AZ Real Estate Acronyms Flashcards

AZ Real Estate Acronyms Flashcards VAVeterans administration, loans which are guaranteed by the VA. The VA sets own rates.EPAEnvironmental Protection Agency ADAAmericans with Disabilities Act OSHAOccupational Safety and Health Administration.ALTAAmerican Land Title Association DUSTdemand, utility, scarcity, transferability PMIPrivate Mortgage Insurance, is Insurance required by the lender is in non-government backed loans CC&RsCovenants Conditions, and Restrictions. The basic rules for a condo or subdivision MIPMortgage Insurance Premiums, endure the mortgage or trust deed against default EEOCEqual Employment Opportunity Commission NRCSNatural Resource Conservation Service HUDHousing and Urban Development HOAHome Owners Association - Governing body of a community.FEMAFederal Emergency Management Agency TILATruth in Lending Act - Reg Z. Requires lenders to reveal total cost of loan and APR.CERCLA aka SuperfundComprehensive Environmental Response, Compensation, and Liability Act. Enacted in 1980 funds cleaner for hazardous waste sites.NOINet Operating Income RESPAReal estate settlement procedures act. Requires information on all settlement costs a real estate transaction.ECOAEqual Credit Opportunity Act. This disallows discrimination in extending credit FHAFederal housing administration, loans which are federally insured against default.FDICFederal Deposit Insurance Corporation APRAnnual Percentage Rate