ALT-A - A type of mortgage that sits between prime & sub-prime
ARM - Adjustable Rate Mortgage
BPO - Broker Price Opinion
CDO - Collateralised Debt Obligation
CMO - Collateralised Mortgage Obligation
EPD - Early Payment Default
FDIC - Federal Deposit Insurance Corporation
FNMA - Federal National Mortgage Association (Fannie Mae)
FHA - Federal Housing Administration
FHFA - Federal Housing Finance Agency
FHLMC - Federal Home Loan Mortgage Corporation (Freddie Mac)
GNMA - Ginnie Mae
HAMP - Home Affordable Modification Program
HASP – Homeowner Affordability & Stability Plan
HUD - UD Dept of Housing & Urban Development
H4H - Help for Homeowners
LTV - Loan to Value ratio
MBS - Mortgage Backed Security
NPM - Non-Performing Mortgage
Pay Option ARM A type of flexible, low start mortgage
PPIP - Public Private Investment Program
PRIME - A mortgage granted to borrowers with good credit history and low LTV
REO - Real Estate Owned (Name used for bank owned property)
TALF - Term Asset-Backed Security Loan Facility
TARP - Troubled Asset Relief Program
Sub-Prime A type of mortgage granted to borrowers with poor credit history, with high LTV and high lending multiples
Whole Loan - A CMO that is too large to be issued or guaranteed by Ginnie Mae, Freddie Mac, or Fannie Mae or in the secondary mortgage market - term that distinguishes an investment representing an original residential mortgage loan (whole loan) from a loan representing a participation with one or more lenders or a Pass-Through Security representing a pool of mortgages.

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