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Alphabet Soup

Alphabet

A, B, C, D, E, F, G, ... next time won't you sing with me.

Remember the alphabet song that we taught to our children? Well, I have a whole new set of alphabet letters that go together in our real estate world. How many of these do you know?

ARM GEM LTV FICO
LIBOR SRES AHWD CRB
CCIM UFFI GRI CRS
CRV CLO CRA RESPA
RAM EIS PCBs CFCs
NAR DAR SCAOR KCAR
NCCBOR

MORTGAGE TERMS
ARM - Adjustable Rate Mortgage
GEM - Growth Equity Mortgage
LTV - Loan to Value
FICO - Fair Isaac Corporation - Credit Score
LIBOR - London Interbank Offered Rate
RESPA - Real Estate Settlement Procedures Act
RAM - Reverse Annuity Mortgage
CRV - Certificate of Reasonable Value - VA appraisal
CLO - Computerized Loan Origination
CRA - Community Reinvestment Act of 1977

PROFESSIONAL DESIGNATIONS
SRES - Senior Real Estate Specialist - Designation
AHWD - At Home With Diversity - Designation
CRB - Certified Residential Brokerage Manager - Designation
CCIM - Certified Commercial Investment Manager - Designation
GRI - Graduate, REALTOR® Institute - Designation
CRS - Certified Residential Specialist - Designation

ENVIRONMENTAL
UFFI - Urea Formaldehyde Foam Insulation
EIS - Environmental Impact Statement
PCBs - Polychlorinated biphenyls - found in fluorescent light ballasts
CFCs - Chlorofluorocarbons - found in air conditioners & refrigerators

REALTOR® ORGANIZATIONS
NAR - National Association of REALTORS®
DAR - Delaware Association of REALTORS®
SCAOR - Sussex County Association of REALTORS®
KCAR - Kent County Association of REALTORS®
NCCBOR - New Castle County Board of REALTORS®

And the list goes on and on.

See you next week.

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Last Modified 30 October 2008.