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Cheryl's Blog

Talk the Talk- Real Estate Acronyms and Abbreviations

My buyer agent, Kristen Houston,  asked me to share this on my Active Rain Blog.  We hope you find this to be useful information.


Talk the Talk

Real Estate Acronyms and Abbreviations

By Kristen Houston - The Powell Team


Knowing the lingo is important when buying or selling your home.  Many real estate agents are so used to using acronyms in every transaction that they forget most people have no idea what they are referring to.  In addition, recent federal updates to settlement and closing procedures have changed many of the standard documents.  So you may hear different people you are working with {lender, real estate agent, closing attorney, etc.} use a mixture of old and new terms throughout your transaction.


Here are some acronyms that you will most like hear in reference to loan application, settlement and closings:

CFPB: Consumer Financial Protection Bureau

TILA: Truth in Lending Act

RESPA: Real Estate Settlement Procedures Act

TRID: TILA-RESPA Integrated Disclosure

HUD: Department of Housing and Urban Development

            HUD-1 Settlement Statement **Still used in cash transactions**

CD: Closing Disclosure **Replaced HUD-1 Settlement Statement in financed residential transactions**

            BCD: Buyer Closing Disclosure

            SCD: Seller Closing Disclosure

ALTA: American Land Title Association

            ALTA Settlement Statement – Combined

GFE: Good Faith Estimate

LE: Loan Estimate  **Replaced Good Faith Estimate**


Types of financing:

FHA: Federal Housing Administration

VA: Veterans Administration

USDA: United States Department of Agriculture

CONV: Conventional

FNMA: Federal National Mortgage Association ** Fannie Mae**

FHLMC: Federal Home Loan Mortgage Corporation **Freddie Mac**

GNMA: Government National Mortgage Association ** Ginnie Mae**

ARM: Adjustable Rate Mortgage

FRM: Fixed Rate Mortgage

HELOC: Home Equity Line of Credit


Other acronyms that you could hear in reference to your transaction:

MLS: Multiple Listing Service **Database used by Realtors to collect and share property listings**

HOA: Home Owner’s Association

HOI: Home Owner’s Insurance

CMA: Comparative Market Analysis

FSBO: For Sale by Owner

FROG: Finished Room Over Garage


Contact The Powell Team today if we can assist in your real estate transaction!





Dave Liniger's Top 10 Housing Predections for 2013...was he right?


Here we are at the beginning of another year, a time to reflect on the past year and make plans for the year to come.  Most would agree that 2013 was a year of great improvement in the US Real Estate market and are hopeful that 2014 will be a year of continued improvement.

While reflecting upon the last year in Real Estate I ran across this video by Dave Liniger,  Remax Co-Founder & Chairmain of the Board, where he discusses his "Top 10 Housing Predictions for 2013".  I watched it when it first came out, but now that 2013 is drawing to a close, it was very intesting to listen to his predictions again. 

I think Dave was right on the money with most of his predictions for 2013. What do you think & what are your predictions for the 2014 real estate market?


Contact me anytime if you are in the market to buy or sell real estate anywhere in the Charlotte NC area.  I'd love to help you reach your real estate goals!

Cheryl Powell- The Powell Team- Remax Executive Realty

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When can I get another mortgage after bankruptcy-short sale-foreclosure?

If you or someone you know have had financial challenges such as a bankruptcy, foreclosure, short sale, deed in lieu of foreclosure or consumer credit counseling, you may be wondering WHEN CAN I GET ANOTHER MORTGAGE?  I get this question almost daily, so thought I would share this chart with you.  This criteria is subject to change, because various loan programs change their guidelines often, but as of today this is good information provided by a loan officer I know. 

I'd love to help you throughout the process of working on your credit and achieving your goal of purchasing a home, so contact me anytime if I can help!  I look forward to speaking with you soon.


Mortgage waiting periods after bankruptcy, foreclosure & short sale.



Cheryl Powell

ABR, SFR, Broker, Realtor

The Powell Team
RE/MAX Executive Realty
Mobile: 704-363-8902

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Cheryl is the most amazing agent to work with! Since I have worked with her I have recommended her every single time a friend of mine mentioned plans to buy a house. Cheryl is kind and understands her customers needs. Not many agents care about the purchaser actually being happy and Cheryl makes sure her clients are! She went above and beyond for me so that I could move into my house on the day planned, traveling more in one day than anyone could expect from her- just to get my paperwork filed. She was always patient and honest when she felt a house didn't fit my lifestyle and I truly love the decision I have made. Cheryl is more than an agent, she is the person you can trust trhoughout the process - a true partner. I would recommend her any day! Kirsten Hobley
We actually starting looking for realtors starting in 2010 and through it all we found the best in realty. Cheryl Powell answered all of our questions even though we were just looking at that time. In 2012, we contacted Cheryl for her assistance in purchasing a home. We needed someone who knew about the programs out there to assist us here in North Carolina. Cheryl provided us service from beginning to the time of closing. After closing we still like to stay in contact to let her know we are thinking of her. When anyone states they are in the process or need information about purchasing, I refer Cheryl Powell. K. McGriff
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