behind our names ABR CRS etc ...like most buyers even can begin to understand ! LOL 
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