Acronyms

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Acronym	Meaning	Definition
AC	Active Component	Full time occupation as part of the military also called active duty.
ACE	Automated Certificate of Eligibility	Used in cases where the subject Veteran does not have an approved COE in the system or in cases where the approved COE requires correction.
ADSEP	Administrative Separation	Depending on the service branch, separation is due to a variety of reasons such as non-performance of duties, insubordination, poor duty performance, drug use, weight issues, etc.
AD/ADSM	Active Duty or Active Duty Servicemember	See Active Component
AFB/AB	Air Force Base / Air Base	Air Force military installation
AIME	Association of Independent Mortgage Experts	Non-profit, national trade membership association created for independent mortgage brokers.
AIT	Advanced Individual Training	Army initial skills training varies depending on occupation and is a temporary duty assignment.
AML/BSA	Anti-Money Laundering /Bank Secrecy Act	Series of laws and regulations enacted to combat money laundering and the financing of terrorism.
AMP	Accredited Mortgage Professional	Special designation for graduates of the Mortgage Bankers Association Educations’ School of Mortgage Banking.
ARM	Adjustable Rate Mortgage	A home loan with a variable interest rate.
ARU	Accredited Residential Underwriter	MBA-certified financial expert responsible for reviewing and conducting research to ensure an applicant(s) represent themselves truthfully and to get a sense of the applicant's finances.
AUS	Automated Underwriting System	A computer program that instantly evaluates a buyer’s eligibility based on a variety of factors.
BAH	Basic Allowance for Housing	An allowance paid to military members based on geographic location, pay grade, and dependency status, is designed to provide housing compensation based on housing costs in each local market. See MQA (Military Quarters Allowance).
CAIVRS	Credit Alert Interactive Voice Response System	A system that lenders use to run a borrower’s information through before processing a loan. The purpose of the system is to indicate if a borrower is presently delinquent or if HUD has paid a claim on a loan the Borrower had in the previous three years which was insured by HUD.
CC/CDR	Commander	A person of authority over a body of troops or military operation. (Civilian Equivalent of a CEO).
CO	Commanding Officer	Same as CDR, an officer in command of a military unit (organization).
COA	Course of Action	A procedure adopted to deal with a situation.
COE	Certificate of Eligibility	A document that shows proof that an applicant has successfully completed the VA’s military service requirement for loan eligibility.
COLA	Cost of Living Allowance	Entitlement paid to veterans to help offset the cost of living in higher-cost areas.
CONUS	Continental United States	Veterans receive assignments to duty locations within the continental U.S. also known as the lower 48.
COS	Character of Service	Used to determine veterans’ eligibility for VA benefits after they have served their term in the military.
CPA	Certified Public Acountant	A member of an officially accredited body of accountants.
CRU	Certified Residential Underwriter	An underwriter certified by a credentialing body.
DLA	Dislocation Allowance	A one-time payment that partially reimburses a service member for expenses incurred when moving a household.
DIC	Dependency Indemnity Compensation	A tax-free monetary benefit paid to eligible survivors of military Service Members who died in the line of duty or eligible survivors of Veterans whose death resulted from a service-related injury or illness.
DoD	Department of Defense	An executive branch department of the federal government is charged with coordinating and supervising all agencies and functions of government concerned directly with national security and the United States.
DU	Desktop Underwriter	An automated underwriting system developed by Fannie Mae to help mortgage lenders make informed credit decisions on conventional and government loans.
EAOS	End of Active Obligated Service/ Active Service	The end of a period of active-duty service commitment.
ECOA	Equal Credit Opportunity Act	ECOA prohibits mandatory inclusion of a spouse's income unless being contractually obligated on the loan. "Always inform the borrower (and spouse, if applicable) that they do not have to divulge information on the receipt of child support, alimony, or separate maintenance. However, for this income to be considered in the loan analysis, it must be divulged and verified. Income cannot be discounted because of sex, marital status, age, race, or other prohibited bases under ECOA.
EDI	Electronic Interchange Data	Enables participating lenders to electronically submit a loan to VA for guaranty AND receive an electronically guaranteed Loan Guaranty Certificate (LGC).
EPO	Early Pay-off	A clause provided in a loan payment program in which the borrower can pay off a loan prior to the loan termination date.
ETS	Expiration Term of Service	A date in each military member's contract, the date is when the service member's current contract expires unless granted an extension, reenlistment, etc. they are to be relieved of their service obligation on this date.
FDIC	Federal Deposit Insurance Corporation	An independent agency created by Congress to maintain stability and public confidence in the nation’s financial system.
FOB	Forward Operating Base	Any secured forward operational level military position, commonly a military base, that is used to support strategic goals and tactical objectives.
GEM	Growing Equity Mortgages	GEM is a variation on a fixed-rate mortgage where additional principal payments are pre-scheduled and increase over time, often at 5% a year. The additional payments allow the mortgage to be paid off quicker and with lower total interest payments.
GI BILL	Montgomery GI Bill also Post 9-11 GI Bill	A program that helps service members and veterans meet their education and training costs with monthly benefit payments.
GNMA	Government National Mortgage Association (Ginnie Mae)	A federal government corporation that guarantees the timely payment of principal and interest on mortgage-backed securities (MBSs) issued by approved lenders. The association is commonly known as Ginnie Mae and is abbreviated to GNMA.
GPM	Graduated Payment Mortgage	A graduated payment mortgage is a loan where the payment increases each year for a predetermined amount of time (such as 5 or 10 years), then becomes fixed for the remaining duration of the loan.
HELOC	Home Equity Line of Credit	A line of credit is given to a person using their property as collateral. A type of loan in which a lender authorizes the borrower access to loan funds as needed up to a specified maximum amount.
HHG	Household Good	The goods and products used within households of Veterans (their belongings), when transferring from one assignment to another veteran are typically authorized for the movement of HHGs at the government’s expense.
HOR	Home of Record	A Veteran’s state when they initially joined the military. For Veteran’s joining from overseas locations, Veterans typically have the option to select their HOR if they have an address (usually a stateside family member).
HYT	High Year Tenure	High Year Tenure (HYT) is a term used by the United States Armed Forces to describe the maximum number of years an enlisted member may serve at a given rank without achieving promotion before they must separate or retire. HYT is applicable to enlisted of all six military branches of the United States.
IRR	Individual Ready Reserve	An inactive portion of the military consists of former active duty and reserve personnel. Can be activated for short assignments like Reservists.
IRRRL	Interest Rate Reduction Refinancing Loan	Streamline Refinancing Loans are used to refinance an existing VA loan at a lower interest rate.
JAG	Judge Advocate General	An officer in supreme control of the courts-martial of one of the armed forces.
JTF	Joint Task Force	A multi-service ad hoc military formation.
JTR	Joint Travel Regulations	Department of Defense implemented policy and law established for military travel and transportation allowances for all military members and their families.
LAPP	Lender Appraisal Processing Program	The purpose of the program is to speed up the time to loan closing by allowing VA-authorized lenders to receive appraisal reports directly from appraisers and process them without VA involvement.
LES	Leave and Earnings Statement	For Active Military borrowers, you would use an LES pulled from MyPay instead of a VOE.
LGC	Loan Guaranty Certificate	The obligation of the United States to pay a specific percentage of an Eligible Loan (subject to a maximum amount) upon default of the Mortgagor under the Servicemen’s Readjustment Act, as amended.
LGXpress	Loan Guaranty Express	Electronic Data interchange system for small and medium sized lenders.
LIN	VA Loan Identification Number	A number is assigned to each loan by VA at the time the appraisal or IRRRL is requested. Use this number electronically in VA systems or when requested on VA Forms.
LOS	Length of Service	The amount a time a military member has served or will serve under past and current contracts.
MBA	Mortgage Bankers Association	A national association that represents the real estate finance industry.
MEB	Medical Evaluation Board (interchangeable with PEB)	An informal board comprised of physician that evaluates and makes decisions on a military members’ physical/mental suitability for service.
MPR	Minimum Property Requirements	VA requirements exist to establish whether a property has the necessities that make it safe.
MyPay	Military Pay Web-based System	Web based system where veterans can download their LES, RAS, etc.
NAS	Naval Air Station	Military naval base.
NCUA	National Credit Union Administration	The agency charters and supervises federal credit unions and insures savings in federal and most state-chartered credit unions.
NOV	Notice of Value	Establishes the estimated reasonable value of the property and includes a list of conditions and requirements that must be satisfied for the property to be eligible for a VA loan guaranty.
NPS	Non-purchasing spouse	A spouse that is not on the Veteran’s mortgage loan.
OCONUS	Outside Continental United States	Veterans receive assignments to duty stations outside of the continental U.S. including Alaska and Hawaii. These Veterans receive additional allowances based on the duty station assigned.
OCS	Officer Candidate School	Entry level training school for aspiring military officers (Army, Marine Corps, Navy, Coast Guard).
OTC	One Time Close Construction Loan	VA OTC loan permits the borrower to apply for a single loan that will be able to cover the lots’ financing and the actual construction of the home.
OTS	Officer Training School	Entry level training school for aspiring military officers
POA	Power of Attorney	A legally binding document that allows a Veteran to appoint someone else to manage their property, medical, personal, and or financial affairs.
POC	Point of Contact	A person or department that can be approved for information or assistance on a specific topic.
PCS	Permanent Change of Station	A veteran’s reassignment or move from one duty station to another.
PDS	Permanent Duty Station	A veteran’s assignment at an assigned installation.
PEB	Physical Exam Board (interchangeable with MEB)	A governing board decides on a veteran’s continued military service when the member develops a condition(s) that may make them unfit for military duty.
PITI	Principal, interest rate, taxes, and insurance	Used when analyzing rental property income, etc.
POW/MIA	Prisoner of War/Missing in Action	A program that seeks the fullest accounting for those still listed as POW/MIA, regardless of the conflict from which they went missing or were captured.
QC	Quality Control	Reviews that consider the overall quality of a SAR’s appraisal review, acceptability of the property IAW VA’s MPRs, and appropriateness of the reasonable value determination.
RAS	Retiree Account Statement (eRAS) electronic	Monthly electronic retiree pay stub which can be accessed via DFAS’s myPay system.
RLC	Regional Loan Center	VA geographical management centers that provide benefits, oversight, and support for VA Home Loan Program.
RMCR	Residential Mortgage Credit Report	A reporting tool for lenders that provides detailed information on employment, income, and credit.
SAR	Staff Appraisal Review	Assist in determining the reasonable or market value of a property for VA home loan guaranty purposes.
SOE	Substitution of Entitlement	Any purchaser may qualify to assume a VA loan; however, for a Veteran’s entitlement to be restored, a Veteran purchaser with sufficient entitlement must complete a Substitution of Entitlement (SOE) when the ROL is closed.
SOS	Statement of Service	An official document that verifies an individual’s employment status in the military.
TAS	The Appraisal System	An online system that contains a nationwide list of VA-approved condominiums.
TDY	Temporary Duty	Temporary work assignment to another location other than where the Veteran's permanent duty station.
TSP	Thrift Savings Plan	A tax-deferred retirement savings and investment plan that offers Federal employees the same type of savings and tax benefits that many private corporations offer their employees under 401(k) plans.
UCMJ	Uniformed Code of Military Justice	Code of laws governing military members, violations of may result in disciplinary action which varies from administrative reprimands to imprisonment.
URLA	Uniform Residential Loan Application	Loan application designed to be completed by the applicant(s) with the lender’s assistance.
USA	United States Army	Service branch of the Department of Defense.
USAF	United States Air Force or AF (Air Force)	The air service branch of the US Armed Forces.
USCG	United States Coast Guard or CG	The maritime security branch of the US Armed Forces.
VA FFPS	VA Funding Fee Payment System	Online system for VA Funding Fee payment.
VIP	Veterans Information Portal	An online system/gateway to personalized information relevant to VBA’s stakeholders, including veterans, employees, lenders, appraisers, etc.
VOE	Verification of Employment	A process used by banks and mortgage lenders to review the employment history of a borrower, determine the borrower’s job stability, and cross-reference income history.

*Resources assembled by VettedVA.com.