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REVERSE MORTGAGE INFORMATION: Tools, News and Resources to Help Seniors Decide

Glossary

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  • TALC - Total Annual Loan Cost
  • HECM - Home Equity Conversion Mortgage
  • FHA - Federal Housing Administration
  • OFHEO - Office of Federal Housing Enterprise Oversight
  • LTC(i) - Long-Term Care (insurance)
  • MIP - Mortgage Insurance Premium
  • AARP - Formerly, American Association of Retired Persons
  • NRMLA - National Reverse Mortgage Lenders Assocation
  • LOC - Line of Credit
  • CRA - Community Reinvestment Act
  • Origination Fee
  • Fannie Mae
  • Appraisal
  • DPL - Deferred Payment Loan
  • LIBOR - London InterBank Offering Rate
  • Negative Amortization
  • RAM - Reverse Annuity Mortgage
  • Non-Recourse
  • Recission (Right of)
  • GFE - Good Faith Estimate
  • PLP - Principal Limit Factor
  • AFR - Applicable Federal Rate
  • T-rate Index - Treasury Rate Index
  • NRA-Normal Retirement Age
  • EEA-Earliest Eligibility Age
  • PIA-Primary Insurance Amount
  • NRRI - National Retirement Risk Index
  • NAMB - National Association of Mortgage Brokers
  • Inverse Mortgage
  • AIME-Average Indexed Monthly Earnings
  • PLL - Principal Limit Lock
  • HPI - House Price Index
  • HMBS - HECM Mortgaged Backed Securities
  • REVERT TO THE MEAN
  • What if your annuity runs out?

 
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