Second Life Online Game (which has a virtual Real Estate market)
See Piggy-back Loan
Synthetic asset-backed security
Alan Greenspan (former Federal Reserve chairman)
A “less than prime” mortgage quality designation.
Adjustable Rate Mortgage
Arizona State University
Person left holding the bag on some asset after its value has fallen.
Bank of America
Bank of Japan
See Housing Bubble
A person who follows the housing bubble.
California Association of Realtors
Central Bank of China
Credit default swap
Canadian International Development Agency
Comparable property used for appraisal purposes.
Calculated Risk Blog
David Leerah (NAR Chief Economist)
see Housing Doom Blog
Federal National Mortgage Association (a GSE)
Financial Accounting Standards Board
Federal Deposit Insurance Corporation
Board of Governors of the Federal Reserve System
Federal Housing Administration
Federal Housing Finance Agency
US Federal Finance Board (regulator of the FHLBs
US Federal Home Loan Banks (“baby” GSEs
A speculator who buys a house in order to sell it quickly for a profit.
Federal Home Loan Mortgage Corporation (a GSE)
A property that is for sale by owner
Greater Las Vegas Association of Realtors
Government Sponsored Enterprise
A periodically occurring economic bubble caused by the artificial inflation (and subsequent contraction) of home prices.
U.S. Department of Housing and Urban Development
Expectation the U.S. Congress will bait out defaults of agency debt.
Canadian Ecumenical Justice Initiatives, a Canadian faith-based ecumenical organization.
London Interbank Offered Rate, a daily reference based on the interest rates at which banks offer to lend unsecured funds to other banks in the London wholesale money market
Loan to Value ratio
Mortgage Bankers Association
Mortgage Interest Deduction
Multiple Listing Service
National Association of Home Builders
National Association of Realtors
National Association of Securities Dealers Automated Quotations
A mortgage other than a fully amortizing loan to a borrower with good credit.
New York Times
Office of the Comptroller of the Currency (charters, regulates, and supervises all national banks)
Office of the Federal Housing Enterprise Oversight (regulator of F&F)
A borrower makes 20% down payment to avoid PMI, then takes out the second (piggy-back) loan to cover initial down payment.
The Professional Institute of the Public Service of Canada, a Canadian public service workers union.
Private Mortgage Insurance
NAR registered trademark and branding of their Real Estate Agents
Real Estate Investment Council
Real Estate Owned
Real Estate Settlement Procedures Act
Residential Mortgage-Backed Security
U.S. Securities and Exchange Commission
Statement of Financial Accounting Standards (one of the ways that FASB designates its numbered accounting rules)
A sub-prime lender is one who lends to borrowers who do not qualify for loans from mainstream lenders. A sub-prime borrower is one who cannot qualify for prime financing terms.
See Non-traditional mortgage
Troubled Asset Relief Program
See Non-traditional mortgage
Washington Mutual Bank
Wall Street Journal