| ABA# |
American Bankers Assoc. number used to identify the bank on which a check is drawn by |
| ABA |
American Bar Association |
| A/H |
Abandonment of Homestead |
| AIR |
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| AIF |
Attorney in Fact. One who is appointed to act (as agent) for another (principal) under a general or limited Power or Attorney |
| AITD |
All-Inclusive Trust Deed. A junior loan with a face value of both the amount it secures and the balance due under the senior loan(s). |
| AKA |
Also Known As |
| ALTA |
American Land Title Association. An organization composed of title insurance companies adopting certain insurance policy forms to standardize coverage on a national basis. |
| APN |
Assessor’s Parcel Number |
| APR |
Annual Percentage Rate. The yearly interest percentage as expressed by the actual total interest paid. |
| B.F.P. |
Bona Fide Purchaser. A purchaser in good faith, for valuable consideration, without notice or knowledge of adverse claims of others. |
| BSS |
Bulk Sale Specialist. A designation earned through experience, education, and examination and given to a member of the California Escrow Association. |
| CAP |
The maximum amount of change in interest rate for ARM loan either at each adjustment or over the life of the Loan. |
| CAR |
California Association of Realtors ® |
| CC&R’s |
Covenants, Conditions and Restrictions. Restrictive limitations placed on real property. |
| CEI |
Certified Escrow Instructor. A designation earned through experience, education and examination and given to a member of the California Escrow Association. |
| CEO |
Certified Escrow Officer. A designation earned through experience, education, and given to a member of the California Escrow Association. |
| CET |
Certified Escrow Technician. A designation earned through experience, education, and examination and given to ta member of the California Escrow Association. |
| C.D. |
Certificate of Deposit. Funds deposited into a savings institution for a specific time period and interest rate if left to maturity. |
| CID |
Common Interest Development. |
| CLEO |
Certified Loan Escrow Officer. A designation earned through experience, education, and examination and given to a member of the California Escrow Association. |
| CP |
Community Property. |
| COE |
Close of escrow. Usually the date transfer documents and/or loan documents are recorded. |
| C/O |
Certificate of Occupancy. A Certificate issued by local building department stating the improvements is in a proper condition to be occupied. |
| CRB |
Certified Residential Broker. |
| CRV |
Certificate of Reasonable Value. A certificate issued giving the estimated value of real property for Veterans Administration purposes. |
| CSEO |
Certified Senior Escrow Officer. A designation earned through experience, education and examination and given to a member of the California Escrow Association. |
| CSLEO |
Certified Senior Loan Officer. A designation earned through experience, education, and examination and given to a member of the California Escrow Association. |
| DBA |
Doing Business As. An identification of the owner of a business and the business name. Not a partnership. Corporation of Limited Liability entity. |
| DR |
Deposit of Receipt of Purchase Contract between Buyer and Seller usually prepared by Broker. |
| DTT |
Documentary Transfers Tax. State (and some Cities) on the sale of real property based on the sales price or equity transferred. |
| EPA |
Environmental Protection Agency. |
| ET AL |
And Others |
| ET CON |
And husband. |
| ET UX |
And wife. |
| ET VIR |
And husband. |
| Fannie Mae |
Federal National Mortgage Association. See FNMA. |
| FHA |
Federal Housing Administration. A Federal agency which insures 1 T.D.s enabling lenders to make very high percentage of sales price. |
| FDIC |
Federal Deposit Insurance Corporation. A Federal Corporation which insures against loss of deposits in banks and savings associations. |
| FDT |
Fictitious Deed of Trust. |
| FHLMC |
AKA: Freddie Mac, Federal Home Loan Mortgage Corporation. A federal agency purchasing conventional and federal insured first loans from members of the Federal Reserve System. |
| FKA |
Formerly Known As. |
| FMV |
Fair Market Value. |
| FNMA |
AKA: Fannie Mae. Federal National Mortgage Association. A private corporation dealing in the purchase of first mortgages, at discounts. |
| Freddie Mac |
Federal Home Loan Mortgage Corporation. See FHLMC. |
| FTL |
Federal Tax Lien. A lien attaching to property for nonpayment of federal taxes. |
| GI |
General Index. A term used to identify lines filed against individuals of legal entities which may affect their real property. |
| Ginnie Mae |
Governmental National Mortgage Association. A federal association working with F.H.A. offering special assistance in obtaining loans and in purchasing loans in a secondary capacity. |
| GNMA |
AKA Ginnie Mae. Governmental National Mortgage Association |
| HMSTD |
Declaration of Homestead |
| HOA |
Home Owner’s Association. An association of people who own homes in a given are, formed for the purpose of improving and maintaining the quality of the area. |
| HUD |
Housing and Urban Development. A federal department responsible for the major housing programs in the United States, i.e.: FHA. |
| IBA |
Interest Bearing Account. Savings account opened by and controlled. Escrow Holder where principal in escrow receives interest earned. |
| INC |
Incorporated. |
| JT |
Joint Tenants |
| MM |
Married Man |
| MAI |
Member Appraisal Institute. A Designation given to a member of the American Institute of Real Estate Appraisers, earned through experience, education, and examination. |
| MW |
Married Woman. |
| NOW |
Negotiable Order of Withdrawal. An interest-bearing checking account which limits the amounts which can be withdrawn over a given period. |
| OP |
Other Property. |
| POA |
Power of Attorney. An authority by which one party enables another (Attorney in Fact) to act for him. |
| PAD |
A term used in preparing estimated statements where exact closing numbers are not available and where shortages or overages may be applied. |
| PIQ |
Property in Question. The real property covered by the Escrow instructions and/or Preliminary Report. |
| PITI |
Principal, Interest, Taxes, and Insurance. The four major portions used to indicate a usual monthly obligation. |
| PMI |
Private Mortgage Insurance. Insurance against a loss by a lender in the event of default by borrower. |
| POB |
Point of Beginning. Used in metes and bounds legal descriptions. |
| POC |
Paid Outside of Closing. Identification of costs and charges that are paid outside of the escrow. |
| PR |
Preliminary Report. Report showing the condition of title before a sale of loan transaction. After completion of the transaction, a title insurance policy is issued |
| PCOR |
Preliminary Change of Ownership Report |
| PRP |
Preliminary Responsible Person. A term used for those who may be responsible for environmental cleanup of a contaminated site. |
| PUD |
Planned Unit Development. A subdivision of five or more individually owned lots with one or more other parcels owned on common or with reciprocal rights to other parcels. |
| RECON |
Reconveyance, Full or Partial Reconveyance. |
| REG Z |
Regulation Z. Federal Reserve Regulation issued under the Truth in Lending Law, which requires that a credit purchaser be advised in writing of a costs connected with the credit portion of the purchase. |
| REIT |
Real Estate Investment Trusts. |
| REO |
Real Estate Owned. Most commonly refers to property owned by a lender from foreclosure. |
| RESPA |
Real Estate Settlement Procedures Act. A federal statue effective 6-20-1975, requiring disclosure of certain costs in the sale of a residential (one to four family) improved property which is to be insured by a federally insured lender. |
| RRM |
Renegotiable Rate Mortgage. A real property loan calling for an adjustment in the interest rate at a given time. |
| SI |
Statement of Information |
| SM |
Single Man |
| SAM |
Shared Appreciation Mortgage. A financing arrangement under which the lender offers a lower interest rate in return for a percentage of the appreciation when the property is sold. |
| SEC |
Securities and Exchange Commission. The federal agency which regulates the stock market. It gets involved in real estate when the real estate development is one which sells shares. |
| SSP |
Sole and Separate Property. |
| ST |
Substitution of Trustee. |
| SW |
Single Woman. |
| TCD |
Time Certificate of Deposit, AKA Certificate of Deposit. |
| TIL |
Truth in Lending, AKA Regulation Z. |
| UCC |
Uniform Commercial Code. A code (laws) which regulate the transfer of personal property. |
| VA |
Veterans Administration. Housing loans to veterans by various lenders insured by Veterans Administration. |