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F-3-21, Acronyms and Glossary of Defined Terms: U (05/15/2019)


Uniform Electronic Transactions Act

underwriting documents

All of the documentation used to support the lending decision for a mortgage—such as the loan application and other documents used to verify a borrower’s employment, income, deposits, and credit history.

underwriting performance review

An after-the-fact review and risk assessment for a sampling of the mortgage loans Fannie Mae purchases or securitizes to ensure that they satisfy Fannie Mae’s mortgage loan eligibility criteria and underwriting guidelines.

Uniform Mortgage-Backed Security (UMBS)

A common security issued by the GSEs that is eligible for trading in the To-be-Announced market. The securities are backed by fixed-rate mortgage loans secured by single-family, one-to-four unit properties and are identified by certain pool prefixes.

unit mortgage

A mortgage (or share loan) on an individual residential unit in a PUD, condo, or co-op project.


unpaid principal balance


Uniform Standards of Professional Appraisal Practice