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MEG0008 Approved Acronyms

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MEG0008 Approved Acronyms
 
Draft Date 3/31/2009
 

1. Introduction

The XML documents created as part of Real Estate Finance transactions will be created and processed by systems. However, they should be human readable. The Schema files are primary documentation to the designers of the systems that create and process the XML documents. It is helpful to human readers of both documents that the names of data points have meaning specifically centered around the use of acronyms.

1.1 Audience

Designers of systems that create and consume the XML instance documents used in Real Estate Finance transactions

1.2 Terminology

The key words “MUST”, “MUST NOT”, “REQUIRED”, “SHALL”, “SHALL NOT”, “SHOULD”, “SHOULD NOT”, “RECOMMENDED”, “MAY”, and “OPTIONAL” in this document are to be interpreted as described in RFC 2119. See «add reference to MISMO glossary for terminology used in this MEG».

1.3 Document Status

The information supplied in this document reflects the MISMO interoperability principles at the time of writing. It is a living document, which will be updated as required to reflect the evolving nature of XML technologies and service requirements identified by MISO constituency. Comments on this document should be sent to the MISMO designated contact identified in the document preface.

2. Rationale for this MEG

Provide guidance on the consistent usage of acronymns within the MISMO data standards.
 
Content
 

Guidelines

Ref Guideline
8.1 The use of an abbreviation in the term name, enumerated value or their definitions SHALL be prohibited.
8.2 The use of an acronym in the term name or enumerated value SHALL be limited to those that are included in the “Approved Acronyms” table below.

Only those acronyms recommended to and approved by Core Data Structures and the Architecture Workgroup SHALL be included on that list.

Acronyms are words formed using the first letter of each word in a longer name.
8.3 For inclusion on the “Approved Acronyms” list an acronym SHOULD meet one or more of the following criteria:

1) The acronym is commonly understood and widely used on a regular basis within a particular business process area or within the industry as a whole. In many cases the acronym may be more familiar to the industry than its underlying meaning.

Example:
LIBOR – is almost always used rather than the fully spelled out name, London Interbank Offered Rate.

2) The word group represented by the acronym will be used very frequently within the Logical Data Dictionary. Because of the high repetition, the use of an acronym may help to significantly reduce file size.

Example:
MI – acronym for Mortgage Insurance that is very frequently used in LDD entries.
8.4 All approved acronyms SHALL be represented in the term name, enumerated value or their respective definitions in all capital letters. Also, if two acronyms appear in sequence, and underscore is placed in between then for the data tag name

Example:
MSA Identifier –> MSAIdentifier
Seller Paid FHA VA Closing Costs Percent –> SellerPaidFHA_VAClosingCostsPercen
FHA MI Premium Refund Amount –> FHA_MIPremiumRefundAmount
8.5 An acronym that is not approved MAY be used in a definition if it is spelled out and defined upon first use within the definition. After initial definition, it then can be used as an acronym throughout the rest of that definition.

Approved Acronyms

Acronym Definition
ABA American Bankers Association
ACH Automated Clearing House
ALTA American Land Title Association
APO Army Post Office
APR Annual Percentage Rate
ARM Adjustable Rate Mortgage
AVM Automated Valuation Model
CAIVRS Credit Alert Interactive Voice Response System
CBRA Coastal Barrier Reform Act
CLTA California Land Title Association
CUSIP Committee on Uniform Security Identification Procedures
E Electronic (as in E Mortgage)
FACTA Fair And Accurate Credit Transaction Act
FDIC Federal Deposit Insurance Corporation
FEMA Federal Emergency Management Agency
FHA Federal Housing Administration
FHFB Federal Housing Finance Board
FHLBB Federal Home Loan Bank Board
FICO Fair Isaac & Company
FIRM Flood Insurance Rate Map
FIPS Federal Information Processing Standard
FNM Fannie Mae
FPO Fleet Post Office
FRB Federal Reserve Board
FRE Freddie Mac
GFE Good Faith Estimate
GNMA Government National Mortgage Association
GSE Government Sponsored Enterprise
HELOC Home Equity Line of Credit
NFIP National Flood Insurance Program
HOEPA Home Ownership and Equity Protection Act
HMDA Home Mortgage Disclosure Act
HUD Housing and Urban Development
IRA Individual Retirement Account
IRS Internal Revenue Service
LIBOR London Interbank Offered Rate
LOMA Letter Of Map Amendment
LOMR Letter Of Map Revision
LTV Loan To Value
MBS Mortgage Backed Security
MERS Mortgage Electronic Registration Systems
MI Mortgage Insurance
MIME Multipurpose Internet Mail Extensions
MIN Mortgage Identification Number
MIP Mortgage Insurance Premium
MISMO Mortgage Industry Standards Maintenance Organization
MSA Metropolitan Statistical Area
NADA National Automobile Dealers Association
NSF Not Sufficient Funds
OFAC Office of Foreign Assets Control
OTS Office of Thrift Supervision
NFIP National Flood Insurance Program
PITI Principal, Interest, Taxes and Insurance
PUD Planned Unit Development
REO Real Estate Owned
RESPA Real Estate Settlement Procedures Act
SFDMS Single Family Default Monitoring System
SMART Securable Manageable Archivable Retrievable Transferable
SSN Social Security Number
TLTA Texas Land Title Association
UPB Unpaid Principal Balance
URLA Uniform Residential Loan Application
US United States
USA United States of America
USPAP Uniform Standards of Professional Appraisal Practice
URI Uniform Resource Identifier
UST United States Treasury
VA Veterans Administration
WSJ Wall Street Journal
XML Extensible Markup Language
XPATH XML Path as defined by the XPATH 2.0 standard
 
 
Metadata
 
Version 1.0
12/9/2008
 
Release History
Date Release Comments
9/25/2006 .01 Initial Version
4/9/2008 .02 Applied new MEG format and clarified a couple sections
4/18/2008 .03 Updates per 4/17 D3 call
6/6/2008 .04 Updates per 5/15 D3 call (use of acronyms in definitions)
9/3/2008 .05 Updates and format changes
12/9/2008 1.0 Approved by MISMO Governance Committee
12/15/2008 1.0 Updated contents of Disclaimer tab.

Changes Since Last Version
See above

Known Omissions
None

Contacts
Name Organization Contact Details
MISMO Staff MISMO info@mismo.org

Metadata
Element Description
Title MISMO Approved Acronyms
Identifier MEG0008
Category Convention
Publisher MISMO
Rights Copyright of MISMO. All rights reserved.
Date Created 9/23/2006 12:35 PM
Date Modified 12/9/2008 5:00 PM

References

 
Comments
 
 
 
Disclaimer
 
Disclaimer. MISMO® accepts no liability for the accuracy, adequacy, or completeness of the information contained in this MISMO Engineering Guideline (MEG).

Circulation. Material in this MEG may be reproduced free of charge without obtaining explicit permission from MISMO, provided that the source is acknowledged, the document title given, and the material used in context.

Copyright 2008 MISMO. All material in this MEG is the property of MISMO. All rights reserved.

 
 

Last modified at 8/13/2010 9:56 AM  by PROD-SPOINT\administrator