I can't think of any other industry that utilizes acronyms more than the real estate business. We've got an acronym for every detail of work and every program coming down the pike.
Here are but a few acronyms that we use everyday to simplify the real estate transaction.
RESPA,HUD,BOM,COE,RPA,TDS,HAFA,HAMP,BPO,REO,NOD,NOS,LTV,DOM,WPA,AD,MOT,FISBO,SSA,CTNL and about a thousand others.
And you thought that real estate agents were overpaid to sell your home. The fact is, we are constantly being forced to change and modify everything we know every 30 days and we have to do it in shorthand.
If you can't go thru my list without being stumped, then you need to find yourself an agent who can. Especially if you are an agent.
So remember that agents are people too. With too little time to do so much for too many people. Hence the acronym.
Well I'm off now to TCOB. BFN. OAO.